ATM Advanced Options - Chase Limit

[Rockford]

Hello,

I'm a forex trader, and I'd appreciate if someone could tell me what the value is for the Chase Limit settings under "ATM Advanced Options"?

Example: if Chase is checked off, and the Chase Limit value is set to 2, does this represent .2 (2 tenths) of a pip?

Thanks,
Rockford

[NinjaTrader_ChristopherS]

Hello Rockford,

The value will be for the smallest amount of movement for the instrument.

If you have forex set to display in tenth pip then a value of 2 for the chase limit can move the order up to 2 tenths of a pip.

[Rockford]

Hello Rockford,

The value will be for the smallest amount of movement for the instrument.

If you have forex set to display in tenth pip then a value of 2 for the chase limit can move the order up to 2 tenths of a pip.

Thanks for replying Christopher. I want to be sure I understand Chase and Chase Limit properly. Can you tell me if I understand this right from the following example?

I'm in Chart Trader, with Chase Limit set to 2 in my ATM, and I hit 'Buy at Ask', at a price of 1.2870. I'll get filled up to a price of 1.28702? If this is right, in your option what is a good Chase Limit to use?

Thanks,
Rockford

[NinjaTrader_ChristopherS]

Hello Rockford,

Auto Chase will automatically adjust the price of a limit order as the market moves away from it.

With a chase value of 2, the pending limit order can move up to 2 tenths of a pip.

Below is a link to the Auto Chase section of our help guide for further information.

http://www.ninjatrader.com/support/h...auto_chase.htm

[Rockford]

Hello Rockford,

Auto Chase will automatically adjust the price of a limit order as the market moves away from it.

With a chase value of 2, the pending limit order can move up to 2 tenths of a pip.

Below is a link to the Auto Chase section of our help guide for further information.

http://www.ninjatrader.com/support/h...auto_chase.htm

Christopher,

Thanks for your help, I just wanted to be sure I understood it right.

Rockford