Stop limit offset

[tommyjames]

Hi,

I have the stop limit offset turned off. When I use stop limit orders it keeps defaulting to 1 so my stop and limit are at different prices. The box that allows you to change the offset always appears also even though it is disabled.

Thanks

beta 7.0.0.20

[NinjaTrader_ChristopherJ]

Hello tommyjames,

Thank you for your post.

If you do not want to allow any offset for you Stop Limit Orders please erase "Off"-->Input a value of 0-->Click Ok.

Please let me know if I may be of further assistance.

[tommyjames]

Thanks... it worked

[NinjaTrader_ChristopherJ]

Glad to hear that did the trick.

[trader1512]

stop limit offset

if you keep the stop limit offfset option to off does that mean that no stop limit offset is applied?

if i want an auto offset, what is the default?

where is this explained in actual detail on how it works? what does the offset mean?

the help section provides no clarity.

[NinjaTrader_Austin]

trader1512, I will have someone get back to you on Monday.

[NinjaTrader_RJ]

if you keep the stop limit offfset option to off does that mean that no stop limit offset is applied?

- Yes. Leaving the stop limit offset to a value of "Off" does not apply a default stop limit offset value to your stop limit orders.

if i want an auto offset, what is the default?

- You will set the default value that you desire. For example if you wish for the default offset to be 4 ticks ahead of your stop once it is triggered, enter 4. If you want the limit to be 4 tick behind your stop after it is triggered, enter -4.

where is this explained in actual detail on how it works? what does the offset mean?

-Please see the "How to submit a stop limit order" sub section of the Submitting Orders page of the help guide: http://www.ninjatrader.com/support/h...es/nt7/sub.htm

[trader1512]

stop limit offset

if i leave the stop limit offset to false in the DOM properties does this mean that when a stop limit order is entered, either through an ATM or manually, that once the stop limit order is hit it will automatically be set to market if it is not filled and goes through it.

i have looked at the doc you pointed me to and it does not answer my question. i am just trying to verify that this has not changed in version 7.

if you can point me to where exactly this is answered in your documentation with some examples it would be appreciated.

[NinjaTrader_RJ]

if i leave the stop limit offset to false in the DOM properties does this mean that when a stop limit order is entered, either through an ATM or manually, that once the stop limit order is hit it will automatically be set to market if it is not filled and goes through it.

- First let me clarify that the property "Stop limit offset" only applies to manually entered stop limit orders. ATM strategy stop order types are defined by the property "Use stop market for stop loss orders." ATM Strategy stop orders are stop limit orders with a 20 point offset as default unless you change "Use stop market for stop loss orders" to "True."

- To answer your question, no. The property "Stop limit offset" does not enter a market order if the manual limit portion of the stop limit is not filled. Again, disabling this property by entering the text "Off" means that you will have to manually define the limit offset for any manual stop limit orders you place.

i have looked at the doc you pointed me to and it does not answer my question. i am just trying to verify that this has not changed in version 7.

- There have been no changes to the "Stop limit offset" property between NT 6.5 and 7.

if you can point me to where exactly this is answered in your documentation with some examples it would be appreciated.

- The section of the help guide that I referred you to is the only section that details how to submit stop limit orders and use the "Stop limit offset" property. I do invite you to attend our SuperDOM Basics webinar today at 4:15 PM Eastern where we review this property and you can freely ask any questions to the presenter.

Here is the webinar schedule: http://www.ninjatrader.com/webnew/tr...ine_events.htm

[trader1512]

let me ask this a different way.

for atm strategy with the property (use stop market for stop loss set to false)

i enter an order for 60 and it is placed. my atm strategy has a stop loss set at 5. the market hits the stop loss but does not execute and the price continues to drop. what now is happening. do i have a market stop order out there until it is filled all the way to the 20 point offset or does the order continue to drop until it hits the 20 point offset and then converts to market? what happens after the offset?

for same with stop loss set to true

the market hits my stop and continues to drop. is an immediate stop market entered and left open until filled?

what exactly does offset mean? nothing will happen until it hits the offset amount?

if i am trying to protect against a market flash crash, meaning it goes through my stop what is the best way to ensure a market stop order is generated until filled?

[NinjaTrader_RJ]

let me ask this a different way.

for atm strategy with the property (use stop market for stop loss set to false)

i enter an order for 60 and it is placed. my atm strategy has a stop loss set at 5. the market hits the stop loss but does not execute and the price continues to drop. what now is happening. do i have a market stop order out there until it is filled all the way to the 20 point offset or does the order continue to drop until it hits the 20 point offset and then converts to market? what happens after the offset?

- (Assuming you entered a long position) Once your stop price is hit, the sell limit order is submitted 20 points below the stop price. This means you will most likely get filled at the next traded price (depending on instrument traded, liquidity, etc.). The order is not a market stop order and it is not being constantly modified. The only way you would not get a fill on your sell stop limit is if the moment after your stop was hit, the market price fell more than 20 points.

for same with stop loss set to true

the market hits my stop and continues to drop. is an immediate stop market entered and left open until filled?

- Yes. If your Sell stop market order is triggered, a sell market order is submitted and open until filled.

what exactly does offset mean? nothing will happen until it hits the offset amount?

- The offset means the number of ticks away from your stop where you want the limit order placed. With a positive offset, you are limiting the slippage. With a negative offset, you are waiting for price to re-trace to your limit for a fill. Again, we explain and demonstrate this in more detail in the SuperDOM Basics webinar

if i am trying to protect against a market flash crash, meaning it goes through my stop what is the best way to ensure a market stop order is generated until filled?

Setting "Use stop market for stop loss orders" to "True" will submit a market order for your stop is generated. I suggest to discuss this with your broker as I am not able to give you advice as to which order is the best. Your broker will be able to explain order types and when they are best used.

[NinjaTrader_Brett]

Hello,

Your understanding is flip flopped

You want to set this from off to a number here you always want your stop limit offset to be that way you do not have to set it each time. So if you always use a stop limit offset of 1 tick then put a 1 here instead of off. This should achieve you what your looking for.

I look forward to assisting you further.

[trader1512]

"Again, we explain and demonstrate this in more detail in the SuperDOM Basics webinar"

sorry but after wasting 45 minutes of my day in the webinar, when we got to the section for properties on the DOM and i asked a basic question about the offset default setting, he responded that is beyond the scope of this webinar and you need to contact support.

[trader1512]

whose understanding is flipflopped. at this point, i only use ATM with a stop strategy. i am just trying to make sure i set the properties properly. so if i leave stop market for stop loss to false in the properties, the default of 20 points will allow for my stop order to be filled anywhere between the intial stop order price and the 20 points.



there is just no detailed documentation that i could find in your help section which clearly explains these settings. i attended the webinar and they stated this is a question for support.

[NinjaTrader_RyanO]

Hi trader1512,

Thank you for your post.

The setting you reference would mean that if you are using stop limit orders for stop loss then the limit offset will be 20 ticks. Thus your understanding is correct in that the order can be filled anywhere between the stop price and the limit price.

The reason there is no documentation on this is because it is not a property that can be edited. Since it is vital that your stop loss orders are filled a sufficiently large limit price is included by default, and can not be edited.

Additionally, certain exchanges do not accept anything but stop limit orders, and if they are going to be filled a large limit is going to be used so as to guarantee fills.