Stop Limit with Price Improvement

[daven]

Is it possible to configure a market entry which has a stop which triggers at one price, and a limit, 3 or 4 ticks better? For example, assume you want to go long at a key resistance line, if it is broken. The key resistance is at 803, you want to trigger a stop limit entry at 803.50/802.50, (stop at 803.50, limit entry long at 802.50). I can't seem to figure out how to do this, and I'm wondering if it is a) possibe, or b) allowed by the exchange. I am trading the ES, so I guess that would be the CME?
DaveN

[NinjaTrader_RJ]

Is it possible to configure a market entry which has a stop which triggers at one price, and a limit, 3 or 4 ticks better? For example, assume you want to go long at a key resistance line, if it is broken. The key resistance is at 803, you want to trigger a stop limit entry at 803.50/802.50, (stop at 803.50, limit entry long at 802.50). I can't seem to figure out how to do this, and I'm wondering if it is a) possibe, or b) allowed by the exchange. I am trading the ES, so I guess that would be the CME?
DaveN

Hello Daven,

Thank you for your post.

Yes, use a stop-limit order, which is a middle-mouse click.

More information on submitting orders here: http://www.ninjatrader-support.com/H...ingOrders.html

[daven]

Not working

I watched the video and tried to duplicate what I saw, but I can't get it to work. Each time the stop is triggered I am filled at the stop price, not the limit price. I also don't see the little box with the limit offset indicated when the stop limit is set. I am using the middle mouse button to initiate the stop limit order. I'm attaching a screen shot of my DOM properties settings so you can see if I have something set incorrectly. Thanks for your help.
DaveN

[NinjaTrader_RJ]

I watched the video and tried to duplicate what I saw, but I can't get it to work. Each time the stop is triggered I am filled at the stop price, not the limit price. I also don't see the little box with the limit offset indicated when the stop limit is set. I am using the middle mouse button to initiate the stop limit order. I'm attaching a screen shot of my DOM properties settings so you can see if I have something set incorrectly. Thanks for your help.
DaveN

Can you please try Ctrl + Middle mouse click? This should enter the stop-market order. Does this work as expected?

Also check your mouse properties and make sure your middle mouse wheel is set up as a middle mouse button. Consult your mouse's help guide for instructions.

[daven]

Still not working.

I tried using the ctrl key when I clicked the middle mouse button, and I also verified that my mouse has the middle mouse button set to be the middle mouse button. I'm still getting a fill at the stop price instead of the limit price. I tried entering the number in the Stop Limit category as a negative number instead of a positive number but it had no effect. If I enter a stop/limit at a price, when the stop is hit I am filled at the stop price, not the better limit price.

[ctrlbrk]

I would like to get this working as well. I have tried stop limit and stop market, both of them fill me at the stop price.

What I want is this:

Current ES price is 810.00
I want to trigger a Buy Stop @ 807.00 that puts in an order to buy at 807.50, but only once the price hits 807.

My middle mouse button does not work in Ninja (never has). Logitech wireless. So I use chart trader for buy/sell stops.

Mike

[NinjaTrader_RJ]

I would like to get this working as well. I have tried stop limit and stop market, both of them fill me at the stop price.

What I want is this:

Current ES price is 810.00
I want to trigger a Buy Stop @ 807.00 that puts in an order to buy at 807.50, but only once the price hits 807.

My middle mouse button does not work in Ninja (never has). Logitech wireless. So I use chart trader for buy/sell stops.

Mike

Hi Mike,

Interesting... we use the logitech wireless at the office and they work as expected.

Are either of you able to test with another mouse to see if your middle mouse click works?

Also try updating your mouse drivers if possible.

[ctrlbrk]

I will look into it. Are you saying not possible to do with chart trader?

[NinjaTrader_RJ]

Yes, this is NOT possible with Chart trader, or the other order entry windows. This would be a stop triggers stop order, which is not supported.

[ctrlbrk]

I wanted to add, that I am on IB and maybe that is the problem? They don't support this perhaps?

The order instantly disappears from the DOM once I submit it if I use a positive value in the pop-up box when placing a buy stop. Log shows: Trigger price must be better than last price.

If I use a negative value, the order changes from SLM to LMT instantly even though the stop hasn't been met.

[NinjaTrader_RJ]

Ctrlbk,

If you are trying to accomplish this:
" Current ES price is 810.00
I want to trigger a Buy Stop @ 807.00 that puts in an order to buy at 807.50, but only once the price hits 807."

-It is not supported using order entry windows.... may be possible using custom NinjaScript.

-If you are trying another type of order, please give me the exact parameters so I can test. Your previouse example was a good format.

Thank you!

[ctrlbrk]

I had an error in my post my apologies.

Current ES price is 810.00. I am looking for shorts.
I want to trigger a Sell Stop @ 807.00 that puts in an order to sell limit at 807.50, but only once the price hits 807 (certain condition met on my side).

[NinjaTrader_RJ]

Ok, I understand.

So, you need to enter a stop-limit at 807 and put -2 in the limit box that pops up.

This will be a simulated order: http://www.ninjatrader-support.com/H...verview12.html

[ctrlbrk]

Thank you. Negative value is now working. Why would a positive value ever be desired?

[NinjaTrader_RJ]

Thank you. Negative value is now working. Why would a positive value ever be desired?

For the same strategy, but going long you would use positive 2.