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suggest about order

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    suggest about order

    Hallo, I have developing a strategy on emini E7 using NT tool. When strategy running in real time with "market order" (long or short) entry price are, often, very far from the correct entry price (about 3-4 tick).
    Can you give me some advice on the kind of best order to put in order to avoid very high price fluctuations? Using Limited Price (bid or ask) with 1 or 2 tick offset could be a solution? Thank you

    #2
    Hello DenisF,

    Thanks for opening the thread.

    Slippage is the shift in trade performance due to market fluctuations. You can choose to run a strategy that runs off of more granular data to get orders in faster, but the time in which the order gets submitted determines your order in line to get the order filled.Being quicker to get your order in could get you in line to fill your order with less slippage than if you were to delay your submission.

    Submitting market orders will guarantee a fill, but you may experience slippage. Limit orders will guarantee a price, but a volatile market may prevent this order from filling and may leave you in an open position.

    Below is a link to publicly available information on Slippage, Order Types, as well as our documentation on submitting orders.

    Slippage - http://www.investopedia.com/terms/s/slippage.asp

    Limit Orders - http://www.investopedia.com/terms/l/limitorder.asp

    Stop Limit Orders - http://www.investopedia.com/terms/s/stop-limitorder.asp

    Market Orders - http://www.investopedia.com/terms/m/marketorder.asp

    Submitting Orders - https://ninjatrader.com/support/helpGuides/nt7/sub.htm

    Please let me know if I may be of further assiatnce.
    JimNinjaTrader Customer Service

    Comment


      #3
      Thank you. I know problem about order and would found a best solution; for example, in NT wizard, I can use a limit order and in "limit price" parameters I can chose a "ask" with a "offset what they mean. For example, if a buy 1 [email protected] 1,1646 on E7 with limit price on "ask" with a offset of 2 ticks, range of fill is 1,1647 (ask) or 1,1649 (+ 2 tick offset)?
      Thank you
      D

      Comment


        #4
        Hello DenisF,

        Tick offsets will be added to the price used. You can click "View code" to see the resulting code, or you may observe this in the conditions or actions field of the Conditions and Actions tab.

        Code:
        EnterLongLimit(DefaultQuantity, GetCurrentAsk() + 3 * TickSize, "");
        https://ninjatrader.com/support/help...rlonglimit.htm

        As we can see the price used for the limit order is the current ask price plus 3 times the TickSize, or the current ask price plus three ticks. Since we are using the current ask + 3 ticks for the input price for the method, that is the price that will be used and not the Last price for example.

        If you have any further questions, please don't hesitate to ask.
        JimNinjaTrader Customer Service

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