Long-Short (2-sided) OCO order for Forex Pairs

[swimtrader]

Anyone know how to enter these algo-based orders? If so, could you make it idiot-proof (e.g. Screenshot)?

Buy EURUSD 1.3928 L1 1.3953 L2 1.3978 Stop 1.3878
Sell EURUSD 1.3865 L1 1.3840 L2 1.3815 Stop 1.3915

Buy GBPUSD 1.5934 L1 1.5959 L2 1.5984 Stop 1.5884
Sell GBPUSD 1.5875 L1 1.5850 L2 1.5825 Stop 1.5925

Buy AUDUSD 0.8842 L1 0.8867 L2 0.8892 Stop 0.8792
Sell AUDUSD 0.8769 L1 0.8744 L2 0.8719 Stop 0.8819

Buy USDCAD 1.0636 L1 1.0661 L2 1.0696 Stop 1.0586
Sell USDCAD 1.0596 L1 1.0571 L2 1.0546 Stop 1.0646

Buy EURJPY 126.6 L1 126.85 L2 127.10 Stop 126.10
Sell EURJPY 125.99 L1 125.74 L2 125.49 Stop 126.49

Buy GBPJPY 144.85 L1 145.10 L2 145.35 Stop 144.35
Sell GBPJPY 144.29 L1 144.04 L2 143.79 Stop 144.79

[NinjaTrader_Jason]

Hello swimtrader,

One of the great features of NinjaTrader is its ability to manage multiple virtual positions in the same market. This allows you to manage a long and short position in the same market simultaneously.

Here is how this is accomplished:

• Open 2 SuperDOMs and set them both to the same market
• Right click in one of the SuperDOMs and select the menu "Properties"
• Set the 'ATM Strategy selection mode' parameter to "DisplaySelectedAtmStrategyOnly"
• Repeat the last two instructions on the second SuperDOM
• Submit a buy order to open a long position in the first SuperDOM
• Submit a sell order to open a short position in the second SuperDOM

More information regarding the ATM strategy selection mode can be found at the link below.

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

Let me know what is not clear for you and I will provide screenshots.

[noevictorian]

Hello swimtrader,

One of the great features of NinjaTrader is...

Jason, I also would like to submit orders like this so your confidence in NT's ability to do this is encouraging. However, it is my understanding from experience that SuperDOM's can't handle tick sizes of .0001 so pretty much every forex pair is out.

And every example given in swimtrader's original post is a forex pair.

Does the process you're describing with 2 DOMs work with his forex examples?

[NinjaTrader_RyanO]

Hello noevictorian,

This is not necessarily true. The tick size of the instrument is going to be dependent on the instrument. If you go to Tools-->Instrument Manager and then hit edit you will notice that on any instrument is a tick size field that you can change, and the result will be displayed in the number of ticks.

Another property with FX is found by going to Tools-->Options-->Misc and set the Quote Currencies (Pip, HalfPip or TenthPip) and depending on the size you specified will determine to what extent the currencies are displayed in the DOM.

[noevictorian]

Hello noevictorian,If you go to Tools-->Instrument Manager and then hit edit...

Thanks, Ryan. That definitely got me the correct Tick Size showing up in the DOM but it raises another question for me.

A lot of the items in my Instrument Manager are showing up as "On the fly created stock." Is it that NinjaTrader's instrument manager isn't pre-loaded with very many instruments by default? On the fly would suggest that every time I enter a ticker into a chart window it adds itself to the Instrument manager as one of these "on the fly" items.

But the problem is two-fold: The on-the-fly items always have a tick size of .01 and in the case of the EUR/USD, that behavior resulted my previously stated error because the Instrument Manager had two EUR/USD's entered into it... one was properly set up by the program as a .0001 tick size and set to "currency." And the other a .01 tick size "on the fly" stock.

Is there a way to remove the "on the fly" functionality since it seems to create conflicts by creating incorrect duplicates of instruments that are already in my instrument list?

[NinjaTrader_RyanO]

noevictorian,

When typing in the chart and the instrument is not present an on the fly stock will be created.

This process is only applicable for stocks that are not in the database, and thus the tick size is by default .01.

If you wish to add instruments besides stocks you will need to do that from the Instrument Manager, and there you can define the correct tick size.

[noevictorian]

Let me know what is not clear for you and I will provide screenshots.

Jason, if you can provide screen shots I know I for one will take you up on that generous offer. I spent hours today trying to figure this out in NinjaTrader and I'm clearly missing the intuitive power of the SuperDOM.

I'm trying to submit an order like the one Swimtrader describes, where you have a buy order above the current trading price and a sell order below the current trading price that are OCO's of each other. Whichever one fills has an ATM strategy attached to it that has a profit target and a stop loss.

But right off the bat when I just try and click the buy column the orders are filling instantly. So I'm not getting to step 5 and 6 of the process even.

Any help would be appreciated. I've done this in FXCM Trading Station with no problem but they don't have a DOM... it's done through a special OCO order entry window.

[NinjaTrader_Jason]

Hello noevictorian,

You must be submitting buy limit orders above the current market price or sell limit orders below the market. These orders will fill right away at the market price, since this is the better price. You would need to submit a stop market or stop limit order in your case. Please see the link below for more information.

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

Let me know if the issue persists.