Issue with Tradestation Limit orders

[padddler]

Hi there,

I have Tradestation and an IB account that I've set up with NT to place trades using the email interface. I also have a strategy that I'm now testing live and have noticed a problem that needs to be resolved. The strategy has a very simple buy rule:

If...and close crosses below...
then buy n contracts next bar at open limit;

This however is giving me a problem that I'm not sure how to resolve. In TS the entry limit price is the Open price of the new bar. However in NT the limit price is pulled from the prior bar's Open price. Given that this is a mean reversion strategy this essentially works like a market order. However, I would like the limit entry price to be Open price of the new bar.

Addendum: Order handling is set to "Submit and forget", and my profit and stop loss orders are doing as expected.

Any ideas how to make this work?

Any help with this will be greatly appreciated.

Thank you

[NinjaTrader_Bertrand]

Welcome to our forums here padddler. The difference is that we would not know that order type, so placing an order for the open, since that would not be known at time of placement. You could only place it once the open was known. So one workaround may be to place a limit order +- a tick off the close price, as for a liquid instrument would be pretty likely in that range? Or you would wait in TS for the open tick of the new bar to print and then issue the entry only?

[padddler]

Thank you very much Bertrand, I'll work with those ideas in mind.