OTO order in NT6

[gkadokg]

In TOS I was able to set an OTO order which placed a Stop order and had it trigger a Buy Limit order 10 ticks above that stop order. My Buy order would have to be filled within that 10 tick buffer or it would be canceled. Is this at all possible in NT8. Does "Chase if touched" ATM work in this way at all? Or is there 3rd party code to accomplish this? When the market is moving too fast I'd rather not get filled at all instead of getting filled 50+ ticks from when I place an order.

[NinjaTrader_Jesse]

Hello gkadokg,

I wanted to clarify what you are trying to do here. Are you asking about reversing a position? Stop orders would only be able to be submitted if you are in a position, if the buy limit order is the entry you would have to wait for that order to fill before submitting the stop.

[gkadokg]

No I don't want to reverse a position, I just don't want to be filled by a Market Order if it slips to far away from my entry point. I know Limit orders are usually for reversals but I wanted a Stop to trigger the Limit Order that is within a set number of ticks in the direction of my entry point. So If I want to go Long, I can set a Stop 5 ticks above the current price and when price goes up and hits that Stop then it triggers a Buy Limit order that above that stop but offset by 10 ticks above the stop. The Buy Limit order should fill right away, unless the market is moving so fast that it slips past that 10 tick offset. At that point the order will not fill since it's past my 10 tick offset and the order is canceled. But I think I found a way to do this through the custom Hot Keys. I can set a Buy, then Buy Stop Limit, and set a tick offset for the Stop and the Limit order. It doesn't cancel the order if it goes past the Limit order tick offset but that's ok for now.

[NinjaTrader_Jesse]

Hello gkadokg,

Are you asking about using a stop limit type order? You can read about how that type of order works here: https://www.investopedia.com/terms/s...limitorder.asp

If so then you would just submit a stop limit order and define the prices you wanted to use for the stop and limit price. To cancel that you would have to manually do that if the order was manually submitted. It could be cancelled automatically if you created a strategy which submits the order.

[gkadokg]

Yes stop limit order. Sorry for the confusion. Thanks for your help.