ATM strat with stop loss and target order

[Angel]

Hello all,

Sorry for my bad English but this morning I meet a problem :

Using chart trader with an ATM strat with stop loss and target order, I wanted to close by hand all my open position by clicking on the CLOSE button but unfortunatly, NT entered another position. After that, I wanted to close this position but NT doesn't accept due to margin requirement.

I think that what I did would have flatten my open order but it didn't.

1) Did I miss or do something wrong, is it a problem of order settings in the ATM strat ?
2) By using chart trader with ATM strat and stop loss/target orders, what I have to do to CLOSE these orders ?
3) What's the difference between CLOSE and FLATTEN orders ?

Thanks for your carreful attention

Happy trading

Angel

[NinjaTrader_Eamon]

Hello Angel,

Did you have another limit order that was working and then filled before you were able to cancel? Or, did you accidently click the 'REV' button when trying to close out your open position?

The Close button functions like this when a position or strategy is closed; NinjaTrader goes through the following process;
Assume you are long the SP Emini contract at an entry price of 1000

1. NinjaTrader Identifies any working sell limit (your profit target)
2. Cancel all other orders.
3. Modifies the price of the identified working sell limit orders below the market so that they get filled instantly
4. Submit a sell market order if necessary for any leftover contracts that are not covered by the identified working sell limit orders

NinjaTrader converts the Limit order because many traders consume near 100% of their available margin. For example, you may have 1 contract position with one stop and target that consumes 90% of your margin. If you close a position by submitting a market order, the market order will get rejected due to insufficient funds and therefore cause grief if getting out of the position is critical. The difference between close and flatten is when using the close feature you will remove all orders and your position for the selected market only. The flatten feature will close and remove all orders for ALL markets in which you currently have a position.

More information on how NinjaTrader closes a position can be found in our user guide section here: http://www.ninjatrader-support.com/H...nStrategy.html

[Angel]

Closing open orders with insufficient funds

Hello Eamon,

Excepted one order filled 3 hours ago, I didn’t have another order that was working and then filled before I wanted to cancel. My be it was due to the web connection issues I encountered this morning ?

Concerning a wrong clicking on the “REV” button when trying to close out my open position, NO it’s impossible because NT didn’t accept to close all my position due to insufficient funds. In fact NT opened positions, so I was obliged to call the IB support desk because I was unable to close by myself this position. This problem cost me $5000.

For the margin, you’re right, I consume always 90% of my margin on one trade. In fact I risk 1% of my equity on EACH trade, I mean that I CAN’T enter a second order if my first order is NOT closed before. Is it clear for you ?

So the question is, knowing the fact that I consume 90% of the margin allowed on EACH trade, by using chart trader and ATM strat including stop loss and target limit orders, what can I do EXACTLY to close (and NOT open) by HAND my order if I need. Please elaborate.

Thanks Eamon

Happy trading

Angel

[Angel]

Eamon,

I have a message that appears saying that "Failed to send mail".

Becoz this is the first time I send an email like this, please what can I do to Ensure that send log and trace box is checked ?

Sorry to bother you by a such boring thing

Thanks for your patience

Angel

[Angel]

Eamon,

In the "Misc" tab of the pannel option, a message appears when trying a Mail test :

Failed to send mail:error connecting to servor.81.169.163.72

Thanks
Angel

[NinjaTrader_Eamon]

Eamon,

In the "Misc" tab of the pannel option, a message appears when trying a Mail test :

Failed to send mail:error connecting to servor.81.169.163.72

Thanks
Angel

Angel,

Please send an e-mail to "support AT ninjatrader DOT com". If you could include a phone number within your email so that I may contact you.