Ninja8 Limit Orders

[Dolfan]

I am having a problem setting simultaneous limit orders on a Ninja8 chart. Specifically I am looking to place a sell order below the price action and a buy order above the price action but I keep getting a rejection. Here is a screenshot. http://screencast.com/t/M7Rcv1RL

In this picture I attempted to place a buy limit order above the 48.70 mark but was rejected.

Is this rejection from my broker or is this Ninja8? Thanks in advance.

Best regards,

Dolfan

[NinjaTrader_AlanP]

Hello Dolfan,

Thank you for your note.

To place a sell stop order below the market and a buy stop above the market using an ATM, you must reselect the ATM strategy you wish to use in the ATM dropdown. Note for this strategy you will want to click the ATM drop down after you’ve place the 1st order, and select the ATM name again (so that a lightening bolt is not displayed next to the ATM name.) See attachment.

Alternatively, you could set your ChartTrader properties to not default to the active strategy via Right Click on the Chart Trader>Properties and setting ATM Strategy Selection Mode to ‘Keep selected ATM Strategy Template on Order Submission’.

Please see the ATM Selection Mode section of our Helpguide:

https://ninjatrader.com/support/helpGuides/nt8/en-us/?atm_strategy_selection_mode.htm

Please let us know if we may be of further assistance.

[Dolfan]

Thanks Alan. I am not sure yet how helpful this was but it did let me place the orders. I still received error messages after the initial order opened but with the price swinging so rapidly I was not able to close the error messages and take profit fast enough to read the messages or control the situation. Can I disable the error messages so that they do not impede the trading process?

Next time I will turn on record and view the error messages later.

Best regards,

Dolfan

[NinjaTrader_AlanP]

Hello Dolfan,

I am unable to reproduce this error with the above settings.

Please send me your log and trace files so that I may look into what occurred to platformsupport[at]ninjatrader[dot]com
.
You can do this by going to the Control Center-> Help-> Mail to Platform Support.
Please reference the following URL in the email body:

ATTN ALAN P

http://ninjatrader.com/support/forum/showthread.php?p=463953#post463953

[Dolfan]

I am unable to do this since I do not have email capability on my trading computer. I am playing with a small account balance and I know that one of the errors was for insufficient margin. That would be due to the fact that the first order consumed the margin available. There were more than one error messages so I will record next time and evaluate further. I am now having success placing 2 orders on the chart at once, but the margin requirements will continue to hamper my progress. Must win more trades! :-)

Best regards,

Dolfan

[Dolfan]

Alan,

I am still having this problem. This morning I place a long order above the current price and a short order below the current price just before the 9:30am CDT report on NG storage. I did not record the event this time but I will next week. As soon as the report came out the price zoomed through the short order without filling and left an error message which I cleared but did not read. I checked the log file and I pasted the last few lines here for your reference. They are limit orders and I suspect they should be market orders instead. Will this stop the problem and take the orders where ever they can be filled?

Best regards,

Dolfan

2016-06-23 09:29:56:237|1|32|Order='a6858df7f7e244b39e2ea93bd 3107f8b/NQ Strategies' Name='Entry' New state='Submitted' Instrument='NG 07-16' Action='Sell' Limit price=2.677 Stop price=2.676 Quantity=1 Type='Stop Limit' Time in force=GTC Oco='' Filled=0 Fill price=0 Error='No error' Native error=''
2016-06-23 09:29:56:237|1|32|Order='a6858df7f7e244b39e2ea93bd 3107f8b/NQ Strategies' Name='Entry' New state='Rejected' Instrument='NG 07-16' Action='Sell' Limit price=2.677 Stop price=2.676 Quantity=1 Type='Stop Limit' Time in force=GTC Oco='' Filled=0 Fill price=0 Error='Order rejected' Native error='Sell stop or sell stop limit orders can't be placed above the market.'
2016-06-23 09:29:56:246|0|32|NQ Strategies, Sell stop or sell stop limit orders can't be placed above the market. affected Order: Sell 1 StopLimit @ 2.676 x 2.677
2016-06-23 09:30:48:072|1|4|Chart Trader close position
2016-06-23 09:30:48:074|1|4|Cancel all orders account='NQ Strategies'
2016-06-23 09:30:48:075|1|32|Order='cb3ee69f914549a7af288a890 90cdf02/NQ Strategies' Name='Entry' New state='Cancel submitted' Instrument='NG 07-16' Action='Buy' Limit price=2.687 Stop price=2.686 Quantity=5 Type='Stop Limit' Time in force=GTC Oco='' Filled=0 Fill price=0 Error='No error' Native error=''
2016-06-23 09:30:48:078|1|32|Order='cb3ee69f914549a7af288a890 90cdf02/NQ Strategies' Name='Entry' New state='Cancelled' Instrument='NG 07-16' Action='Buy' Limit price=2.687 Stop price=2.686 Quantity=5 Type='Stop Limit' Time in force=GTC Oco='' Filled=0 Fill price=0 Error='No error' Native error=''

[NinjaTrader_AlanP]

Hello Dolfan,

Thank you for writing in.

There is a standard delay when sending orders to the exchange and this particular error indicates that by the time your stop-limit order reaches the exchange, it is no longer at a valid price.

Sell Stop Limit orders must be placed below the current market price, while buy Stop Limit orders must be placed Above the current market price.

The errors you are receiving indicate that the price you are attempting to submit to is too tight. You will need to increase this to account for the standard bid/ask fluctuation for this contract you are trading.

A stop market order instead of a stop limit order should not act any differently when placing it so close to the best bid/offer.