Limit offset-major problem

[beyondMP]

Ray had said, in the past, that the offset for a limit orders would be user selectable in the new release 6.5-7. I just took my 1st trade on NT7 and the offset for YM was 105 ticks.
I can't seem to find the place to adjust it.

[NinjaTrader_ChristopherJ]

Hello beyondMP,

Thank you for your post.

To adjust the Limit Price please go to the Orders tab of the Control Center-->Left mouse click within the Limit Price cell-->Input a new value-->Hit Enter.

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

[beyondMP]

That will work only after the order is submitted. Where can I change the default so that it occurs when I originally enter the order?

Quote from beyondMP:

I don't know how you can say this when the support guys at NT verified this is the way the ATM strategy works.

You might be thinking of when you enter an order using ATM, that order to enter will follow the offset you have set, but when they ATM strategy then fires off a stop limit order it will always have a 20 tick offset.
This can be verified by looking at the order window in the Control Center and you will see the stop and limit fields to be different by 20 ticks for the order ATM generates.

There is a property called "Use stop market for stop loss", if you set this to true, then a stop market is used except for GLOBEX where historically they did not support stop market orders. 20 tick was the widest spread between limit and stop price that we could use that was acceptable across all of our supported brokerage technologies without the order getting rejected. although GLOBEX now supports stop market orders some brokers may not recognize this and still reject stop market orders on globex thus we still have this exception in place. Our next major release we will remove this override for globex.


If you read the last sentence, you will see his response on 10/30/08

[syxforex]

Christopher, hi, I have a few question I hope you can answer for me.

As an NT7 user,

1. If I place a stop limit order and specify the max acceptable fill price away from stop trigger to, say, 8 ticks, will this instruction be followed or does NT7 automatically set the band on all stop limit orders to 20 ticks?

2. When I place an order on the super dom is this held with the broker? I had an account with X-Trader, briefly, in the past, and when I used the dom and put up an order it was held at the exchange directly. If my pc loses power or goes down will the broker still keep and execute any orders I had on the dom.

3. I think I know the answer to 2 already, but just to be sure. Now, as I am dealing with an NT7 broker rather than direct on the exchange through the firm I had been with, I don't want the broker to see my orders. I haven't started live trading with Ninja Trader and I've heard NT7 is not supported by Ninja Trader and has a lot of bugs. Does the simulated order type where orders are held on the users pc and not shown to the market work or is it a known problem areas that is likely to malfunction or cause a crash?

Thanks a lot

Hello beyondMP,

Thank you for your post.

To adjust the Limit Price please go to the Orders tab of the Control Center-->Left mouse click within the Limit Price cell-->Input a new value-->Hit Enter.

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

[NinjaTrader_RyanM1]

Hello Sysforex,

The 20 tick limit is submitted on all ATM strategy stop loss orders unless you modify this property to set as stop market orders. The stop loss orders are submitted as Stop/limit orders with a negative 20 limit offset. If you place a stop limit order manually then the limit offset will be whatever you set. You can set it each time you place an order or set a value to use all the time in the properties.

See here for where orders are held.

You can set simulated orders by right clicking in the dom and selecting Simulated Orders. This means they are held on your local computer, your internet connection, and your NinjaTrader installation.