Limit order issue (Strategy shuts down)

[tradereight]

EnterLongStopLimit works fine in an atm strategy but not in a ninjascript strategy

would be nice if in the help section there could be an example how to use the ENTERLONGSTOPLIMIT function

there is currently only a help section for

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?EnterLongLimit

but not for

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?EnterLongStopLimit

i simply want to trigger a stop order on the high +1 Tick of prior bar and then once this price is reached a limit order of -4 tick of the current price should be placed..

when using this command
EnterLongStopLimit(DefaultQuantity, High[0] - 4 * TickSize, High[0] +1 * TickSize, "long");

i get an order rejected error with the message: price cant be smaller than the stop price.

if i place by hand (with the chart trader) a LongStopLimit order above the market with -4 Ticks then everything is working fine (limit order can be smaller than the stop price: once my stop price is reached a limit order is placed and filled.

[NinjaTrader_JoshP]

tradereight,

Not sure why you can't view the article on EnterLongStopLimit from the help guide. http://www.ninjatrader-support.com/H...gStopLimt.html

It should be available.

No, stop-limit orders cannot be filled with limit orders below the stop price. Stop-limit orders convert to limit orders when the stop price is breached. Limit orders try to guarantee you filled at the limit price or better. For longs, limit price or better means limit price or lower. If your stop price is above the limit price and you breached the stop price you are automatically above the limit price. You will not be filled ever. This is why the limit price needs to be greater than the stop price.

[Koffie]

I got the same problem in my Ninja script. My EnterLongStopLimit order is rejected because the Limit price is smaller than the Stop price.

But when I generate the same order on my Interactive Broker account it is normally executed. It becomes active when the Stop price is hit and waits till the Limit price is hit. It seems like it's a valid construction.

Also when I backtest my strategy with the Limit price smaller than the Stop price it is also execute fine. I get the results that I expect.

Why won't it work when the strategy is run against real data?

Thanks in advance.

[NinjaTrader_Bertrand]

Koffie, because in historical backtesting there's no bid / ask data available, which would be used in a realtime trading and simulation.

[wenzi]

Koffie,
Maybe this will help. Market If Touched / Limit If Touched Orders In Ninja Trader

[Koffie]

Guys,

Thanks for the comments. Reading the page about the MIT and LIT it seems to be a good alternative for the StopLimit orders. I am going to implement this in my strategy!

[gregid]

Spelling mistake

Hi Josh

The reason why tradereight couldn't open help article is because of the spelling mistake in the article's address and title:
it says:
EnterLongStopLimt()

instead of
EnterLongStopLimit()

And BTW in the example code of this help article uses the following:

EnterLongStop(High[0] + 2 * TickSize, High[0], "SMA Cross Entry");

which is another mistake

[NinjaTrader_JoshP]

Thank you for bringing this to our attention.