Chase function on SuperDOM

[Spunkoid]

Hi.

Can someone explain just exactly how the Chase function operates? It seems not to work when a price limit has been entered and price is moving away from it. The limit hasn't been touched and price is moving away from it and consequently I'm not able to get in on a position. I operate a revolving position and I need real speed especially as I'm doing this on CL.

Await any responses.

Thanks.

[NinjaTrader_Jason]

Hello,

Before you submit your limit order, please enter a value next to "Chase limit" to specify the amount the Auto Chase will adjust your limit order price, then check "Chase" or "Chase if touch".

Submit your limit order and your limit order should chase the market when the market moves away from it. More information can be found in the link below.

http://www.ninjatrader-support.com/HelpGuideV6/AutoChase.html

[Spunkoid]

Hi.

Yes, I do that but it doesn't chase. Does it mean if I set it to 5 it'll only execute at 5 over the limit and not less?

[NinjaTrader_Jason]

If you enter a value of 5, your limit order will chase the market 5 times. After the limit order adjusted 5 times, it will remain on the same price.

Can you please tell me all steps you take upon using the Chase feature. I tested it on my end and all worked as expected.

[Spunkoid]

If instead I use a Stop of say 5 points, is that against the last executed transaction price or against the Limit Order price which I enter? Also can the Stop be continously adjusted if you want to do that in real time?

[NinjaTrader_Jason]

If you enter a value of 5 under "Stop loss" in your ATM strategy, your stop loss will be submitted at 5 ticks below your entry price; the price your entry order gets filled.

You can modify your stop loss by the click-and-click method. Click on the stop loss in the price ladder and you will see your cursor transform into a hand. Click on the price in the price ladder you like to modify your stop loss to and your stop loss will modify to this price. You can do this as many times you like.

[Spunkoid]

Thanks for your help so far.

Can I just put a Stop in and have no other order running? The reason for that is at anyone time I have a changing predetermined price for my next transaction.

[NinjaTrader_VinceB]

Hi,

I'm not sure if I understand your question, but here goes.

If you have a position on and you want to add a Stop, you need to submit a Sell Stop order below the market if your Long and submit a Buy Stop order above the market if your Short.

Let me know if this is the answer you are looking for.