Stop order error with strategy builder

[Dan_B]

Hello. I am using the Strategy Builder to build a simple scalping strategy. In the strategy, I place a condition to go long/short with a stop order one tick above/below the close of the last bar if certain condition is met. However, I am getting the "Sell stop or sell stop limit orders can’t be placed above the market" error, which is quite annoying and forces me to replace the stop order with a market order, which drives the profits down dramatically as it increases the number of losing trades. Is there any way to work around it?

[NinjaTrader_Emily]

Hello Dan_B,


Thanks for your post.


CRITICAL — If your inquiry involves live orders, please always reach out to your broker's Orders Desk immediately to confirm and manage your live orders and positions.

If your trades are with NinjaTrader Brokerage, you can contact NinjaTrader Brokerage Order Desk here:

• Email: [email protected]

Typically we see that error message from stop orders that are placed very close to the market price, and if the price moves quickly then by the time the order is submitted and processing, the market price has already moved to the other side of the stop. You mentioned the stop order is set to one tick above or below the close of the last bar, so it sounds like the stop is very close to the currently traded price. One way to work around having to use market orders and to be able to use the desired stop order type would be to use wider stops. In this case, more than one tick above or below the close of the last bar. This may be considered as a sort of compromise; to be able to use the desired order type, you would need to use a wider stop rather than the 1 tick stop. The price of the orders could be manually adjusted within the platform after the order is placed.

Just for additional information/insight while building your own strategy, if this type of rejection occurs for a stop loss or profit target order with the ATM strategy functions that are programmed into the platform by default, then all stop loss and profit targets for the strategy are canceled. This is mentioned in the help guide here:

https://ninjatrader.com/support/helpGuides/nt8/index.html?faq.htm#WhatHappensAsOneOfMyAtmOrdersAreRejected

I hope this information is helpful in addressing your concerns. Please let me know if I may be of further assistance.

[Dan_B]

Hello Emily, thank you for your response. I've tried up to 4 ticks offset with respect to the last close and still gives me error...that kind of ruins the whole point of using a stop order close to the closing price. I might as well stick with the market order instead. Thank you.