Exits by Limit in all circumstances

[Rognvald]

I wish to discuss the order position for futures on Eurex (DTB) within IB.

Slightly unusually I wish to consider protecting my position by a limit exit order in all circumstances. There does not seem to be a way of setting this up automatically in NT.One can hit the price ladder manually to enter a protective limit order.

The "close" button produces a market order. The auto stop orders created all seem to result in market orders being placed when the stop is hit. I do not want to have a simulated order held on IB servers.

Is there a solution to my problem within NT please?

[NinjaTrader_Ray]

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I don't understand what using a "limit protective order" in all circumstances is? Pressing the "CLOSE" button can send limit order to close. If you have "Close using Market" unchecked in the Settings Manager, then NT modifies existing LIMIT to close.

[Rognvald]

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Just that I want to always exit with a limit and also set a limit as a stoploss order - nothing too subtle

[NinjaTrader_Ray]

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See my prior post, NT does this already. For stop loss, simply go to the Instrument Manager, under NinjaTrader Default Properties and uncheck "Use Stop Market for Stop Loss"

[Rognvald]

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Thanks - I'll do that

[trymph]

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Eurex servers do not accept stop/limit.........so either the firm or the front end would have to do synthetic (local) stop/limit orders in all cases........Pretty sure bout this info...

[Rognvald]

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trymph
Thanks - I know. Stop limit is an IB simulation on Eurex.
My experiments with NT (taking into account the information I have been given here has produced the following result for FDAX using these NT buttons:-

"CLOSE" = Market = Not for me

"PRICE LADDER" = Limit = OK (but I dont want to mess about with price levels on getting out - or remembering which side to click on*

"CLOSE" = Market = Nothing I can do

"STOP" = Stop limit = Simulated IB order (on Eurex) - ng to me

"BUY/SELL ASK" = Limit but I have to choose one of 6 buttons*

"BUY/SELL BID =Limit but have to choose from 6 buttons.*

What I would really like is the very simple ability to place a buy limit order at Ask or a sell limit order at Bid


*I'm quite likely to hit the wrong one at speed!

[trymph]

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What about just left clicking on the DOME ladder buy side(left) sell side(right) at the price shown as current bid or ask respectively?? I turned off the confirmation pop up for speed.........

[Rognvald]

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I'll try it