Stop Question

[nepenthean]

Hello.


If I offer 5 contracts and only get filled on 2 before price moves down, will my buy stop only be for 2 contracts? I am sure it would be, but I just wanted to ask.

Thanks

[NinjaTrader_JC]

Hello nepenthean,

You will be filled up to your 5 contracts if the price moves down if you use either a Buy Stop Order or a Buy Stop Limit order.

The reason for the Stop Order is because the Stop Order once triggered will submit a Market Order to fill your order up.

The reason for the Stop Limit Order is because the Stop Limit Order once triggered will submit a Limit order to be that price or better, so since the markets moving down the buying price is better than the limit price.

http://www.sec.gov/answers/orderbd.htm

Happy to be of further assistance.

[nepenthean]

Thanks for the reply!

Could I ask more?


1) When I start market replay it defaults to 2/11. Can I reset this somehow?

2) Is there training to become support for NT as employment?


Thanks.

[NinjaTrader_Kyle]

Hello nepenthean,

Thank you for your post.

1.) This indicates that 2/11 is the oldest replay file you have downloaded on your PC. You can always download additional data via the File > Utilities > Download Replay Data menu.

2.) All support training is internal however if you believe you have something to offer, please send us a cover letter and resume at Support AT NinjaTrader DOT com.

[DonPenni]

Comex and stop market orders

How the Comex/Globex order is implemented in the CQG connection when I set the "Middle mouse button is stop market" in the SuperDom Properties ?

First sent to the CQG servers and when the stop price is met then to the exchange ?
If so how far (ticks) is the limit price in the order sent to the exchange ?

[DonPenni]

How the Comex/Globex order is implemented in the CQG connection when I set the "Middle mouse button is stop market" in the SuperDom Properties ?

First sent to the CQG servers and when the stop price is met then to the exchange ?
If so how far (ticks) is the limit price in the order sent to the exchange ?

I found the answer for my first question but the second question is still valid...

[NinjaTrader_JC]

Hello DonPenni,

Welcome to the NinjaTrader support Forums!

Using a Stop Market Order, once the stop price is hit your broker will make a Market Order.

If you would like to specify a Limit Price after your stop is hit then you will want to use a Stop Limit Order "SLM" inside of NinjaTrader so when your stop price gets hit it will submit a limit order is placed so you can better control your fill price.

By Default inside of NinjaTrader you submit a Stop Limit order by using the "Middle mouse button" but with "Middle mouse button is stop market" set to "true" inside of the SuperDOM properties then you will want to hold down the "Ctrl" key and then "Middle mouse button" click inside of the SuperDOM window.

When you do this a box just outside the column where you can specify the number of "ticks" you can place your limit order.

Here is a link to our Help Guide that show hows you may place different orders and links to video demonstrates for each as well.

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

[DonPenni]

Hello DonPenni,

Using a Stop Market Order, once the stop price is hit your broker will make a Market Order.

This case was for the COMEX/Globex orders so the exchange does not support the market orders. Broker cannot make a market order.

So, my question again: When the broker is sending a limit order (or stop limit order which is natively supported) to the exchange what will be the limit price in this case where I am asking to do a stop market order (middle mouse button set up to do so) ?

[NinjaTrader_JC]

Hello DonPenni,

Submitting a Stop Market Order, NinjaTrader is not going to try to submit limit order so we would not know at what price this is being submiited.

If you submit a Stop Limit Order is the only time NinjaTrader is going to know what the Limit price is going to be set to.

What I believe you are referring to is the "Market Order with Protection" or the "Stop Order with Protection" that the exchange is going to support. If this is the case you may want to talk to your broker more about this.

Happy to be of further assistance.

[DonPenni]

Hello DonPenni,

What I believe you are referring to is the "Market Order with Protection" or the "Stop Order with Protection" that the exchange is going to support. If this is the case you may want to talk to your broker more about this.

Happy to be of further assistance.

No this is not the case. I am talking about the "stop market orders" generated by the Ninjatrader.

But now I understand how the things are working. It is CQG who will know the used limit price (how many ticks it is off from the current market price).

I will ask them and will report the answer here

Thx

[DonPenni]

I got the answer.

They said they do not give a support for Ninjatrader. Amyway they made an exception and told me that the order is converted to the limit order in the exchange.

I checked the exchange rules and found the following information.

---

Market with Protection
Market orders at CME Group are implemented using a “Market with
Protection” approach. Unlike a conventional Market order, where
customers are at risk of having their orders filled at extreme prices,
Market with Protection orders are filled within a predefined range
of prices (the protected range). The protected range is typically the
current best bid or offer, plus or minus 50 percent of the product’s
Non-Reviewable Trading Range. If any part of the order cannot be
filled within the protected range, the unfilled quantity remains on
the book as a Limit order at the limit of the protected range.

[DonPenni]

To see how much the Non-Reviewable trading range for each product is please see http://www.cmegroup.com/rulebook/CME/I/5/5.pdf (page 46)