Who holds the orders?

[Bogan7]

Hi guys just a quick question dealing with pending orders. My question is where are these orders located are they with the broker or still just on my computer? This is important if my internet goes down are my stops with the broker/exchange or just still with me. Also I have noticed on the occassion when my connection has gone down when I go back to the DOM my pending orders are not there?

Regards

Matt

[NinjaTrader_Ryan]

Hello:

Thank you for your post.

The resting locations of your orders are dependant on several variables including broker, order type and exchange type.

It is first important to understand NinjaTrader Order Status types:

PENDING - Order submitted
REJECTED - Order rejected
CANCELLING - Cancel requested but not confirmed
CANCELLED - Cancel confirmed
FILLED- Order filled
ACP_BKR - Accepted at broker
ACP_XCHG - Accepted at exchange


ACP_BKR (light blue color in DOM) and ACP_XCHG (green color in DOM) are the two states we need to be concerned with to determine order resting location. Whenever an order is ACP_XCHG it means the order is resting at the exchange. Should anything happen to your PC or internet connection your order is still alive and working.

If an order is ACP_BKR it can mean several things.

For Patsystems -

It means the order is synthetic and the order is resting on your PC. If your PC crashes or your internet connection goes down, this order will be lost.

For Interactive Broker and MB Trading -

It means the order is resting on the broker's order server. If your PC crashes or your internet connection goes down, this order is still alive at the broker. If the broker's servers go down, then the order is not active and potentially lost.

How do I know which order types will receive an ACP_XCHG (resting at the exchange) state?

This is dependant on the exchange itself and what order types they choose to support as native exchange order types. For example, all stop order types on ECBOT are NOT exchange supported where GLOBEX stop order types are.

Best regards,

[Reaver]

Okay, just to confirm that I've got this right in my head....

As long as I'm with a supported broker, say MB Trading or IB and my order reads ACP_BKR then I'm okay if my computer crashes?

Order will still be alive at my broker, even if my computer totally fails or I lose my internet connection?

I just wanted to make sure, as I asked a while back and was advised that all orders were held on my computer until executed (this was in early 07 so it may have changed of course, but that's why I wanted to confirm).

And of course, if my order says ACP_XCHG then I am good to go unless the exchange goes down?

How do I know which order types will receive an ACP_XCHG (resting at the exchange) state?

This is dependant on the exchange itself and what order types they choose to support as native exchange order types. For example, all stop order types on ECBOT are NOT exchange supported where GLOBEX stop order types are.

Also, is there a list of brokers that accept server side orders through NT (or do all of them accept the NT orders on their servers?).

Sorry if I am missing something, I just want to make sure I understand correctly, as this concept is a very big deal to me since I am not always at my computer. Thanks a million.

[NinjaTrader_Ray]

Your understanding is correct. We will publish a more concrete document shortly.

I believe some people are confusing "submitted" orders vs orders waiting to be submitted.

- All orders always go to the exchange or a brokers server (I believe this is 99% or 100% of the time now)
- Stop and target orders as part of an ATM strategy are only submitted once the entry order for the position has part filled or filled.

[Reaver]

Originally Posted by NinjaTrader_Ray

Your understanding is correct. We will publish a more concrete document shortly.

I believe some people are confusing "submitted" orders vs orders waiting to be submitted.

- All orders always go to the exchange or a brokers server (I believe this is 99% or 100% of the time now)
- Stop and target orders as part of an ATM strategy are only submitted once the entry order for the position has part filled or filled.

Ray,

Thanks for your response, so a regular stop order would be treated as a normal order and be submitted to an exchange or broker, as long as it's not part of an ATM strategy?

Thanks again.

[NinjaTrader_Ray]

Incorrect.

All orders submitted by NinjaTrader are 99% sent to the exchanges or brokers.

In an ATM strategy, a stop is generated once the entry order is part filled or filled. Its at this time, a stop is submitted to the exchange.

[Reaver]

Originally Posted by NinjaTrader_Ray

Incorrect.

All orders submitted by NinjaTrader are 99% sent to the exchanges or brokers.

In an ATM strategy, a stop is generated once the entry order is part filled or filled. Its at this time, a stop is submitted to the exchange.

Thanks Ray,

So essentially, 99% of all orders once placed into NT (or triggered to be placed if part of an existing ATM strategy) are sent to the broker/exchange....

So basically 99% of all valid (ie either placed directly by the trader, or the appropriate trigger was hit causing the existing ATM orders to be sent) orders are held broker side.....

Sorry just want to make sure I am reading you right. Thanks for your patience.

[Reaver]

Also, just to ask while I am on the topic, say I have open trades, and my computer crashes....and in the meantime all stops or profit targets are hit, so all orders that were open when my computer went down are closed while my computer is down....when I reboot and bring up NT and reconnect, will all my order stats and logs be updated to reflect the trading activity that took place while my computer was down? Basically, does NT "talk" to the broker servers to sync up all logs, even if NT wasn't up at the time the orders took place?

Thanks.

[NinjaTrader_Dierk]

>> Basically, does NT "talk" to the broker servers to sync up all logs, even if NT wasn't up at the time the orders took place?
yes

[Reaver]

Thanks a million for your help. That was the only thing keeping me from using NT, which is the fact that I am frequently away from my desk. Good news for me!