Order Management

[ryebank]

Hi,

I'm looking to create an order management action, for buy/sell stop loss orders, which executes a market order when a range bar closes below/above a defined level. Is there anyway in NT to achieve this?

Regards

[NinjaTrader_AlexG]

Hello ryebank,
Thanks for posting today.

Yes, this can be done using our strategy development wizard or through custom NinjaScript strategy coding.

You can access the strategy wizard from the Control Center>Tools>New NinjaScript>Strategy...

From here you set conditions that determine when you enter the market and what kinds of orders you place.

Here is a link to a pre-recorded 'Automated Strategy Development Webinar' video for you to begin learning the process to create these strategies: https://www.youtube.com/watch?v=Maaq...56536A44DD7105

Also here is a link to our help guide describing the Strategy Wizard. http://www.ninjatrader.com/support/h...egy_wizard.htm

Please let us know if we may be of further assistance for anything NinjaTrader.

[ryebank]

see next message...

[ryebank]

An Example

Ok, so I've created an ATM strategy. When I enter a market order, via chart trader, various limit orders and stop loss orders are created, which is as expected, however in my account with interactive brokers it's creating double entries. I've checked the ATM strategy and it's set for 3 orders so i'm a bit lost as to why IB is showing duplicate orders

Images attached and what they are showing

NT CL - Open trade with stop loss and profit targets
IB - Orders sent from NT when position opened
Active ATM - Current ATM strategy
3 CL ATM - ATM strategy that should be used.

So many issues here to mention

1) Looking at the IB screen shot, it shows orders for 6 contracts when my position is only for 3, where is this 60.75 price coming from as you can see on the chart my stop is at 60.55

2) It looks to me like multiple ATM strategies are being employed. "3 CL Contracts" is the ATM strategy which should be used and was selected. However when i executed the trade this "* Active ATM Strategy 3 - 3 CL Contracts" is displayed, which looks like "3 CL Contracts" is being applied to "* Active ATM Strategy 3 - 3 CL Contracts" creating orders in IB for 6 positions and i don't know how to correct this now the trade is open.

Pretty dangerous situation to be in.....!

[ryebank]

maybe I've misunderstood how the orders work. If my position is 3 contracts then the orders need to be 6 so as to cover either profit limits or stop loss

[ryebank]

maybe I've misunderstood how the orders work. If my position is 3 contracts then the orders need to be 6 so as to cover either profit limits or stop loss

However I don't understand is where the 60.75 price is coming from. When this executes the stop loss at 60.55 i'm filled at 60.75

[NinjaTrader_AlexG]

Hello,
Thanks for the reply.

Please send me your log and trace files for today so that I may look into what occurred.

You can do this by going to the Control Center-> Help-> Mail to Platform Support.

Please reference the following ticket number in the body of the email: 1337222

I look forward to looking into what is occurring.

[ryebank]

email sent...

[ryebank]

I've noticed on futures trades a limit price is being sent to IB along with a stop where as FX trades don't. FX trades are being executed correctly....see images

Something to do with the types of orders being sent from NT to IB can't see in NT where you would state "STP LMT" as opposed to just a "STP". Yet "STP LMT" is sent

[NinjaTrader_AlexG]

Hello,
Thanks for the reply.

To answer you question regarding the 6 contracts when 3 are placed, this would be expected behavior as you would need 3 profit targets and 3 stop losses to to protect the position.

So this would appear as 6 contracts. The 60.75 is coming from this stop loss as the offset of 20 ticks. 60.75-60.55 = 20 ticks.

I've noticed on futures trades a limit price is being sent to IB along with a stop where as FX trades don't. FX trades are being executed correctly....see images

FX instruments do not support a stop limit so they are only submitting stop market orders. Where as futures do support submitting a stop limit and so a stop limit is submitted and accepted.

Both are being executed correctly but as different order types. If you wish to submit a stop market for your stop loss this can be changed from the chart trader properties.

• From inside the chart trader right mouse click and select chart trader properties.
• Locate the Use stop market for stop loss orders
• Change this to True to submit stop market orders for stop losses.

Note that this properties is ignored for FX where a stop market is used instead.

Please let us know if we may be of further assistance for anything NinjaTrader.

[ryebank]

OK I've changed the chart trader properties.

I upgraded NT this morning and this must have been changed then.


Thanks