Please clarify MIT orders

[gubbar924]

Can MIT orders be placed in brackets? For example, can we have our take profit target be a MIT order rather than a limit order?

thanks

[NinjaTrader_Brett]

Can MIT orders be placed in brackets? For example, can we have our take profit target be a MIT order rather than a limit order?

thanks

Yes there is an option in the More category on ATM strategy template configuration to have your profit targets be an MIT order.

[gubbar924]

thank you for the quick reply!
this is great news

[Cnixon300]

Is there a way to use MIT for stops? I've noticed that stop orders that are in the system are often gunned for and result in being quickly whipsawed out. Or possibly make a stop contingent on a candle close above/below a certain line rather than a large wick (3 or 5 min candle for example). When watching charts I can manually execute stops as waiting for candle closes, but when I have to leave many times I return to find that someone gunned for my stop and often to the pip and reverse in my original intended direction.

[NinjaTrader_PaulH]

Hello Cnixon300,

Thanks for your post.

MIT are order entry only.

[Cnixon300]

"MIT" I assumed that meant market order placed if touched. Rather than having an open order sitting as a stop to be gunned for, I was curious if there was a way to have a stop executed in the event the market reached your desired price rather than it actually being your order to be taken out. But I would prefer if there was a way to sell on the event the candle closed below your stop level rather than just price reaching it. Say I was trading based on 3 minute candles and my stop is at 2.98 and support is obviously at 3.00 and some large buyer takes out several asks quickly down to 2.97 including me. Often times price will find its way back above 3.00 and usually within seconds and still technically holding support. This type order would be a contingent order based on a specific time period candle closing under that line. Im not a programmer but some sort of entry like.... Sell stop @ 2.98 contingent on a 3 minute candle close below it. This type order would be awesome to avoid whipsaws, But I assume the market if touched stop order is easier to program.

[NinjaTrader_PatrickH]

Hello Cnixon300,

Thank you for your response.

Based on your response a SetStopLoss using a simulated stop would suit your needs. You can find the syntax needed at the following link: http://ninjatrader.com/support/helpG...etstoploss.htm

For information on how a simulated Stop Loss works please visit the following link: http://ninjatrader.com/support/helpG...s_superdom.htm

Please let me know if you have any questions.

[Cnixon300]

I am using Ninjatrader 8 and I have absolutely no programming experience whatsoever, so is there anyway you can explain what a syntax is and what I need to do to achieve as it pertains to my original request, in a way a D+ 7th grade student would understand lol.
Also completely unrelated, I acquired the full license several months ago and have been using the software successfully on FXCM and soon to be opening up an account with TD Ameritrade or IB. Love the software btw and wish everyone was integrated in with you guys. I work for myself and have lots of time for trading etc but I have a friend that plans to quit work soon to give full time trading a go considering recent success. I have turned him onto Ninjatraders chart trader and for the time being prior to him quitting work full time he would like to trade with me at my house. My question is would it be problematic to associate his TD ameritrade account with my NInjatrader (using my license key) in addition to him associating it with his Ninjatrader at his home location (once he buys license) and would I have an issue trading on my account when visiting him at his place and vise versa?

[NinjaTrader_PatrickH]

Hello Cnixon300,

Thank you for your response.

You do not have to program a strategy and can use Simulated Stops in your ATM Strategies for manual order entry and protection. You would want to familiarize yourself with ATM Strategies at the following link: http://ninjatrader.com/support/helpG...gement_atm.htm

For the Licenses you would need to have a License that was enabled for multiple brokers and you would not be able to connect on both machines at the same time. Please contact platformsales[at]ninjatrader[dot]com for more information.

[Cnixon300]

The only thing I see under simulated stop is Volume Trigger and a check box for enabled. I see nothing anywhere that says SetStopLoss or anything relating to "syntax" I guess it may be more beneficial to have someone explain this to me on the phone but if I recall I have to email them for them to call me I believe.

[NinjaTrader_PatrickH]

Hello Cnixon300,

Agreed, please reach out to me at platformsupport[at]ninjatrader[dot]com with 'ATTN: Patrick H - 1528498' in the subject line.