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Setting Bond ATM

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    Setting Bond ATM

    I use ATM strategies feature quite often. Mostly just setting a target and stop. I have been able to do this on several futures symbols.

    However, EVERY time I try to use a simple ATM strategy on a bond trade (ZB) I ALWAYS get this message:

    "Order price is outside bands difference between stop and limit price is larger than banding value of .5 using delta 1.0"

    I am not doing anything differently than in any other trade, but I get this message.

    #2
    Hello mdblythe,


    Thank you for your forum post.


    To resolve this with NinjaTrader you will need to adjust your ATM Strategies to use stop market orders.

    You can do this by right clicking on your order entry window and selecting Properties
    Scroll to the bottom and under Use Stop Market for Stop Loss Orders change it to True
    Select Apply and OK

    The reason for this is NinjaTrader has a set 20 tick offset on stop loss orders with ATM Strategies. This can not be modified and is greater than what is excepted on the ZB. Changing to stop market orders will allow the ATM Strategy to properly function.

    Below I have provided a link to the CME Globex Product Reference Sheet.



    This may occur due to the exchange not allowing stop market orders and as such the broker turns the order into a stop limit behind the scenes. When the broker turns the order into a stop limit, when NinjaTrader modifies the price it will only modify the stop price and does not modify the limit price since the order was returned as accepted as a different order type then NT submitted.

    Therefor its a good idea to use the right order type with the right market so this would only apply to markets that do not accept stop market.

    As far as this scenario this is scheduled to be looked into by development for next major release of NinjaTrader so that if the order does change that we are aware of it and modify the limit price as well.
    Ryan L.NinjaTrader Customer Service

    Comment


      #3
      same

      thanks Ryan! I had been receiving the same message for weeks and was "this" close to switching to another platform.

      many thanks for the response.

      Comment


        #4
        Pat, I see you are relatively new to the forum and so I assume to Ninja. There may be several minor issues like this, just getting the platform set up for your needs, but these guys are SUPER in helping with these platform questions, take advantage of it, most of the time it's a very simple solutions.

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