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    How to do this?

    Dear sirs

    i have this strategy :
    long 2 contracts , Initial stop 4 ticks on both , Initial target 4 ticks for first contract ,
    breakeven +1 for the second contract as soon as the 4 tick target is reached.
    I can set it up finely , but i have a problem when the profit target is reached and the market is moving fast i could get a pop up error saying a sell stop order cannot be put above the market .
    I understand the logic behind this feature (it helps avoiding error in putting up orders) but is there a way to bypass the error message and be filled at the market , wherever the market is at that time on the second contract , which is exactly what i would like to do on my second contract if the market retraced at or below BE+1?

    #2
    Hello,

    Thank you for your post.

    Unfortunately only stop orders can be used as your stop loss. What you could do is spread out your auto-break even then if the market meets your conditions. Bring your 2nd target profit target down below the market price. This will work the strategy as a marketable limit order and allow you to exit the 2nd contract as a market order.

    Comment


      #3
      Originally posted by NinjaTrader_Eamon View Post
      Hello,

      Thank you for your post.

      Unfortunately only stop orders can be used as your stop loss. What you could do is spread out your auto-break even then if the market meets your conditions. Bring your 2nd target profit target down below the market price. This will work the strategy as a marketable limit order and allow you to exit the 2nd contract as a market order.
      Eamon

      could you articulate how to do that ? it's not clear to me what you are suggesting.

      Comment


        #4
        Originally posted by max1ci6 View Post
        Eamon

        could you articulate how to do that ? it's not clear to me what you are suggesting.
        You will need to take the profit target click on it. Then depending if you are long or short you will drag this above or below the market price. This will change the limit price of your resting limit order (profit target) to a marketable price.

        Comment


          #5
          Originally posted by NinjaTrader_Eamon View Post
          You will need to take the profit target click on it. Then depending if you are long or short you will drag this above or below the market price. This will change the limit price of your resting limit order (profit target) to a marketable price.
          Eamon

          thanks for answering , in fast markets that's not a viable alternative because there is not the time to do that manually.
          Anyway thanks for your time.

          Comment

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