Manage syncing self instead of with system?

[Calebg]

I'm finally transitioning from development to going live with my strategy and as such am getting exposed to the finer points of account syncing. I'm fairly concerned about the system-based account syncing methods choice of submitting market orders. All philosophical arguments aside, market orders could very practically become massive financial calamities on second and third tier securities (e.g., nothing like getting a fill for $25 a share for a $6 share stock).

After some studying, it seems like it should be easy to simply block system-based account syncing, and eliminate the possibility of market orders being submitted, but I would like to be sure that I'm not overlooking something important. Could someone please confirm or deny that the system-based account syncing functionality is added as an optional convenience for users and that it is in fact entirely plausible/manageable to bypass the system-based account syncing for manual methods?

Thanks

[NinjaTrader_Jesse]

Hello Calebg,

Thank you for the post.

I wanted to clarify the terms you are using here. It seems you are using a strategy and have asked about syncing but I noted you also mentioned manual methods. Are you speaking about letting the strategy trade or placing manual entries? Manual trading and automated trading are not generally to be combined if that is specifically what you are asking here.

Otherwise, are you asking about the "Start Behaviour" of the strategy? The start behavior would be what controls syncing a strategy with an account, is this what you are speaking about? We do have descriptions about how each start behavior will work in the following page: https://ninjatrader.com/support/help..._positions.htm

I look forward to being of further assistance.

[Calebg]

Hi Jesse, sorry for the lack of clarity in my description. Correct, I am referring to the start behavior of a strategy and the choices which users have to manage it (as show at the link you posted)

I'm basically, looking at using any and all combinations of the options on that page (e.g., wait until flat, immediately submit, adopt account position, etc) needed to avoid having Ninjatrader submit market orders (I guess I'm considering my switching of the 'Start Behavior" options to be a 'manual operation', but it's not 'manual trading'). Just want to make sure that this is a possible/manageable approach, as well as hear any other tips/best-practices that you or anyone else could share in this regard.

[NinjaTrader_Jesse]

Hello Calebg,

Thanks for providing the extra detail that helps explain the question.

The start behavior would be a manual or programmatically controlled option so this is really up to you on how you want to control this setting. Only one option can be used at once and the start behavior only occurs when the script first starts and one time. This means you would need to pick an option which best complements the logic of your script. if your script has certain requirements in how it places or retains orders this is something you will need to research by using the descriptions of each behavior and see which will work best with your overall goals. There are some behaviors which try to sync the account and others which rely on your strategy to know where it is in regard to position, some will place orders to reconcile and others will not.

The best suggestion I can make here would be to thoroughly review each of the behaviors descriptions to make sure you understand what each option is doing in regard to syncing, compare and contrast the various options. With this information known you can review your current logic or even test each of the options to make sure that your logic makes sense with the option picked. This is really the most important item surrounding the start behavior as you will know best how you are going to use the strategy/when it will be enabled and disabled.

You can additionally use the sim account to experiment with the start behaviors using live data or the other connection options like Playback. This would be one other suggestion I can make at understanding how these behaviors will affect the starting of the script.


I look forward to being of further assistance.

[Calebg]

Thanks for the information, Jesse. I'll do my best to come up with a work around that keeps from having market orders submitted.

That said, please consider this a feature request for future versions of Ninjatrader that there could be the option to have the "Startup behavior" methods which submit a limit order instead of market orders. Beside my own experience with market orders which has been it's own tale of woe, the following is a notice that Interactive Brokers sends out if I submit a market order theses day:

We noticed that you have recently submitted Market Orders in your account(s). Please see important information below regarding this order type.

Please note that a Market Order is an instruction to trade your order at any price available in the market, subject to any additional instructions for handling/simulating the particular order type you specified and other order conditions you specify when submitting your order. A Market Order is not guaranteed a specific trade price and may trade at an undesirable price. If you would like greater control over the trade prices you receive, please submit your order using a Limit Order, which is an instruction to place your order at or better than the specified limit price, or submit an algorithmic Market Order (IBALGO).

In accordance with our obligations as a broker, large Market Orders may be split into smaller orders, which will be traded over time. This is designed to reduce the impact of these large orders on the market, including the impact your order has on the market price.

IMHO, it's troubling that one of NinjaTrader's more popular broker-combos sends out this type of information for the default/only order type submitted from a core piece of NinjaTraders functionality (e.g., the "Startup behavior" market orders). fwiw, it's my two cents that Interactive Brokers is not wrong to send out these warnings.