StopLoss Big Spread

[kyamato]

Hi, Hoping the community can help me out.

If I have a Stoploss of 10 cents and enter a position Long. But the spread between Bid/ASK is 20 cents will I be stopped out right away?

What does NT use for StopLoss parameters? Is it PNL? Bid or Ask being hit?

Is there a way to create a setting (either through coding or ATM) where the Stoploss of say a Long will just be 10 cents behind the the entry at the ASK?

[NinjaTrader_ChrisSch]

Hello kyamato,

Thank you for your note.

A buy limit order would be expected to execute at the ask price. A sell limit order executes at the bid price. This would apply for your stop loss orders.

There may be a way to set this specifically using custom programming in NinjaScript, if you would like I can have a member of our scripting support team reach out for further assistance.

For more on ATM Strategies, please see our Help Guide section on Advanced Trade Management: https://ninjatrader.com/support/help...gement_atm.htm

Let us know if further questions come up.

[kyamato]

If I buy something with a MKT order then what happens to my StopLoss . Is it triggered when the price hits the Bid or the Ask?

[NinjaTrader_RyanS]

Buy market orders would be filled immediately at the best possible price in the market at that time. Buy stop orders would be triggered when the ask reaches your stop price, and sell stop orders when the bid price hits your stop price.

[kyamato]

Yes but my question refers to the stoploss not the entrance. How does the ATM calculuate the stoploss? Does it look when the 10 cent sotploss is at the bid or the ask? If there is a massive spread will it trigger automaitly

[NinjaTrader_RyanS]

The ATM places the order the set amount of ticks away from the avg. entry price of the order. If the stop price the ATM placed the order at is on the wrong side of the bid/ask spread the order would be rejected at the exchange. For further information on how orders work at the exchange, you may want to contact your broker's orders desk.

[jeronymite]

kyamato When submitting any orders (including via SetStopLoss, SetTrailStop, etc), it is always wise to check the relevant current price (Ask or Bid) to ensure the order you are submitting is on the "right" side of the current price. That will help to avoid rejected orders.