ATM Limit Orders

[carbtrader]

When entering in an ATM order, seems the stop is a "stop market order".

Is there a way to make it automatically create a "stop limit order" when using an ATM, instead of a "stop market order"? (I realize there's a risk of not getting filled with the limit order)

Also, is the profit target from an ATM order a "market order" or a "limit order"?

Thanks!

[NinjaTrader_RJ]

When entering in an ATM order, seems the stop is a "stop market order".

Is there a way to make it automatically create a "stop limit order" when using an ATM, instead of a "stop market order"? (I realize there's a risk of not getting filled with the limit order)

Also, is the profit target from an ATM order a "market order" or a "limit order"?

Thanks!

Hello carbtrader,

Thank you for your post.

Please right click in your SuperDOM and select Properties. At the bottom of the list you will see "Use stop market order for stop loss orders." You can adjust what type of stop is used here. Please see the note at the bottom when you click in this field for limitations with certain exchanges.

Targets are limit orders.

[carbtrader]

awesome thanks!

[carbtrader]

I just tried this out on a sim account with the ES, but perhaps it works differently live.

Does the sim. take into account that flag setting "Use stop market order for stop loss orders."? I have it set to False.

I've tried this a few times and on the the Orders tab screen while the position is open for the Stop Order Type a value shows under the "Stop" column instead of the "Limit" column. And when filled the Order Type changes to the word "Market" (instead of "Limit").

And the fill does seem like a market order because I have the ATM strategy set the stop to be breakeven + 1 tick after a certain level of profit, so when stopped out I should have a profit of at least one tick if the stop executed as a Limit order. Instead the P/L under the Account Performance / Trades says the trade had $0 profit. (The Orders tab fill shows the executed Average Price is the same thus the $0 profit).

Perhaps there's something I'm not understanding. Thanks for any clarification!

Edit: I've attached some screenshots.

1st) Order Tab while position is open. (Notice 2nd line Sell Stop the 1009.25 is under the Stop column. Also in the DOM, the green line (1009.00) was the entry price for the long position and the stop is at 1009.25).

2nd) Order Tab after position is filled. (Noticed 2nd line Sell Order Type changes to "Market" and Average fill set to 1009.00 - same as entry although the DOM and Stop price (which should be a limit) was set to 1009.25)

3rd) Performance / Trades showing P/L for trade was $0. (Should be one tick profit if the stop limit had executed at 1009.25)

4th) Properties of DOM where the trade was executed showing "Use stop market order for stop loss orders set to False.

[NinjaTrader_RJ]

The ES is traded on the Globex exchange, where unfortunately NinjaTrader does not support the stop-market option with ATM Strategies as noted below the property when you change it.

This will be changed in NinjaTrader 7.


Please see this link for the latest news on NinjaTrader 7: http://www.ninjatrader.com/webnew/NT7/NinjaTrader7.html

[Turtle Trader]

Clarification on ES Target

Hello,

Are you saying that it is not possible to set the Target exit on an ATM to submit a Market order?

If it does not then I will have to put my Target one tick below (long) or above (short) where I want it to trigger.

Please advise, thanks

[NinjaTrader_RJ]

Hello,

Are you saying that it is not possible to set the Target exit on an ATM to submit a Market order?

If it does not then I will have to put my Target one tick below (long) or above (short) where I want it to trigger.

Please advise, thanks

Correct, market if touched orders are not supported.

[carbtrader]

Globex not supporting "stop market" is exactly what I want. I want it to do "stop limit" not "stop market". However, the exits doesn't seem to be a "stop limit" as the property comment suggests and instead does the opposite as a stop market.

ie. I want it to exit at the stop limit price of 1009.25 since the stop was at that tick, instead of it simulating a stop market/slippage order entry and getting an exit filled at the lower 1009.00 price below the stop price of 1009.25.

The ES is traded on the Globex exchange, where unfortunately NinjaTrader does not support the stop-market option with ATM Strategies as noted below the property when you change it.

This will be changed in NinjaTrader 7.


Please see this link for the latest news on NinjaTrader 7: http://www.ninjatrader.com/webnew/NT7/NinjaTrader7.html

[NinjaTrader_Bertrand]

carbtrader, I'm not sure I follow what you're looking for - a stop limit order is placed per default for the ES on Globex. Are you referring to the standard 20 tick offset used?

[carbtrader]

carbtrader, I'm not sure I follow what you're looking for - a stop limit order is placed per default for the ES on Globex. Are you referring to the standard 20 tick offset used?

What I'd like for it to do is when using the ATM and entering in a value for the stop loss for the ATM when it executes for it to use a "stop limit" order at the current stop loss price.

ie. in the first screenshot of my previous post for the Sell Stop, is there a way for the ATM to default to a "Stop Limit" and thus put in the same value in *both* the Stop and the Limit columns (instead of just the Stop)?

I can cancel the Stop/Target created by the ATM and manually enter in my own OCO with the Stop being a SLM (stop limit order - purple line in the chart instead of red). I'd want the ATM to be able to automatically do this.

[NinjaTrader_Bertrand]

carbtrader, unfortunately this is not possible as the ATM generated StopLimit stop order would use the default 20 tick offset, changing this is on our list for future versions already.