More accurate limit orders using alerts

[wbayne333]

I have alerts running that trigger orders. Right now they are being submitted as market orders but I'd like to submit limit orders instead since most all of market orders are filling 4-8 ticks away from where I'd like to get them filled. How can I accomplish this using my current alerts? Keep in mind I'm using alerts, not a strategy.
Thanks in advance.

[NinjaTrader_Zachary]

Hello wbayne333,

Thank you for your post.

To change the order type that your alert uses;

• Right-click on your chart background
• Select Alerts
• Choose the alert you'd like to alert from the 'Configured' section
• Scroll down to the 'Actions' section on the right-hand side
• Select your existing 'Submit an order' action and select 'edit'
• Under the 'Properties', change the 'Order type' to 'Limit'
• Input your 'Limit price'
• Select OK
• Select Apply and OK

Keep in mind that, unlike when using market orders, you must input a specific limit price within the alert configuration when using limit orders. Your alert will need to edited each time you want to place a limit order at a different price level. More information about using alerts may be found at the link below;

https://ninjatrader.com/support/helpGuides/nt8/using_alerts.htm

Please let us know if we may assist you any further.

[wbayne333]

I'm aware of that. I want the limit price to be executed automatically when the alert gets triggered. I don't want to "create" a limit value each time, I want it done automatically.

[NinjaTrader_Zachary]

Hello wbayne333,

Thank you for your reply.

That would not be possible with an alert. To achieve something like this, you'd need to create a strategy.

Please let us know if we may assist you any further.

[aks243]

Can we not have a way to place an order relative to ask/bid price. Placing a manual limit price on an automated trade does not make any sense.

[NinjaTrader_Zachary]

Hello aks243,

Thank you for your inquiry.

Alerts are not really intended to be automated trading systems. The things that are not possible with an alert are generally possible with custom NinjaScript programming and fully automated strategies. You may learn more about NinjaScript at the link below;

https://ninjatrader.com/support/helpGuides/nt8/ninjascript.htm