OCO GTC Orders on the CME

[trader_rick]

Hi Guys,

I'm trading the E-mini S&P 500 on the CME using the Basic Entry Window. Last night I left an open (short) position overnight for the first time with an OCO buy stop order above the market (my stop loss) and a buy limit order below the market (my profit target).

This morning I found I was filled on both. On enquiring with my broker he said that CME does not support OCO orders, so I suppose that NT has been simulating these intraday as I've never had problems with OCO orders during the day.

I was surprised that NT accepted my OCO GTC orders or even if it did, there was no warning that the exchange I was trading on did not accept the orders. The OCO orders showed as working before I shut down.

Please could you comment on this. Also, if I had left NT running overnight, without shutting it down, does this mean that NT would have simulated OCO and that this is the way forward if I want to use overnight/GTC OCO orders.

Thanks

[NinjaTrader_Kyle]

Hello trader_rick,

Thank you for your post.

Which brokerage are you trading with?

[trader_rick]

Hi Kyle,

My broker is Berkeley Futures in London and I'm trading through Patsystems.

regards,

Rick

[NinjaTrader_Kyle]

Hello Rick,

Thank you for clarifying.

When using a PATSystems based brokerage OCO (One Cancels Other) functionality is simulated on your local PC. As a result NinjaTrader must be running and connected to the account to send signals to close one order when another in it's OCO group has filled.

[trader_rick]

OK Kyle, thanks for that. So in future if I want to run OCO orders overnight, I must just make sure NT is left running, correct?

[NinjaTrader_Kyle]

Hi Rick,

Your understanding is correct - provided that NinjaTrader is running and connected to the account it will be able to manage the OCO orders normally.

[trader_rick]

Got it. Thanks very much.

[trader_rick]

Hi,

I have left another overnight position as above with OCO GTC buy stop and buy limit orders (bracket). The market is currently in extended trading hours. However, the price in the Basic Entry window (and chart) is frozen at the last traded price during regular trading hours. I do notice however that the volume on the bid and ask is being updated.

Why do the chart and window not update extended hours trading? (I have switched the session to CME Equity Indices ETH. Historical data for out of hours is showing up fine.)
Can I still have confidence that NT will correctly execute my OCO GTC orders overnight? The system is still running and I am still connected to my Patsystems account.

Thanks

[trader_rick]

Hi again,

Please ignore the last message. The chart and window are now updating as expected. There just seems to be this odd delay of about 15 minutes at the end of the regular session which I have noted previously.