Cannot place stop/profit target through ATM strategy

[lolwut]

Hi,

I am running the simulation/free version of NT 6.5 and cannot place a stop order or profit target through the ATM strategy using superDOM.
For example, If I enter a long trade, I get an error saying "Sell stop or sell stop limit orders can't be placed above the market. Affected Order: Sell 1 StopLimit @ 1 x 0.998"
Under the ATM paramters, I have Stop Loss set to 1 and Profit target set to 8. I'm connected to the simulated data mode.

[NinjaTrader_VinceB]

Hi,

Please try submitting a Sell Limit order above the market. You can do this with your Left mouse button.

[lolwut]

Hi,

Please try submitting a Sell Limit order above the market. You can do this with your Left mouse button.

I can submit a sell limit order, but once the price reaches it, the same error appears as NT tries to place a stop limit order. I've included pictures of my problem.

Long.jpg is the error I receive when I'm going long and the stop loss needs to be placed at the ask. Short.jpg is the error I receive when going short and the stop needs to be placed at the bid.

[NinjaTrader_Chip]

Hello lolwut,

Sell Stop Market or Sell Stop Limit orders cannot be placed Above the current price. Likewise, Buy Stop Market & Buy Stop Limit order cannot be placed Below the market.

If you are looking to exit a current position, you will need to use a Limit order type to effect this Buy/Sell action.

If you want to set you stop loss on the Ask (if Long) or the Bid (if Short) then you can set the “Stop Loss” parameter of the SuperDOM to “0”. This however would probably be elected almost immediately and your position (if it was a Stop Market Order) would be liquidated.

However, after entering a position, you can automatically set your Stop Loss to Break Even after some amount of open profit is reached. You would do this from the Stop Strategy menu below the “Profit Target” drop-down menu in the SuperDOM. See this link for more info:

http://www.ninjatrader.com/webnew/trading_online_events.htm

You can find more info about the ATM Strategy Parameters in our Help Guide at this link:

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

Please also check out our Free Live Webinar events that focus on the SuperDOM:

http://www.ninjatrader.com/webnew/trading_online_events.htm

I have included some links to these sections in our Help Guide:
Managing / Submitting Orders:

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

Modifying & Cancelling Orders:

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?ModifyingAndCancellingOrders2

If I have misunderstood your question, please clarify exactly what Buy/Sell actions you are trying to take & I can provide more detail.

[lolwut]

Hello lolwut,

Sell Stop Market or Sell Stop Limit orders cannot be placed Above the current price. Likewise, Buy Stop Market & Buy Stop Limit order cannot be placed Below the market.

If you are looking to exit a current position, you will need to use a Limit order type to effect this Buy/Sell action.

If you want to set you stop loss on the Ask (if Long) or the Bid (if Short) then you can set the “Stop Loss” parameter of the SuperDOM to “0”. This however would probably be elected almost immediately and your position (if it was a Stop Market Order) would be liquidated.

However, after entering a position, you can automatically set your Stop Loss to Break Even after some amount of open profit is reached. You would do this from the Stop Strategy menu below the “Profit Target” drop-down menu in the SuperDOM. See this link for more info:

http://www.ninjatrader.com/webnew/trading_online_events.htm

You can find more info about the ATM Strategy Parameters in our Help Guide at this link:

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

Please also check out our Free Live Webinar events that focus on the SuperDOM:

http://www.ninjatrader.com/webnew/trading_online_events.htm

I have included some links to these sections in our Help Guide:
Managing / Submitting Orders:

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

Modifying & Cancelling Orders:

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?ModifyingAndCancellingOrders2

If I have misunderstood your question, please clarify exactly what Buy/Sell actions you are trying to take & I can provide more detail.

Yes I think you have misunderstood me.
The problem is, I'm trying to set a sell stop/buy stop order through ATM, but it will not do so, instead, it returns the errors shown in the images above.
For example, If I enter long @ market price, I expect a sell stop to be placed 1 tick below my entry, according to the parameters in Long.jpg. Ninjatrader does not place this stop order, instead it returns an error requiring my limit price to be greater than 0, when clearly it is as I entered @ market price.

[NinjaTrader_Chip]

Hello lolwut,

Thank you for your response.

For the screenshot with the error “Limit price must be greater than 0. Affected order: Sell 1 StopLimit @ 1 x -4”

Please check your Parameter type. Most likely, you have this set to ‘currency’ & therefore it is being interpreted at $1. This results in an error, since the limit price of the stop limit order is -4 and not valid. The stop limit order is submitted at the price of 1. Stop limit orders part of an ATM strategy will use a 20 tick offset (which cannot be changed), thus the limit offset is submitted at a price of -4. You may want to adjust your currency amount or select an alternative parameter; e.g. ticks.

You can make this modification in the SuperDOM Properties menu by:
1. Right-clicking on the SuperDOM
2. Select the Properties option.
3. Navigate to the General section & locate the “Parameter type”
4. You can make your changes here.
(see screenshot)

For the second error/screenshot “Buy Stop or Buy Stop Limit can’t be placed below the market: Affected order: Buy 1 StopLimit @ 1 x 6” is due to the price change taking place between the time the order was filled & the Stop Limit order (triggered by the ATM Strategy) is sent to the exchange. Because of this price volatility, the Stop Limit order is rejected by the exchange since the market has already moved below your Stop Limit price.

To avoid this error, you may want to consider increasing your Stop Limit price level that will accommodate the markets’ characteristic volatility.

[lolwut]

Hello lolwut,

Thank you for your response.

For the screenshot with the error “Limit price must be greater than 0. Affected order: Sell 1 StopLimit @ 1 x -4”

Please check your Parameter type. Most likely, you have this set to ‘currency’ & therefore it is being interpreted at $1. This results in an error, since the limit price of the stop limit order is -4 and not valid. The stop limit order is submitted at the price of 1. Stop limit orders part of an ATM strategy will use a 20 tick offset (which cannot be changed), thus the limit offset is submitted at a price of -4. You may want to adjust your currency amount or select an alternative parameter; e.g. ticks.

You can make this modification in the SuperDOM Properties menu by:
1. Right-clicking on the SuperDOM
2. Select the Properties option.
3. Navigate to the General section & locate the “Parameter type”
4. You can make your changes here.
(see screenshot)

For the second error/screenshot “Buy Stop or Buy Stop Limit can’t be placed below the market: Affected order: Buy 1 StopLimit @ 1 x 6” is due to the price change taking place between the time the order was filled & the Stop Limit order (triggered by the ATM Strategy) is sent to the exchange. Because of this price volatility, the Stop Limit order is rejected by the exchange since the market has already moved below your Stop Limit price.

To avoid this error, you may want to consider increasing your Stop Limit price level that will accommodate the markets’ characteristic volatility.

Thank-you for this, my "Paramter" was set to Price and not Ticks, resulting in the error.