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ATM order getting cancelled

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    ATM order getting cancelled

    I am using NT8, trading futures, using chart trading and ATM orders. When I put a second ATM order on the chart with a position open, the second ATM order gets cancelled instead of filled when either the limit or stop is hit for the open position.

    For example.

    With price at 6862.00 I place a Sell Stop Market order on the chart for 6860.00. The price falls to 6860.00 and my order gets filled so I now have 1 contract open short, a Buy Limit order open at 6855.00 and a Buy Stop open at 6865.00

    Now I place a new Buy Stop Market order at a price above my open Buy Stop, let's say at 6870.00, so that if price moves against me and my short position gets closed, a new long position would get opened if price reverses.

    So, now price goes up, my Buy Stop price (6865.00) is hit and the sort position is closed as expected. However, when this happens my Buy Stop Market order that was opened at 6870.00 also gets cancelled.

    Why does that happen? Is there a way to make this not happen?

    Basically, I am trying to have a new ATM order in the queue, ready to be filled if price reverses when I have an open position which was opened using a previous ATM order, and I would like to do all of this using Chart Trading.

    Thanks!

    #2
    Hello ralett,

    This occurs due to the same OCO being used from the initial entry. Prior to submitting your second order please select the ATM Strategy template you want attached to your order from the ATM Strategy drop down menu then submit the additional order within your chart.
    Christopher J.NinjaTrader Customer Service

    Comment


      #3
      Let me make sure I understand:

      If I have an open a position that was initialed using ATM Strategy "X" with a stop and limit waiting to get filled, and I place a new order on the chart using the same ATM Strategy "X", the new order is attached to the previously placed order as an OCO? And the only way to prevent that from happening is to select the same ATM Strategy "X" from the drop down list before I place the new ATM order?

      Why would they be linked automatically? I guess I don't understand the logic of doing that.

      I'm trying to catch a reversal on fast moving price action and extra mouse clicks matter. Is there no other way of managing this other than having to select my ATM strategy again every time I am trying to catch a reversal?

      Seems like I should be able to select if I want existing orders and new orders tied together as OCO or not.

      Comment


        #4
        When you enter you initial position the active ATM Strategy is displayed in the ATM Strategy window which if another order is placed it will be combined with that active ATM Strategy template which would also use the same OCO identification number in this case which would cancel the order if the existing stop loss or profit target is executed or cancelled.

        With the default settings correct to prevent this you would select the same template from the ATM Strategy drop down before placing the new order.

        If you are using the same ATM Strategy and do not want to be required to select the ATM Strategy again prior to submitting your second order right click in the Chart Trader panel->Properties->Select "Keep selected ATM strategy template on order submission" from the ATM strategy selection mode drop down then click Ok.
        Christopher J.NinjaTrader Customer Service

        Comment


          #5
          Thanks Christopher. Excellent support!

          Comment

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