Limit orders not conforming to IB's minimum increments

[Harry]

I have tested trading FOREX through Interactive Brokers today for the first time.

When using the chart trader to place a limit order (right clicking into the chart), NinjaTrader will mostly convert the chart pixel to a limit price, which is not accepted by Interactive Brokers.

The reason here is that NinjaTrader generates limit orders with a granularity of 1/10th pip, whereas Interactive Brokers only accepts limit orders with a half pip granularity. The half pip setting, which was available for NinjaTrader 7 to adjust NinjaTrader to the increments allowed by the broker has been removed for NinjaTrader 8.

Therefore I am getting an error message for all limit orders that do not accidentally match with half pips or full pips and which reads:

"IB.Adapter.OnError: id=10241 errorCode='PriceVariation' errorMessage='The price does not conform to the minimum price variation for this contract.'"

The orders are being rejected.

Why was the option to select half pips removed?

How may I use the chart trader to trade FOREX via IB without having my orders being rejected all the time?

[NinjaTrader_PatrickH]

Hello Harry,

Thank you for your post.

This is not expected behavior. NinjaTrader 8 displays the quotes as received without the need for the 'Quote Currencies (FX) in' option which is why it was removed.

Are the quotes you are seeing in NinjaTrader 8 matching those in TWS?

I look forward to your response.

[Harry]

Hello Patrick,

My question was not about quotes received.

When you open a FOREX chart and activate the chart trader, you may enter a buy limit order by clicking into the chart via the right mouse button below the current price.

The price selected via the mouse is converted by NinjaTrader to a limit price, which may then be selected to execute a limit buy order. However, Interactive Brokers does not accept the odd prices created by NinjaTrader and the limit buy order will be rejected.

Or otherwise put: If you have the chart trader open and EURUSD trades at 1.2310, how would you enter a limit buy order at 1.2305? When I click the chart, I am likely to hit 1.23049 or 1.23048 or 1.23052 - and all these limit buy orders will be rejected by Interactive Brokers.

With NinjaTrader 7 you could easily use the chart trader to enter limit buy orders for FOREX. With NinjaTrader 8 this is no longer possible.

[NinjaTrader_AlanS]

Hello Harry,

Thanks for your reply.

You will need to change a setting in TWS to allow forex trading in tenth pips.

In TWS:

• Go to File --> Global Configuration.
• Then, go to Display --> Ticker Row.
• Then, enable 'Allow Forex trading in 1/10 pips and press OK

I've attached an image to this post for further clarification if needed.

Please let me know if I may be of any further assistance.

[Harry]

Patrick,

Thank you for your answer. With the reconfiguration of TWS it works like a charm!

I have a last question regarding the charttrader.

When I open the chart trader, the preset order quantity is 10k. This is not a normal lot size, but too small. Execution price will be bad, because it will not be routed to the IDEALPRO network. How would I change the default size to 100K?

I have selected a FOREX lot size of 100K when configuring the connection to Interactive Brokers, but this is not being applied here. Do I need to make a selection elsewhere to change the default size to 100k?

[NinjaTrader_AlanS]

Hello Harry,

Thanks for your reply.

You can edit the simulation account to change the default forex lot size.

Go to your Control Center window --> Select the Accounts tab --> right click on the Sim101 account --> select Edit account --> change the forex lot size to 100,000.

Please let me know if I may be of any further assistance.

[Harry]

Hello Alan,

Thank you for that information.

I am glad that I asked.

Editing my Interactive Brokers account in the Control Center and changing the lot size fixed it.

By the way, what is the FOREX lot size good when configuring the connection? I had already preset that size to 100K, but it had no impact on the default size.

[NinjaTrader_PatrickG]

The Interactive Brokers connection property of 'Forex lot size' is not behaving as we expect it to currently.

It seems that it may no longer be needed/valid. We are looking into this further and considering removing this property.

[pstrusi]

Hello Harry,

Thanks for your reply.

You will need to change a setting in TWS to allow forex trading in tenth pips.

In TWS:

• Go to File --> Global Configuration.
• Then, go to Display --> Ticker Row.
• Then, enable 'Allow Forex trading in 1/10 pips and press OK

I've attached an image to this post for further clarification if needed.

Please let me know if I may be of any further assistance.

Finally, a definitive answer to solve an old problem in NT8
Thanks Harry!

[NinjaTrader_AlanS]

Hello Harry,

As an update to your inquiry here:

By the way, what is the FOREX lot size good when configuring the connection? I had already preset that size to 100K, but it had no impact on the default size.
03-08-2018 06:12 PM

This property has been removed in the most recent release of NinjaTrader, you can verify this in our release notes here (take a look at the second item Issue # 12594):
https://ninjatrader.com/support/help...s/8_0_13_1.htm

Please let me know if I may be of any further assistance.