strange orders on ATM

[tonynt]

Hello,

I did a live entry with an ATM where I have only set a stoploss but there was also a limit in the orders tab.

I did an entry again with SIM to show the screenshots.(parameters ATM).

The entry is done correctly (entryATM)

The orders tab shows the stop correctly but also a limit with 1919,25 (limitstopATM)


Why a limit?

Thank you
Tony

[NinjaTrader_Jason]

Hello Tony,

This is because the stop loss order is submitted as stop limit order. You can change it to a stop market order as follows. Please right click in the SuperDOM/ChartTrader and open the properties menu. Set 'Use stop market for stop loss orders' to True. Click OK.

[tonynt]

Hello,

thank you for your reply.

Sorry, this I do not understand. There is the entry at 1912,25 and there is the stop shown in orders tab at 1914,25 (8 ticks).

What is there at 1919,25? 7 points away from entry? and why 7 points away? and how do the 1919,25 and the 1914,25 match?

Thank you
Tony

Hello Tony,

This is because the stop loss order is submitted as stop limit order. You can change it to a stop market order as follows. Please right click in the SuperDOM/ChartTrader and open the properties menu. Set 'Use stop market for stop loss orders' to True. Click OK.

[NinjaTrader_Jason]

Stop limit orders will show two prices. The stop price and limit price. The stop price is where the order rests. The limit price is where the limit order will be submitted when the order is triggered. The difference is 5 points which equals 20 ticks. All stop loss orders submitted as stop limit order will be submitted with a 20 tick offset which cannot be changed. This is to ensure the market does not trade through the order.

[tonynt]

Hello,

thank you for your reply. The stopprice and the limitprice I see only in ATM.

Why isnt this also with exitlongstop(exitshortstop)? There appears only the - correct - stopprice in orderstab.

Thank you
Tony

[NinjaTrader_MichaelM]

Hello tonynt,

ExitLongStop and ExitShortStop submit stop orders (not stop limit orders).

A Stop Order (sometimes called a stop market order) submits a market order when the stop price is reached. As you know, a limit price is not used with a market order.

The combination of a stop price and a limit price are only used on a Stop Limit Order.

Please let me know if you have any further questions or if I may be of further assistance.

[tonynt]

Hello

thank you for your reply. Now I´m confused after few years working with NT already.

Before doing all the order handling I asked several times in the forum if there is a difference between setstoploss and exitlongstop (exitshortstop) and the answer was that they work same. But with the replies here I see there is a difference. Can you please explain me now the qualitative difference of setstoploss and exitlongstop(exitshortstop) or the stoploss in ATM. Thank you!

Is there any disadvantage when using exitlongstop (exitshortstop) or possible "danger" in case it should work but doesn´t work maybe?

Thank you
Tony

[NinjaTrader_MichaelM]

Hello tonynt,

Before doing all the order handling I asked several times in the forum if there is a difference between setstoploss and exitlongstop (exitshortstop) and the answer was that they work same.

These are both stop orders (also called stop market orders) and they essentially work the same.

SetStopLoss/ExitLongStop/ExitShortStop does not accomplish what occurs when you use an ATM strategy with "Use stop market for stop loss orders" set to false (which is the default setting).

Nor do they accomplish what occurs when you use the ATM strategy methods inside a NinjaScript strategy when you have the same setting to use stop market instead of stop limit set to false.

Here are the ATM strategy methods for your convenience: http://ninjatrader.com/support/helpG...ghlightsub=atm

In the circumstances described above, the stop losses are like the ExitLongStopLimit() and ExitShortStopLimit() methods of the managed order handling approach in that they are stop limit orders, NOT stop market orders.

Please let me know if you require further clarification or if you have any questions.

[NinjaTrader_PatrickH]

Hello momoko1234,

Thank you for your post and welcome to the NinjaTrader Support Forum.

I do not understand the context of your question. Can you provider further details?