Live Order - Stop Loss Order

[inv97ia4xrs6]

Hello,

We are in several live stock trades (using the TDAmeriTrade datafeed).

We place the stock buys in NinjaTrader 7.

We just noticed that the stop-loss orders that we place keep disappearing and then saw that the TIF for each of them defaults to Day, not GTC.

How do we change our current stop-loss orders to GTC?

And how do we change the deault TIF to be GTC?

[NinjaTrader_Kyle]

Hello inv97ia4xrs6,

Thank you for your post.

In NinjaTrader 7, the Time in Force (TIF) menu will load in alphabetical order whenever NinjaTrader is restarted or when a new order entry window is opened. Due to this limitation, the Day Time in Force setting would always be selected by default. There is no way to set GTC to be used by default in this release of NinjaTrader.

In the NinjaTrader 8 beta it is possible to save the TIF setting of a window within your workspace so that your desired TIF setting is selected as soon as NinjaTrader has started.

In either version of the software it would not be possible to change the TIF setting of an order once that order has been placed. The only way to change the TIF setting which is used would be to cancel your existing orders then place new orders using a GTC Time in Force setting.

If other questions come up which I could assist with please let me know.

[inv97ia4xrs6]

Hi Kyle,

If I understand correctly, this makes absoluely no sense at all.

That would mean each day I would need to go and place a new stop-order for every single stock position I have. If I have 25 stock positions, then each day I would need to place 25 stop-loss orders?

That would be 125 stop-loss orders per week, 500 stop-loss orders per month and 6,000 stop-loss orders per year, on my existing long-term stock positions. Is that what you're saying?

[NinjaTrader_Kyle]

Hello,

To clarify, orders placed with a Time in Force setting of GTC will remain in effect until filled or cancelled. Provided that you select the GTC setting before placing any orders it would not be a requirement that orders be placed again later on.

Orders which have already been placed with a TIF=Day setting will be cancelled at the end of the trading session. Since it is not possible to change the TIF of an existing order, these orders would need to be cancelled then placed again using the TIF=GTC setting.

I hope that this helps to clear things up however if other questions come up which I could assist with please let me know.

[inv97ia4xrs6]

Hi Kyle,

I tried cancelling two of our sell-stop-loss orders that had a TIF of Day, but after doing so, I could not find a way to create a new sell-stop-loss order with a TIF of GTC.

I even tried restarting NinjaTrader after cancelling the stop-loss, but still could not see how to do it.

I enter trades using the right-click menu on a chart and I also place my stop-orders the same way.

Please clarify how I can create a GTC sell-stop-loss order.

[NinjaTrader_Kyle]

Hello,

If you have an open position without an ATM strategy, and you wish to add a limit and stop order to protect the position please follow these steps:

Set strategy in the strategy selection drop down box to a value of
Right click in the SuperDOM or Chart Trader and enable OCO order placement by selecting the menu "OCO Order"
Then place a limit order where you want to exit at a profit
Then place a stop order where you want to exit at a loss
Then right click again and select the menu "OCO Order" to disable the OCO order placement
Now you have a target and a stop placed protecting your open position, and when one of these orders is filled the other will be canceled automatically.

[inv97ia4xrs6]

Hi Kyle,

Thanks for the info.

Is there any way to place GTC sell-stop-loss orders without setting a limit order profit target?

[NinjaTrader_Kyle]

Hello,

Selecting a Time in Force setting of GTC then setting the ATM Strategy drop down menu to '<None>' would allow you to place a GTC order without an ATM Strategy.

[inv97ia4xrs6]

Hi Kyle,

Where would I go to set the Time in Force to GTC? In the 'Orders' tab of the Control Center?

[NinjaTrader_Kyle]

Hello,

The TIF menu in the window where you are submitting the orders would need to be adjusted. Are you using the SuperDOM or Chart Trader? Once I know which window you are using to submit your orders I can provide an image example.

[inv97ia4xrs6]

Hi Kyle,

I always use Chart Trader to enter my trades and I always use the right-click menu options to place my Buy-Stop and Sell-Stop orders as well as to manually place stop-loss orders if I need to add them manually.

[NinjaTrader_Kyle]

Hello,

First, click the '...' button in Chart Trader which you will find next to the ATM Strategy label. The window which appears will include a TIF menu as shown in the attached image.

[inv97ia4xrs6]

Thanks Kyle,

I appreciate your help very much.