Creating Entry Stop Limit Orders that are simulated

[sgtrader888]

Hi,

I have seen that the Ninjatrader can create simulated stoplimit order under SuperDOM. I have also noticed that the order is not sent to the broker, in my case IB until the stop price / conditions have been reached. This creates alot of efficiency for my account as my account is small. So would i would be able to create this effect using EnterLongStopLimit? Or the moment the strategy creates the order, it is already sent to my broker which in this case is IB. However, I have also noticed that EnterLongStopLimit rejects limit prices lower than the stop price. Is there any way to circumvent it?

Thanks

[NinjaTrader_Lance]

Hello,

I think there might be some small misunderstandings here in terms of order types.

As it sounds you understand, Simulated orders reside on your PC and are not sent to the broker until they are hit.

It is not possible to have a simulated Limit order.

If you simulate a stop limit order the stop price would be simulated but not the limit.

Orders cannot be set as simulated orders in NinjaScript but you can mirror this functionality by calling an entry when conditions are met.

EnterLongStopLimit() takes both the stop and limit price. The stop price must ALWAYS be lower than the limit price when going long as this is how StopLimit orders work. Your broker will reject it otherwise.

For a better understanding of StopLimit Orders:

http://www.investopedia.com/terms/s/stop-limitorder.asp

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

[sgtrader888]

Hi Lance,

Thanks for the reply. Maybe I wasn't very clear. I wanted to know if the StopLimit orders are simulated in strategies just like SuperDom. I have not been able to tell from the user guides.

Thanks.

[NinjaTrader_Lance]

Hello,

StopLimit orders are not simulated on the SuperDOM or in strategies.

You can however place both of them to a Sim trading (paper trading) account if that is what you mean. When you run a strategy you will have the option to run it on a live account (if you have the paid version of NinjaTrader) or on the Sim101 account (or other simulated account, also with the paid version only). The same is true of the SuperDOM

For more information about simulated orders: http://www.ninjatrader.com/support/h...top_orders.htm

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