Problems with orders

[clioloko]

Hi, well, first, i'm sorry for my english level...

I have some problem submitting my orders in forex. I have been using nt7 for a long time, but always in the ES mini SP future, and there i have no problems with the order.

The problem comes when I submit and order in forex, i my case I'm using the GBPUSD. Well, when i put a "buy stop" or "sell stop" order in chart, it never take where i want to take it, i mean, if i'm selling with "sell stop" the order is submited 1 or 2 pips before the price touch it. And the same problem for stoploss, so if the price hasn't a strong movement, it's being very hard for me to trade in forex...

I don't is there is problem about setting on my orders or its normal in forex. If you could please help me it would be nice.

Thanks and sorry again for my poor english.

[NinjaTrader_Jason]

Hello clioloko,

Can you please send me your log and trace files. Please include at what day and time the order was submitted and at what price. Go to Control Center-->Help-->Mail to Support. Put 'Att Jason, Problems with orders' in the subject header and enable 'Log and trace files'.

[clioloko]

Hi Jason, i don 't remember how to send log files, i did it months ago with another problem i had, but i don 't remember how i did it.

If you could tell me please.

Thanks.

[koganam]

Hi, well, first, i'm sorry for my english level...

I have some problem submitting my orders in forex. I have been using nt7 for a long time, but always in the ES mini SP future, and there i have no problems with the order.

The problem comes when I submit and order in forex, i my case I'm using the GBPUSD. Well, when i put a "buy stop" or "sell stop" order in chart, it never take where i want to take it, i mean, if i'm selling with "sell stop" the order is submited 1 or 2 pips before the price touch it. And the same problem for stoploss, so if the price hasn't a strong movement, it's being very hard for me to trade in forex...

I don't is there is problem about setting on my orders or its normal in forex. If you could please help me it would be nice.

Thanks and sorry again for my poor english.

When you use Stop Orders for entry, you are buying at the Ask; selling at the Bid. If the Bid/Ask spread is wider than 2 ticks, what you are seeing is what you will get. If you want to be filled at a specific price, use Limit Orders. Stop Limit orders are just fine too.

[NinjaTrader_Brandon]

Hello clioloko,

Thanks for your reply.

You can email your log and trace files within NinjaTrader by going to Help> Mail To Support
By default it checks to include the log and trace files. Please put ATTN Jason and include a link to this forum topic in the message.

If you are unable to send the files like this please manually send them in an email as attachments to support[at]ninjatrader[dot]com. Please put ATTN Jason and include a link to this forum topic in the message.


You will find the log file on your PC in the (My) Documents > NinjaTrader 7 > Log folder.
The log file will be named "log.20140523.txt"

You will find the trace file on your PC in the (My) Documents > NinjaTrader 7 > Trace folder.
The trace file will be named "trace.20140523.txt"

[clioloko]

Ok i did it by "mail to support", if you need me to do it manually, just tell me to follow Brandon instructions.

Thanks.

Koganam, my problem is that sometimes i put my order, the price doesn't touch it but it get submitted anyways. In Mini SP 500 the stop orders are only submited when the price really touch it and the get submited EXACTLY in the place where my order is, not 2 tics up/down.

Thanks you too, sorry again for my english.

[NinjaTrader_Brandon]

Hello clioloko,

Thanks for your reply.

A support representative will review your files and respond to you by email with their findings.

[koganam]

Ok i did it by "mail to support", if you need me to do it manually, just tell me to follow Brandon instructions.

Thanks.

Koganam, my problem is that sometimes i put my order, the price doesn't touch it but it get submitted anyways. In Mini SP 500 the stop orders are only submited when the price really touch it and the get submited EXACTLY in the place where my order is, not 2 tics up/down.

Thanks you too, sorry again for my english.

Price does not touch the order where? In the DOM or on the chart?

[clioloko]

On the chart

[koganam]

On the chart

The price on the chart is the Last price, the price at which the pair last traded. It is not necessarily the Bid or Ask price. In Forex, they are almost never the same as the Last. You trade at the Bid or Ask, certainly so if you use a Stop order, unless it is a Stop Limit order.

That is why many Forex dealers do not charge commissions; they make money on the Bid/Ask spread.

If you want to be filled at a particular price, use Limit orders. If you use Market orders, with Forex, there will always be noticeable slippage. If you use a StopLimit order and are not filled at the price or better, only then will there be something to discuss.

[clioloko]

Well, i'm trying using stop LMT orders. When the stop limit order is for selling, it works really nice, as you say, the order get submited in the same place where the order is. It doesn't work as good with BUY stop LMT orders, wich is strange because it should be the same for buying and selling isn't it?

When i put a buy stop limit order, it still getting submited 1 or 2 pips before the price touch the order.

Excuse my insitencem but its important for my trading to know exactly how does it work.

Thank you very much.

[NinjaTrader_Jason]

Hello clioloko,

Buy orders are filled at the ask price.

Charts are build of last price as koganam mentioned, which is actually the bid price with forex.

This clarifies why sell orders are justified by the prices in the chart and buy orders not.

[clioloko]

Thanks jason, its clear now. Only one more thing, you say that actually forex charts are working with bid price, that means that it will always be like this? I mean, when does forex change to ask?

Thanks again, my knowledge about forex is zero.. hehe

[NinjaTrader_Jason]

The last price (black price marker) you see in the forex chart is the bid price. You could set the chart to ask price. Please right click in the chart and select 'Data Series'. Set 'Price based on' to Ask.

[clioloko]

Ok Jason, thank you very much, thank you too konagam.