Placing order while in a position

[shali27]

Is it possible to place a stop loss order and/or a limit close order while in a position? I'm center clicking on the SuperDom and it's telling me I have to select an ATM strategy. I'm using the free version currently.

[NinjaTrader_ChristopherJ]

Hello shali27,

Thank you for your post.

If you have an open position without any stop loss or profit target orders protecting it you can easily add these exit orders.

Please see a post in our support forum that outlines how to accomplish protecting an open position.

With this procedure you will need to set you ATM Strategy to None.

Please let me know if I may be of further assistance.

[shali27]

Christopher,

I have a free version of NT and believed that OCO orders are not available. However, I did try this in replay mode without success. Was able to switch over to OCO mode, but the limit orders placed on the SuperDom appear to be unrelated to the existing open order. The stop loss simply executed as a limit sell at market.

[NinjaTrader_RyanO]

Hi,

If you are bracketing an open position then the stop loss and profit targets are technically unrelated to the open position. With OCO you are tying the stop loss and profit target to each other so that one cancels if the other is filled.

The notion is that when you place orders on the opposite side of the market related to your current open position the bracketed orders will flatten your position, whether you are filled at the profit target or the stop loss target.

[shali27]

Ryan,

Why would you disable the OCO once these orders are in place? Also, is it possible to move them once you've placed them?

[NinjaTrader_RyanO]

Hi,

You disable OCO once you place the orders so that other orders are not tied to the ones that are protecting your open position, and can thus get cancelled if another of the orders is filled.

It is possible to modify the orders in the same you would with other order types. Please see the following link.

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

[shali27]

Are OCO orders available with the free version?

[NinjaTrader_RyanO]

Hi,

OCO orders, like all features of the software are available with the Free Edition License. The only thing that is not possible with the Free Edition License is the ability to trade a live account.

[shali27]

I was told by my broker that the free edition did not include the Automatic Trade Management or OCO orders. When I go live, will I need to buy or lease NT for these features. Will I not be able to include an automatic stop loss with my orders otherwise?

[NinjaTrader_RyanO]

Hi,

Rather than going back forth on multiple threads can you please send an email to support[at]ninjatrader[dot]com so that I can address each issue within the context of one reply.

As for your specific question your broker is referring to a Direct Edition License. This license enables you to trade live without the purchase of a Live Edition License. As a result certain features are disabled, including OCO orders. This license is different than the Free Edition License which enables access to all program features, but you can not trade live.