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NinjaTrader breaking down order quantity?

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    NinjaTrader breaking down order quantity?

    Hi,

    I'm running a short strategy on stock using interactive brokers. This happens pretty often now and I can't figure it out. An example:

    I shorted 349 shares of stock, in one order, one execution
    After entry, Ninja generated 4 Stop orders to cover in quantities of: 6, 43, 2, 298.

    Any ideas on why this is happening would be greatly appreciated.

    Thanks,

    Pete

    #2
    Hello Pete,

    This is going to be due to how the Stop orders are going to be submitted or the settings of NinjaTrader.

    Do you use the SetStopLoss() method? If so then this is going to be due to the your strategy settings and your order being part filled.

    By Default, NinjaTrader is going to use the "PerEntryExecution" for the "Stop & target submission" which when this is selected, a stop loss, trail stop and/or profit target order is submitted for each partial fill received. The downside is if your broker charges commission per order, you can incur very expensive commission costs if you receive partial fills. The upside is that orders are submitted as soon as possible giving you the advantage of getting into the order queue immediately.

    If you would like one order you may want to change this to "By Strategy Position" which when this is selected, only one stop loss, trail stop and/or profit target order is submitted. As entry executions come in, the order size is amended. The downside of this approach is that if you have partial fills, the orders are re-inserted into the exchange order queue. The upside is that if you broker charges you a per order commission (not per lot), you will not incur additional commission expenses.

    http://www.ninjatrader.com/support/h...d_approach.htm

    Otherwise, let me know how you are placing your Stop orders and I would be happy to help.
    JCNinjaTrader Customer Service

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