Buy-to-cover stop market order below current price

[butt_toast]

When I print out the current high and low, as well as the location of my current stop, everything looks good.

I know my code isn't very efficient, I'm in the process of creating a boilerplate template and I'm very much in the trial-and-error stage.

Here's the code snippet from this attempt to modify the stop, let me know if I should paste more code.

I must be doing something wrong, one of the errors it throws tells me I'm trying to put the stop below the market but according to my printouts that's not the case.

Code:

//TRAIL SHORT
if ((Highs[1][0]+stopBufferTicks*TickSize) < origStopPriceShorts && moveStopBool && okToTrailShort)
{
Print(Times[1][0]);
Print("Current Stop: " + currStopPrice + " New stop : " + (Highs[1][0]+stopBufferTicks*TickSize) + " Original stop location: " + origStopPriceShorts);
Print("Current High: " + Highs[1][0]);
Print("Current Low: " + Lows[1][0]);
if (entryOrderShort != null && (currStopPrice > (Highs[1][0]+stopBufferTicks*TickSize)))
{
ExitShortStopMarket(1, true, Position.Quantity, newStopPriceShorts,"short exit","short entry");
}
}

[butt_toast]

Let me know if I should share more code. I'm a trader learning programming so I'm not familiar with the etiquette. Recently I included too much code when asking for help, so this is an attempt to keep it short and to the point.

[NinjaTrader_Jesse]

Hello butt_toast,

The current high and low would not matter for submitting a change, you would need to make sure the price is valid and on the correct side of the market based on the ask/bid and type of order being used. If you are seeing that your calculation for the price is placing the order incorrectly you may need to increase the offset you are using to trail further away from the fast moving market.

As a side note the chart trader and its Right click on the chart menu is helpful for determining which side of the market a given order type should go on, it will hide order types which cannot be placed at the given location.

Please let me know if I may be of additional assistance.

[butt_toast]

Hello butt_toast,

The current high and low would not matter for submitting a change, you would need to make sure the price is valid and on the correct side of the market based on the ask/bid and type of order being used. If you are seeing that your calculation for the price is placing the order incorrectly you may need to increase the offset you are using to trail further away from the fast moving market.

As a side note the chart trader and its Right click on the chart menu is helpful for determining which side of the market a given order type should go on, it will hide order types which cannot be placed at the given location.

Please let me know if I may be of additional assistance.

Thanks for replying.

The high is relevant because it shows that the buy to cover stop market is being placed above the current high of the current bar by a significant amount that is totally valid. I know that this is valid because I've done it thousands of times in the real market with real stops.

I'm definitely doing something wrong here because if the code was actually trying to place the order where it is telling me it wouldn't reject the order.

I've re-uploaded the errors and print out all in one image. You can see that the place "new stop" is where I'm trying to move my stop is 69.50. This is 10 ticks above the current high. Buy stops go above the market and this error seems to be telling me that I'm placing the buy stop below market.

I hope I've explained this clearly, please let me know if I haven't and I'll try again.

Edit:
I'm going to try to recreate this and print the actual bid/ask at the time of the error. Either the bid/ask is impossibly above the current high of the bar or the new stop price is below the bid/ask. Will have to refer to the language reference to figure out how to print out current bid/ask.

[butt_toast]

I printed the current spread (bid/ask) and also the place where I'm trying to move the new stop.

This is definitely a case of user error but I am just too new to ninjascript to figure out exactly what I'm doing wrong.

[NinjaTrader_Jesse]

Hello butt_toast,

The high is the price of the bar and may not be what the current market is trading at. If you are making a change or submitting an order you would need to make sure to calculate a valid price for the current market and not based on an arbitrary bar value such as a previous high or low. While you can use the high and low as part of the calculation you can also generate invalid prices using those prices.

The error you are seeing is specific, you used an invalid price for that order and need to make adjustments to your logic.

You could try printing the ask/bid based on the direction or change the calculation to have a further away offset from the active market.


Please let me know if I may be of additional assistance.

[butt_toast]

I figured it out.

The value I was using to print the new stop price was calculating the new stop price manually whereas the value to actually place the new stop was a variable that was equal to zero. I fixed this and now it works.

I do have one quick question for you:

When I make a change to the code and compile it, do I need to remove the strategy from the chart and re-apply it every single time? That's what I've been doing and I wanted to ask if this is truly necessary.

[NinjaTrader_Jesse]

Hello butt_toast,

That depends on the change. Its good practice to just remove and re add scripts when developing them. Generally only changes to OnBarUpdate can have F5 reload work.


Please let me know if I may be of additional assistance.

[ossamaelouadih]

Hello butt_toast

I have the same problem i Would like to know how you solved it ??