Complex Order Input

[cmt_Robert]

Greetings!

I want to create a strategy which will put the following orders onto the IB servers so that it won't matter if NT subsequently becomes disconnected. I understand that my strategy will lose control over the trade in that event and I am comfortable with that possibility, provided that the trade exit parameters reside on IB's servers.

The orders that I need are:
Opening order
One Cancels All order consisting of:
Profit Target based on "Market if Touched" (MIT)
Stop
Exit at Market at a specified time

I can construct this manually on IB and it works successfully, so I know that it is possible from IB's perspective.
I can construct the Opening Order + OCA Target and Stop in NT and it appears to translate onto the IB server, but it is a Limit order at the target price rather than an MIT.
I don't know how to place the Exit at Market at a specified time through NT, nor how to associate it with the OCA Target and Stop.

Your assistance would be most appreciated.

[NinjaTrader_ChelseaB]

Hello cmt_Robert,

Thank you for your post.

NinjaTrader does not support special type of orders that are brokerage specific.This would mean that an order that triggers at a specific time would not be an order type that NinjaTrader could submit.

Also, NinjaTrader 7 does not support MIT (Market If Touched) orders, however, NinjaTrader 8 (which is currently in Beta) does. Below are links to the help guide on submitting orders in NinjaTrader 8 Beta 10 in Chart Trader and on the SuperDOM.
http://ninjatrader.com/support/helpG...ng_orders4.htm
http://ninjatrader.com/support/helpG...s_superdom.htm

For NinjaTrader to protect the order with a stop loss and profit target after the entry fills, NinjaTrader must be on and connected to submit these protective orders.

[cmt_Robert]

Thank you for your prompt response ChelseaB.

Is the MIT order supported in NinjaScript in version 8?

[NinjaTrader_ChelseaB]

Hello cmt_Robert,

Yes. Below are links to the help guide on EnterLongMIT() and EnterShortMIT().
EnterLongMIT - http://ninjatrader.com/support/helpG...terlongmit.htm
EnterShortMIT - http://ninjatrader.com/support/helpG...ershortmit.htm

[cmt_Robert]

Thanks again, ChelseaB.

I'm pleased to find that there are analogous EXIT orders (which is what I was asking about) as well.

http://ninjatrader.com/support/helpGuides/nt8/en-us/?exitlongmit.htm

http://ninjatrader.com/support/helpGuides/nt8/en-us/?exitshortmit.htm

Do you know if these MIT orders are placed on the brokerage server or are they held by NT?

[NinjaTrader_ChelseaB]

Hello cmt_Robert,

I've gotten some clarification on this.

'If the provider supports MIT orders then it will be submitted directly, otherwise MIT orders will sit in a prepared state locally on NinjaTrader if the provider does not support MIT orders.
The stop price is the trigger price for the MIT order. Stop price field should be used for all MIT orders (never in the limit price field).'

You will need to double check with your broker that the MIT order type is supported.

[cmt_Robert]

I appreciate that you took the time to confirm this, ChelseaB.

As I said in my original post, I can create this setup manually on IB, so on that basis I would believe that IB supports MIT.

Has any thought been given to supporting timed entry/exit directly on the brokerage (assuming the brokerage supports it - as IB does)? I know that I can simulate that in my NT strategy, but it's just not the same!

[NinjaTrader_ChelseaB]

Hello cmt_Robert,

I was not able to find any existing feature requests about timed orders with Interactive Brokers so I have entered a request for you.

Once I have a tracking ID for this request I will post this on the forums.

[cmt_Robert]

Excellent. Thank you again for your speedy service, ChelseaB.