ALSO, could you please let me know whether Chart Trader can be modified by users with Ninja Script, or is it in C# native? Thanks.
Announcement
Collapse
No announcement yet.
Partner 728x90
Collapse
NinjaTrader
Wrong (??) info in Help Guide - Order options for Chart Trader
Collapse
X
-
Wrong (??) info in Help Guide - Order options for Chart Trader
I was surprised to read the following sentence in the help guide at Operations > Order Entry > Chart Trader > Order Options. "in the image above, Buy Limit is not an option, since the right mouse button was clicked above the market price, and Buy Limit orders cannot be placed above the market price." I have been doing exactly that for years using the DOM. If I click in the Buy column above the bid (which is the same as clicking on the chart above the price), I will be instantly filled at the offer price, and if my order quantity is larger than the available quantity at the offer, it will continue to fill me at the new (one tick higher) offer till my order is complete. IF my order is not completed by the time the price has increased to the price at which I clicked, the remaining quantity will be entered as a limit order at the price I clicked. I am not aware of ANY brokers who will decline that order or treat it any differently. I haven't been able to use Chart Trader because of this incorrect functionality and was checking the function to see how I can have chart trader re-written. While I agree that Chart Trader can't currently place Limit orders above the current price, could a Ninja Staff member confirm if you feel that I REALLY shouldn't be able to do this, or if my interpretation of what is happening when I place my limit orders in the DOM is wrong?
ALSO, could you please let me know whether Chart Trader can be modified by users with Ninja Script, or is it in C# native? Thanks.Tags: None
-
Hello Woomera,
Thank you for the post.
I believe in this case your expectation of the two tools being identical is the roadblock, these are not the same order entry tool.
The superdom is for quick order entry where the chart trader is dynamic based on where the cursor position is. These two tools are not intended to work the same in that sense.
The chart trader is smart enough to know that is an invalid order placement for the order type you want to use and hides that from the right click menu, that is what the note in the help guide is for. The superdom has other logic in place for that situation as it is a simple point and click system.
If you are trying to place a limit order on the wrong side of the market from the chart trader you could instead just submit a market order in that direction to enter the position immediately.
If you want to create a button in the chart trader that does some other action you could certainly do that with NinjaScript, you can find more about that in the following post: https://ninjatrader.com/support/foru...27&postcount=1
Please let me know if i may be of additional assistance.JesseNinjaTrader Customer Service
Comment
-
Hi Jesse, Thanks for responding. The main issue here is your comment "chart trader is smart enough to know that is an invalid order placement for the order type you want to use". My point is that it ISN'T invalid! Back in the 'old' days when we had to call our broker (yes I'm that old) we gave an order to buy a @20.00 stock at "up to $20.20 Limit" and he would start working the order at the best price he could as long as all transactions were below the limit price of $20.20. I have since then, used a lot of DOMs and many brokers, and I've been able to order the same way with ALL brokers and trading systems except Ninja Trader's Chart Trader. Yes, Ninja is the only one without this functionality. I can currently do this with Tradestation and their Chart Trader indicator. I can do it in your SuperDom, so your comment that "The superdom has other logic in place for that situation" is not correct, or at least doesn't work the way you think it should. See the example I used in the original post. Please go and try it for yourself. It works. Your comment "The superdom is for quick order entry where the chart trader is dynamic based on where the cursor position is." I'd like to point out the obvious that they both depend on where the cursor position is, and both should work with one click ordering. Other platforms have them working in the way I'm describing.
Your comment "you could instead just submit a market order in that direction" would also not give me the desired result. Your action would result in an immediate fill at whatever the current price was even if it was way above my desired maximum entry price because of a sudden surge. These days there are sudden surges in the market. Some people with market orders get very bad fills. I trade in a way to control my possible slippage, and yet still get the better price if in fact, price hasn't moved yet. Sometimes that results in missing getting into a position because price moved above my maximum limit before I had a chance to enter the order. That's why I use this method. This entry method can't be done quickly enough with a button as we need to set the limit price which clicking the price on the chart achieves at the same time as placing the order with one click.
I can continue to use Tradestation to get this done if I have to, but I was hoping Ninja would be at least equal to tradestation which it could easily be with a simple change in your entry logic and allowing us to execute an order when we click on the chart.
Comment
-
Just as a follow up for anyone reading this post, I found a programmer who was able to make chart trader work like I believe it should, so of course Ninja Trader staff could also do so pretty easily "if they wanted to". It's a pity they don't care enough.
Comment
Latest Posts
Collapse
Topics | Statistics | Last Post | ||
---|---|---|---|---|
Started by pickles1774, 02-28-2024, 12:34 PM
|
2 responses
33 views
0 likes
|
Last Post
by pickles1774
Today, 05:25 AM
|
||
Started by Allwest, Yesterday, 10:25 PM
|
2 responses
21 views
0 likes
|
Last Post Today, 04:18 AM | ||
Started by bmandonlidal, Today, 03:34 AM
|
0 responses
1 view
0 likes
|
Last Post
by bmandonlidal
Today, 03:34 AM
|
||
Started by LincolnOrtiz, Today, 03:10 AM
|
0 responses
2 views
0 likes
|
Last Post
by LincolnOrtiz
Today, 03:10 AM
|
||
Started by Dr Kerry, Today, 02:03 AM
|
0 responses
4 views
0 likes
|
Last Post
by Dr Kerry
Today, 02:03 AM
|
Comment