I have written a bracket order strategy for a client to place entry orders above and below current price on the brokers books x seconds before a news release x ticks above and below the market.
With NinjaTraders limitation on creating a buy limit and sell limit order at same time from a strategy I am using unmanaged order methods. To allow clients flexibility I create ATM stop entries for both sides of the market with a user selectable ATM strategy to manage the trade once taken.
The problem i am having is with Ninjas automatic creation of a StopLimit in place of my StopMarket stop loss order with a mandatory 20 tick limit price upon entry from one of my brackets.
There are countless pages of users complaining of this in the support forums dating back to 2009. Supports assertions that NinjaTrader places a hard coded 20 tick Limit behind my stop price for 'safety' reasons makes no sense (indeed, just the opposite occurs when after entry the next tradeable price is below the stoplimits limit price and Ninja kicks you out of the strategy with a 'Cannot enter a limit order below market' leaving an open order on the books and market in freefall) along with the statement that 20 tick jumps in price are a 'rarity' when in fact this occurs with regularity on news events (the exact condition I'm trying to trade).
I had hope after reading the support thread here but after following the instructions there my automated strategy derived ATM orders are still 20 tick stoplimit orders.
The fact that my manually placed ATM orders can enter a trade without the forcing of 'stoplimit as stoploss' leads me to think that there must be some compelling internal programming reason that stoplimit orders must to be used when calling from an automated strategy (else why not have given your users an option after 7 years of requests) . If this is so then at least expose the parameter to give us the option to increase this 20 ticks to a larger number.
Is there any hope on the horizon for a work around to this limitation or a future modification to these 'hard coded' limitations that only occur if the ATM is called from a strategy rather than a chart or DOM?
With NinjaTraders limitation on creating a buy limit and sell limit order at same time from a strategy I am using unmanaged order methods. To allow clients flexibility I create ATM stop entries for both sides of the market with a user selectable ATM strategy to manage the trade once taken.
The problem i am having is with Ninjas automatic creation of a StopLimit in place of my StopMarket stop loss order with a mandatory 20 tick limit price upon entry from one of my brackets.
There are countless pages of users complaining of this in the support forums dating back to 2009. Supports assertions that NinjaTrader places a hard coded 20 tick Limit behind my stop price for 'safety' reasons makes no sense (indeed, just the opposite occurs when after entry the next tradeable price is below the stoplimits limit price and Ninja kicks you out of the strategy with a 'Cannot enter a limit order below market' leaving an open order on the books and market in freefall) along with the statement that 20 tick jumps in price are a 'rarity' when in fact this occurs with regularity on news events (the exact condition I'm trying to trade).
I had hope after reading the support thread here but after following the instructions there my automated strategy derived ATM orders are still 20 tick stoplimit orders.
The fact that my manually placed ATM orders can enter a trade without the forcing of 'stoplimit as stoploss' leads me to think that there must be some compelling internal programming reason that stoplimit orders must to be used when calling from an automated strategy (else why not have given your users an option after 7 years of requests) . If this is so then at least expose the parameter to give us the option to increase this 20 ticks to a larger number.
Is there any hope on the horizon for a work around to this limitation or a future modification to these 'hard coded' limitations that only occur if the ATM is called from a strategy rather than a chart or DOM?
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