Problem with manual close with forex

[PJtrades]

First, my apologies if this has been addressed before or if it should be in another section. I am new to Ninja and new to the forum and I tried to search for this problem but can't locate another instance of it.

I am trading EURUSD through PFG, using Ninja Trader and I have had great success using the platform and strategies. However, I have recently had an issue and I am trying to determine if it is a problem with the platform or the broker. The problem is that when I am in a position and I try to close it manually, by hitting the close button on the chart trader, it is filled 20 or more pips away from where the market is currently trading (not in my favor). From looking at the log, it seems that the order is placed as a limit order and the order is filled at the limit. I know that this sounds like an issue with the broker on the fill, but why would hitting the close button send a limit order instead of just a market order, as this is something that would be used only when someone wants to get out of the current position immediately.

This has also happened when I pushed the "reverse" button. In this case, it closed the open position at the market but opened the new position way above/below the market.

I am perplexed and while PFG is looking into this on their end, I would like to find out why the platform would be sending this type of order.

Thanks for any help.

PJ

[NinjaTrader_Ray]

Hi PJ,

For sure you best ask the broker why a limit order 20 pips outside the market is filled at the limit price and not the market.

As for why a limit order is used, please read the following Help Guide section which will clarify this question.

http://www.ninjatrader-support.com/HelpGuideV6/ClosingAPositionStrategy.html

[PJtrades]

Thanks for the quick reply! Here is what is says in the help guide which is the link you posted:

"The exception are currencies (FOREX) where all working orders are cancelled and then a market order is submitted to close the position."

This is how I understood this to be, that's why I didn't understand why a limit order was sent. In the NT log from one of the questionable trades is says "limit". I know that even a limit order should not get filled so far away and that is an issue I am taking up with PFG. I just want to be sure there isn't something wrong with my platform.

[NinjaTrader_Ray]

Those comments are old when we only supported GAIN FX which did not support limit orders outside of the inside market. We will update this in the DOC.

[PJtrades]

Wow, thanks. I thought I was losing my mind!