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Can I trade SPY off ES chart?

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    Can I trade SPY off ES chart?

    Just wondering if it's possible to trade off of the charts in Ninjatrader, but have your order buy or sell a different security from what's on the chart?

    For example, I'd like to have a chart of the ES up, but when I place my order on the chart to buy or sell, it sends an order to buy or sell SPY instead.

    For my trading I basically trade SPY using a chart of the ES. However, I'm unable to place my stops and limits in the DOM because I'm not sure precisely what level SPY corresponds to in the ES, especially in a fast moving market, so I have to basically eyeball it and when the ES breaks through a level I want to sell at, I have to quickly send a market order to sell SPY in the DOM. Lots of slippage this way. It would be nice to just have a line on the ES chart and when price hits it, an order to buy or sell SPY would be sent.

    I'd be using Interactive Brokers with chart.

    Thanks for any help. -Mark

    #2
    Are you day trading?

    It's been a while since I've reviewed the rules - but from what I remember:

    Aren't futures still better to trade than equites with the wash sale rule?

    Isn't there a day trader pattern rule still? (You need at least 25k to avoid it?). 5 trades in 5 days gets you locked out for a while.

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      #3
      Yes I day trade... I have over 25,000 in my account. I trade a strategy that works better with SPY for me. Any ideas if what I want to do with the chart is possible? Trade spy off the es chart?

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        #4
        Hello Mark,

        This is possible to do by adding two series to the chart and setting the spy's colors to transparent. Then set the ES future chart with the scale justification on overlay and set to the same panel as spy.

        Notice the instrument in chart trader will be the instrument aligned on the right or left (but not overlay).

        Below is a link to a video that demonstrates.

        https://drive.google.com/file/d/1Rkp...w?usp=drivesdk
        Chelsea B.NinjaTrader Customer Service

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