NT7 order sync of starting stragety - thanks, high risk no benefit approach

[NetTecture]

Sorry, I do not find better words.

I just read the description of how NT7 will try to sync its state with the positions in an account, and I must say this is the most - sorry - idiotic way you could possibly have done it. Any of you guys trading? Seemingly not - what happened to the good old rule of "never chase a market"? Seems it is not for you.

Here is what I am talking about:

You can optionally have your strategy synchronize your live account to the strategy's position when a strategy is enabled. If your strategy starts long 1, a market order for 1 is immediately sent to your account.

If that is "it" then leave it better out. This is not synchornization. It is the attempt to push losses to the user. Seriously. Who had that idea?

What is the problem? The problem is that this long may have come at a totalyl different price, and my strategy may - giving large profits - be lenient with the stop. Not a behavior I want with a position opened at a higher price. Chasing the market.

Seriously. I would love you to handle starting strategies more intelligent and sync. But there is only ONE way to sync it that is neutral:

* Run the strategy "simulated" as you do now. WHen getting live, TRY TO GET INTO THE POSITIONS THE SIMULATOR HAS OPENED. THis does not mean "go in market". It means: put in a limit order at the price the simulator had for the market order. Sure this may not get filled if the trade is "well into its positive life". So what - then the strategy will enter into the next trade.

But seriously, chasing the market is bad. REALLY bad. Just because I wanted that contract 3 hours ago 500USD better does not mean I would like it now, especially not with my 20% profit minimum trailing sttop which may be a lot wider than the stops I put into new strategies.

THAT HURTS.

Alternativle you have "wait until flat" - this is good.

I strongly suggest putting in a third option - or replace the "immediately submit", which makes more sense imho - that reads "try to enter strategy positions at the original price".

The rest of the features reads lovely, and really reads like someone did their homework. Well, mostly But this one sucks. I dare saying very few people will be interested in blindly jumping into a position. I would love, though, trying to get into that position at the original price or better - after all, if my system still wants to be long, then why not

[NinjaTrader_Jason]

Hello NetTecture,

I will forward your suggestion to include the option you described to our development team and ask them if they can add this to the list of future considerations for the software.

Thank you for your feedback.

[r2kTrader]

I highly doubt they would do this without giving you an option to choose a limit of some kind. Furthermore, there are successful strategies ENTIRELY built on the premise of CHASING the market.

I think your opinion is subjective, although I appreciate your articulation of your concern.

It also depends on the market/instrument and volatility.

I am sure they can say if x distance from your strategy entry, then take the trade, if not, then don't take. They won't just throw you in a trade blindly, NT is pretty good about those things.

Sorry, I do not find better words.

I just read the description of how NT7 will try to sync its state with the positions in an account, and I must say this is the most - sorry - idiotic way you could possibly have done it. Any of you guys trading? Seemingly not - what happened to the good old rule of "never chase a market"? Seems it is not for you.

Here is what I am talking about:



If that is "it" then leave it better out. This is not synchornization. It is the attempt to push losses to the user. Seriously. Who had that idea?

What is the problem? The problem is that this long may have come at a totalyl different price, and my strategy may - giving large profits - be lenient with the stop. Not a behavior I want with a position opened at a higher price. Chasing the market.

Seriously. I would love you to handle starting strategies more intelligent and sync. But there is only ONE way to sync it that is neutral:

* Run the strategy "simulated" as you do now. WHen getting live, TRY TO GET INTO THE POSITIONS THE SIMULATOR HAS OPENED. THis does not mean "go in market". It means: put in a limit order at the price the simulator had for the market order. Sure this may not get filled if the trade is "well into its positive life". So what - then the strategy will enter into the next trade.

But seriously, chasing the market is bad. REALLY bad. Just because I wanted that contract 3 hours ago 500USD better does not mean I would like it now, especially not with my 20% profit minimum trailing sttop which may be a lot wider than the stops I put into new strategies.

THAT HURTS.

Alternativle you have "wait until flat" - this is good.

I strongly suggest putting in a third option - or replace the "immediately submit", which makes more sense imho - that reads "try to enter strategy positions at the original price".

The rest of the features reads lovely, and really reads like someone did their homework. Well, mostly But this one sucks. I dare saying very few people will be interested in blindly jumping into a position. I would love, though, trying to get into that position at the original price or better - after all, if my system still wants to be long, then why not

[NetTecture]

I highly doubt they would do this without giving you an option to choose a limit of some kind. Furthermore, there are successful strategies ENTIRELY built on the premise of CHASING the market.

I think your opinion is subjective, although I appreciate your articulation of your concern.

It also depends on the market/instrument and volatility.

I am sure they can say if x distance from your strategy entry, then take the trade, if not, then don't take. They won't just throw you in a trade blindly, NT is pretty good about those things.

Given from the description, screenshots AND.... the functionality in the build I pulled from the Internet... you err. They do it exactly as I said.

Btw., I doubt there are any strategies built on blindly chasing the market possibly hours after the signal was actually given

[r2kTrader]

yes, there are.

I wasn't aware that you know how I trade

Given from the description, screenshots AND.... the functionality in the build I pulled from the Internet... you err. They do it exactly as I said.

Btw., I doubt there are any strategies built on blindly chasing the market possibly hours after the signal was actually given

[zweistein]

Hi NetTecture,

you are right that synchronizing the live account from the stategy is stupid as it means usually chasing the market as you described already.

But there can be the situation that you syncronize your stategy from you live account (thus the other way around, live account has a position and the strategy is syncronized to that position).

The second case is very useful indeed and it happens quite often to me in trading. I see a situation and then I go into the market directly with a buy or sell order. 2 minutes later when everything has settled then I become lazy and I don't wan't to follow the position by hand any more. Then I want to apply an exit rule and have NinjaTrader follow that rule.
This is when I would use sync to strategy. ATM exit rules are not flexible enough, so I need a proper exit strategy.

Currently I have written my own strategy workaround, the strategy is called ShortFollowUp and this strategy just does my trailing and target as desired. This ShortFollowUp strategy for its whole life contains only of buy stop and/or buy target order and ends with a filled long position.

Pitfall to this is that pnl of the ShortFollowUp is not shown, because it is a "virtual"strategy without position.

NT7 with a possibility to sync my life position to an existing strategy will help me a lot.
The other way around, sync of the live position to strategy is useless to me.

Regards
andreas