Globex Stop Limit Orders

[ikeaboy]

Hello,

can anyone tell me how it is working with the globex stop limit orders?

The purpose of a stop loss is IMHO to prevent losses - however when the globex stop loss orders are stop limit orders then it could be the case that price gaps through my stop level and i am not stopped out?!

So where can i define the range within i want my stop go get triggered?

In the chart trader properties it does not make sense to set the "use stop market for stop loss orders" because the describtion says "This property is ignored for ... and globex where stop limit is used" - right?

Thanks a lot!

[NinjaTrader_RyanO]

Hi ikeaboy,

Thank you for your post.

The Stop Loss order limit offset can not be defined within NinjaTrader. It is, however, set at 20 ticks so that it is large enough that the market will not gap beyond the limit order.

This is a requested enhancement and it is being considered for inclusion within future versions of NinjaTrader.

[ikeaboy]

is it 20 ticks for every instrument? i am especially interested in currency futures and equity indizes...

is it defined to 20 ticks by the exchange or hardcoded in ninjatrader?

[NinjaTrader_RyanO]

Hi,

It is based on the tick size of each instrument and is always 20 ticks per instrument, and is hard-coded within NinjaTrader. At this time the value can not be modifed, but it has been requested as an enhancement.