I am revisiting an old topic for clarification in the new trading environment -- specifically NT8 sending ES futures stop-loss orders to Dorman and/or Phillips, the two futures clearing brokers for NT Brokerage.
My question -- and a real concern for most futures day traders using NT8 -- is this:
Does my protective stop-loss order for a pending entry order reside on the clearing broker's server, or does it stay local on my NT8 platform until entry is triggered? (Please do not provide a link to the 2008 posting by Ray showing where orders reside. That is way out-of-date... this concern requires the latest and most accurate information.)
The implications are huge. If my protective stop-loss follows the parent entry order and both are held on the broker's server, a loss of Internet connectivity or a NT8 glitch will not cause my position to be filled without a stop-loss. The alternative is a position with no stop-loss protection and unlimited risk. Not to mention that day margin rates only apply when a stop-loss is in effect.
If the stop-loss is sent with the entry order and resides on the broker's server while the entry order has not yet been filled, please provide a code sample showing the specific NT8 methods to call to ensure we send entry, stop-loss and target orders (i.e. entry + OCO bracket) at the same time... so that all 3 orders are received by the broker simultaneously.
Thank you.
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