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Order Parameters

Listen to an audio presentation here.

The order parameter section allows you to change various properties of an order prior to submitting it. There are also several in-order options that can be invoked within this section. All parameters default to the current symbols' default properties upon start-up.

Pre-Order Parameters

# Contracts - Specifies the number of contracts/shares

Target 1 - Specifies the offset value for the target LIMIT order submitted upon fill confirmation of the entry order. Example: If your entry price was 100, and your Target 1 Offset was 5, the LIMIT target order would be 105.

Target 2 - Specifies the offset value for the 2nd target LIMIT order. This value is used specifically for the AutoScale Exit Type.

Stop - Specifies the offset value for the STOP LOSS order submitted upon fill confirmation of the entry order.

BE Trigger - Specifies the offset value in which the STOP LOSS order is adjusted to breakeven (entry price). The offset is measured from the entry price to the bid for longs, ask for shorts. Example: If the value is 3 and you are long, once the bid is 3 pts above your entry price, NT will automatically adjust your STOP LOSS to breakeven.

Target 1Qty -Specifies the number of contracts/shares used for the 1st target LIMIT order when using the AutoScale Exit Type. Example: If you have a total of 5 contracts, the target 1 Qty value is 3, then 3 contracts would be exited at the Target 1 value, the remaining 2 contracts exited at the Target 2 value.

StpLimit - When checked, NT will send out STOP LIMIT instead of STOP MARKET orders.  When trading emini futures contracts, STOP LIMIT orders will rest on GLOBEX servers providing the trader with security in case the IB servers go down. If using STOP MARKET, orders are simulated on IB servers until the STOP price is hit and is then submitted to GLOBEX.

BE + - This feature is only valid if the BE Trigger value > 0. When checked, as soon as the the breakeven trigger is activated, NT will adjust the STOP LOSS order to breakeven + the BE Plus Offset specified in the symbol manager.

Exit Type Manual - When selected, NT will send a STOP LOSS protective order upon fill confirmation of the entry order.

Exit Type Bracket - When selected, NT will send  STOP LOSS and PROFIT OCA (one cancels another) protective orders upon confirmation of the entry order. When one order is executed, the other order will automatically cancel.

Exit Type AutoScale - When selected, NT will manage the PROFIT exit orders in two steps. The first step sends out a STOP LOSS order for the entire position and a PROFIT order for the # of contracts/shares specified under the Target 1 Qty parameter as an OCA group.  Once the 1st PROFIT order is filled, NT will send out another pair of STOP LOSS/PROFIT orders reflecting the new position.  During AutoScale, you can manually add or remove positions. All STOP LOSS and PROFIT orders will adjust to reflect the total position.

In Trade Options

RevOnExit - This option can be checked while managing an open position. When checked, NT will reverse the current position automatically when either a STOP LOSS or PROFIT order is filled. The reversed position will be based on the current order parameters at the time of order placement, not based off of the parameters of the position being reversed.

BE Trigger Checkbox - When checked, the BE Trigger condition is on. You can turn this on or off while in a trade. You can make changes to the BE Trigger Offset value and turn it back on while in a trade.