How do I add a stop-loss directly to a chart?

[onemorezero]

Hi,

I would like to be able to add a stop loss to an order directly on the charts rather than going via SuperDOM etc. Is there any way I can do this?

Regards,

James

[NinjaTrader_Cameron]

Hello James,

Thank you for your note.

This can be done with Chart Trader.

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?chart_trader.htm

Note that not all license keys are enabled for Chart Trader.

[vlad546]

I used to post a stop-loss order directly to a chart. Now it will not let me do it and I researched everywhere and cant find why and how can I get it back. I am in the market replay.

[NinjaTrader_Cameron]

Hello,

What are the options you have when you right click on your chart?

[vlad546]

Buy Stop, Sell Stop, Buy Limit, Sell Limit. But after my order gets filled, I want to put a stop-loss directly from the chart and when I right click after getting filled I don't get the sell stop option.

[NinjaTrader_Cameron]

Hello,

The order is going to be placed at the price level where your mouse cursor is.

Additionally it references the current trading price.

Above the current market price - Buy Stop Market, Buy Stop Limit, Sell Limit

Below the current price - Sell Stop Market, Sell Stop Limit, Buy Limit

[vlad546]

What if I want to put it a stop loss directly onto the chart after I placed the order?

[NinjaTrader_Cameron]

Hello,

Please see the following video for instructions on how to place a stop to an existing position.

http://screencast.com/t/grDKIiO465R

[XtraderFX]

Follow up on last answer

Hi, I watched the video and from what I see its pretty simple but my question is isn't this the same thing as OCO? If it isn't what would be the difference? Thanks in advance.

[NinjaTrader_Kyle]

Hello,

The order shown in Cameron's video is simply a sell order which could exit a long position. Since it is not linked with another order which would be cancelled when this order fills this differs from OCO where at least two orders would be used.

I hope that this helps to clarify however if you have other questions please let me know.

[XtraderFX]

Sorry still don't understand fully, for instance I went long on a trade without enabling OCO or any atm strategy, after I did that order I put a sell limit about 40 pips away, will this exit out my long position and then go short or will it exit out the whole trade and act as a take profit. This goes for my stop loss also if I put a sell stop 30 pips below or so will this cancel out the trade as well or will it continue to go down.

[NinjaTrader_Kyle]

Hello,

For example, I buy 1 then place an order to sell 1. When the sell order executes this will close my long 1 position. OCO is not used in this scenario.

If, on the other hand, I buy 1 then place one sell 1 order to exit at profit and 1 sell 1 order to exit at a loss I could link these orders with OCO to ensure that if I am filled on one order the other is cancelled.

[XtraderFX]

Ok so in any case of a buy or sell trade you can use either or to cancel the other out. You cannot use both a sell limit and sell stop on a long trade, for instance, without having OCO enabled? Am i getting this right? If I am can I enable OCO after the fact that I entered a trade or can this only work if I enable OCO first. Because like I said I'm in a long trade now and want to add both a SL and TP.

[NinjaTrader_Kyle]

Hello,

If you are placing multiple exit orders, OCO should be used to ensure that only one exit order can fill.

If you have an open position without an ATM strategy, and you wish to add a limit and stop order to protect the position please follow these steps:

Set strategy in the strategy selection drop down box to a value of
Right click in the SuperDOM or Chart Trader and enable OCO order placement by selecting the menu "OCO Order"
Then place a limit order where you want to exit at a profit
Then place a stop order where you want to exit at a loss
Then right click again and select the menu "OCO Order" to disable the OCO order placement
Now you have a target and a stop placed protecting your open position, and when one of these orders is filled the other will be canceled automatically.

[XtraderFX]

Ok that makes a lot more sense thanks, in the case that I have a long order with an atm strategy but only put a stop loss but not profit target, how would that work if I want to add just a profit target.