How to have Stop Loss + Profit Target when NT or Computer is Shut off for Swing?

[agassi]

Hello Every One,

I am aware that if I enter a stop loss and a profit target using NT, it is only valid as long as the computer and NT is on right?

Question: Rather than day trading, I want to try swing trading. So How to enter an order, with a stop loss and a profit target so that I don't have to have my NT and Computer on? Is that even possible? Here is an example:

I buy at 100. I want to set a Stop Loss at 90 and a Profit Target at 110. And I want this order to be working for me even AFTER I shut off my Ninjatrader and my Computer. How can I go about doing it?


1) Typically whenever I enter my Stop Loss and Profit Target, what happens i.e. where is it stored? Is it stored physically on NT application and my personal machine? or is is sitting on my brokers servers on the exchange? e.g. CME etc.

2) Is this dependent on what type of brokers I use? or is it standard across the industry? I mean, if I use Ninjatraderbrokerage what would happen in this scenario?

Thank you very much in advance.

[agassi]

To rephrase my question above:

What happens to a Stop Loss Order and the Profit Target if I turn off NT and Shut off my Computer? Do I lose it? or Will my Stop Loss and Profit Target sit some where ? If so, where? Is this all dependent on which brokers I use etc.?

Thanks,

[happypappy]

I'm not yet trading live myself, but the demo account with FXCM shows my order still pending / waiting if i restart my workstation. So I would assume once the order has been placed it remains there.

Can anyone with a live account confirm?

Im using unmanaged orders, not sure if that has an impact or not...

[agassi]

This is quite complicated topic and I am hoping some body from NT officially provides an answer. It all depends on what type of data you use etc. So if you execute using say CQG it would be different from some other data provider.

[agassi]

Here is one link which explains more:

http://www.ninjatrader.com/support/forum/showthread.php?t=5349

[NinjaTrader_CalH]

Hello Agassi,

Thank you for posting.

Glad to see you found the thread. Yes, using NinjaTrader Continuum will have your orders standing at the exchange.

As stated, most of the OCO functionality resides at the servers but there are some disclaimers for this -http://www.ninjatrader.com/Connectio...tion-Guide.php

[agassi]

Hello Agassi,

Thank you for posting.

Glad to see you found the thread. Yes, using NinjaTrader Continuum will have your orders standing at the exchange.

As stated, most of the OCO functionality resides at the servers but there are some disclaimers for this -http://www.ninjatrader.com/Connectio...tion-Guide.php

So if my orders are standing at the exchange, can i shut off my computer? or am i required to keep my computer on and have NT running?

My goal is to swing trade ES with a stop loss and a profit target and need to know whether if I am required to keep my machine on and NT on 24X7.

[NinjaTrader_CalH]

Agassi,

Since, the exchange would be holding the orders and the OCO would be in place as well yes. Again, I advise reading the disclaimer on the Continuum connection to understand what can happen with these types of orders.

[agassi]

I cannot make sense of disclaimer # 7

7) OCO groups cannot reuse IDs from earlier in the trading day. Please be sure to use unique IDs for new OCO groups.

What does the above statement mean? How will I know my ID? What ID? I have no clue about this unique ID etc.

[agassi]

What is the difference between the exchange serves and continuum servers? Where are these servers located any way? Are continuum servers located in the exchange? or some where else?

Most of OCO orders are supported by CME. So if CME does not support a specific order type, then these orders will be sitting on Continuum Servers. Correct?

[NinjaTrader_CalH]

Agassi,

An OCO ID is what the servers uses to identify orders that have that ID attached to them. This is how it will cancel the other.

If you just placing manual trades through the Order Entry and using the Managed approach for Strategy Order Submission you do not need to worry about this as it is handled internally.

However, if you are using the unmanaged approach for Strategy Order Submission you will need to have a new ID being submitted for each OCO ID.

The exchange servers are the Exchange themselves. The Continuum servers are not at the exchange. These are maintained by the data provider.

You would need to ask Continuum about any information regarding the servers specifically.

Your last question is correct on both accounts.

[agassi]

Thanks.

I am still trying to understand managed versus unmanaged approach that you have mentioned...

So if my order to buy ES gets executed right now and i have attached a stop loss and a profit target: would this be considered as a managed approach? or an unmanaged approach?

[NinjaTrader_CalH]

Agassi,

This dependent on what you use to submit them.

I attached two links below on the Managed system and the Unmanaged system -
Managed Approach
Unmanaged Approach