Target and Stop Rejected when trading ZB

[lonestar]

Hi,

I'm using an ATM strategy with a 6 ticks stop and 6 ticks target to trade ZB.

However my stop and target keeps getting rejected with the following message:

Rejected: Order price is outside bands 'Difference between stop and limit price is larger than banding value of 0.5 using Delta .00' Exchange Reject Code = 2179[]

Please can you advise what did I set up wrongly?

Thanks,
Kelvin

[NinjaTrader_Brandon]

Hello Kelvin,

Thanks for your post.

Are you manually trading the ATM strategy or are you using a NinjaScript strategy?

[lonestar]

Hi Brandon,

I'm using the ATM Strategy located in the ChartTrader panel and setting both the Stop Loss and Profit Target to value of 6.

Not sure if I answered you right.

Thanks.

[lonestar]

Just to add, i was using the same ATM strategy on other instruments like CL, YM, 6E, etc and I did not encounter the orders rejection problem.

Thanks.

[NinjaTrader_Brandon]

Hello Kelvin,

Thanks for your reply.

To resolve this you will need to adjust your ATM strategy to use stop market orders rather than stop limit orders.
To do this, right click on the Chart Trader and select Properties
Under'Use stop market orders for stop loss orders' select 'True'

The reason this must be done is NinjaTrader has a built in stop limit offset value of 20 for ATM stop limit orders and this offset is too large for this instrument.

[lonestar]

Thank you for all the prompt responses Brandon.

One other question please, by setting the 'Stop Market Orders' to True, will it impact anything? I mean are there any things/impacts I need to be aware of?

Thanks.

[NinjaTrader_Brandon]

Hello Kelvin,

Thanks for your reply.

Just that it will now use a stop market order. With a stop market order, once the stop is reached, you will be filled at market price.

[lonestar]

Hi Brandon,

My ZB stop and target are getting rejected again with the same error message:
"Rejected: Order price is outside bands 'Difference between stop and limit price is larger than banding value of 0.5 using Delta .00' Exchange Reject Code = 2179[]"

I had set the 'Use stop market orders for stop loss orders' to 'True' as advised but somehow my stop and target for ZB are getting rejected again.

Please would you know what other settings i might have to alter to fix the problem for the instrument ZB?

Thanks.

[NinjaTrader_Brandon]

Hello lonestar,

Thanks for your post.

To resolve this you will need to right click on your order entry window (example: Chart Trader, SueprDOM) and select Properties
Under User Stop Market Orders For Stop Loss Orders select True

This change is needed because NinjaTrader's built in stop limit offset is too large for this instrument. This cannot be changed so you must use stop market orders for your ATM strategy.

[lonestar]

Hi Brandon,

I had done that as previously advised and it worked fine for a few days but the error came back again last Friday and today again.

Any idea why is that happening?

Thanks.

[NinjaTrader_Brandon]

Hello lonestar,

Thanks for your reply.

You will need to check if this setting has changed.
Note that if you did not set this as default any new windows you open will need to have this setting put in.
Additionally any workspaces that you have not saved this change to each open window will not have this setting apply.

[Jeremytang]

How to set this settings programmatically

Hi, a customer of ours is reporting this issue with when an ATM is created pragmatically with our software. However, I do not see any option to change this setting in code. Can you lead me down the right path?

Jeremy

[NinjaTrader_PaulH]

Hello Jeremytang,

Thanks for your post.

There is no option available to change through Ninjascript that I can find.