stop limits

[jitterbug]

can we place stop limit orders in FXpro?

a buy stop limit is only permissible up to the current offer?

can a ninjascript be created to place a buy stop above current offer and limited to that buy stop price so it goes to accepted/working once the offer touches that price?

[NinjaTrader_PaulH]

Hello jitterbug

Thanks for your post.

1) Yes, please see the helpguide on submitting orders: http://ninjatrader.com/support/helpG...ers_fx_pro.htm

2) A buy stop limit order is only valid above the current traded price.

3) Use a stop limit with 0 pip offset.

[jitterbug]

Hi Paul,

i`ve read that thanks for the link.

I can see in the help file that a stop limit allows you to choose the stop and limit price. but that option is not available in fxpro NT8 or basic chart entry. is this because I am using the free edition of NT?

I only have stop market or limit in the drop down in FXPRO which is my trade window of choice, and I cannot see any field for entering a tick offset for the limit ?

help file with "stop limit".


my fxpro with no stop limit


I can place simulated buy order: stop mkt and a normal stop mkt above the offer, but I don`t know how to set up the stop limit simulated order...

Here at 185.00 both a simulated stopmarket order and non simulated stopmarket.

2) A buy stop limit order is only valid above the current traded price

I see, where as a buy limit order is only valid up to but not including the current offer.


Now regards basic stop-mkt orders. Is a buy stop placed above current bid or above last traded price?

Because while FX charts show the bid as the last traded price I assume this is not always the case as they are 2 separate things, the last price could have been the offer right? (if a buy @mkt is executed the offer was the last traded price) And the last traded price is always in a sense, a historical figure as time ticks by, and bid/offer changes so quickly.

That`s why i`m asking for my own knowledge and technical accuracy if the stop mkt order has to be at minimum above the last traded price (which could be the offer) or the bid?

in all practicality in most fx instruments it doesn`t matter since one of the spread prices are constantly reflecting last traded price as the spreads are so tight, but in cases where there are 10-20 pip spreads in some fx pairs this question carries more weight so wanted to clarify that point.

[NinjaTrader_PaulH]

Hello jitterbug,

Thanks for your post.

The Stop Limit order type is not a recognized order in Forex and we have submitted a request to remove that selection and update the documentation. The reason it did not show in yours is likely a result of whom you were connected to and not as a result of your license type (direct). Thanks for your help in identifying this in our beta testing phase.

A buy stop market order would only be valid above the bid, however if the spread is too large it still may be rejected by the brokerage/exchange. This would be a good question for the orders desk of your brokerage.

[jitterbug]

ok so stop limits are no longer a possibility with NT

[NinjaTrader_PaulH]

Hello jitterbug

Thanks for your reply:

ok so stop limits are no longer a possibility with NT

To be clear, this (no Stop Limit order) is applicable to forex and equities only and is not a restriction in the Ninjatrader Platform.