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Order execution logic question

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    Order execution logic question

    When rapidly entering ATM Strategy market orders from the Chart Trader panel does NT wait for confirmation of the entry order and submission of the ATM strategy target and stop order(s). Or does it execute whatever comes first?

    ATM Strategy: Using a simple ATM Strategy with 1 contract, 1 target and 1 stop.
    Action: I click the Buy MKT button quickly 2 times in a row. Not adding to an active strategy.

    Does the Ninjatrader execution logic wait to submit the 2nd entry order (2nd click) to the broker until the first is filled and the ATM strategy target and stop orders are placed? Or, is it possible that the 2nd entry order is submitted to the broker before the ATM Strategy target and stop orders of the first entry order are placed?

    Order of execution scenario 1:

    ATM1 MKT ENTRY - FILLED
    ATM1 TARGET1 - WORKING
    ATM1 STOP1 - ACCEPTED

    NT waits for the above to be in place before it moves to the 2nd entry order.

    ATM2 MKT ENTRY - FILLED
    ATM2 TARGET1 - WORKING
    ATM2 STOP1 - ACCEPTED

    OR Order of execution scenario 2: can the following order of execution happen?

    ATM1 MKT ENTRY - FILLED
    ATM2 MKT ENTRY - FILLED
    ATM1 TARGET1 - WORKING
    ATM1 STOP1 - ACCEPTED
    ATM2 TARGET1 - WORKING
    ATM2 STOP1 - ACCEPTED

    Finally, are there conditions in which the protective target and stop orders are not placed?
    Last edited by martyn73; 07-14-2020, 08:29 PM.

    #2
    Hello,

    Thanks for your post.

    If you press the Buy MKT twice, it will submit two market orders one after another, and you'll want to ensure to only submit what you actually intend to order. This is highlighted when using the Close button: This feature will submit a market order opposite your current position, and pressing this multiple times in succession before a response from the exchange comes back can send multiple market orders, and would advise only submitting the orders you intend to fill.

    Regarding ATM orders, the first scenario would be how the platform would manage that. A scenario that comes to mind in which the associated orders may not fill would be margin violations where you can only have a set number of orders pending with your broker.

    Please let me know if I may be of any further assistance.

    Marco G.NinjaTrader Customer Service

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