Chase stop order

[Grignouf]

Hello,
Is it possible to enter a trade with a stop order wich chase the price to get the reversal ?
Ex : the price fall down and i want to buy a stop order 2ticks above the price to catch the reversal, in a slow market i can make manually but in a stop run with the FDAX i'm too slow.
Thanks

[NinjaTrader_Kyle]

Hello Grignouf,

Thank you for your post.

I'm not totally sure that I follow you - can you add some price information to your example so that I could better advise?

[Grignouf]

Ok, for example : i'm looking for the stop running in a level 6000 on the dax, the dax is on a up trend and the price is 6005 so i'm looking for a sell's stops running below the 6000. I want to enter a long trade when the stop running happened, the price come back to 5999.5 and touch the firsts sells stops so the dax go down hard and speedly to 5990 and just after go up to continue his up trend.
In a slow market or in a heavy dom like the ES or the FESX i can put a stop buy order above the price and follow it manuelly to get the reversal but with the FDAX or the CL they are too fast and i go in the trade at the low of the stop running + 5-15 ticks above so it's late.

So i want to know if i can make a chase order not with a limit order but with a buy stop order in this example.
Thanks

[NinjaTrader_Kyle]

Hi Grignouf,

Thanks for clarifying.

Yes, it is possible to apply auto-chase to any type of order, stop limit and stop market included.

[Grignouf]

Ok so i just need to select in adavanced options chase and the order will automaticly will be a chase's order limit or stop, depends if i click with the left or the middle button ?

[NinjaTrader_Kyle]

Hi Grignouf,

Yes, your understanding is correct.

[Grignouf]

There are 4 years i'm using ninja and i didn't know this,
Thanks you

[Grignouf]

Ok, i'm not be able to do this, i've select the chase order with 2 ticks and when i want to to place a buy stop order it isn't chasing the price going down, what i did wrong ?

[NinjaTrader_Kyle]

Hi Grignouf,

Your settings here look to be correct to me.

Could you please connect to the Simulated Data Feed connection and try placing the order again, then trend the market down? Any move of the last traded price should trigger a move in the same direction on the order you place.

[Grignouf]

Ok, it's ok working with a limit order but not with a stop order, i'm talking of a stop order to entry a position not a stop order to exit (just to be sure that we've understood each other).

Thanks

[Grignouf]

To be more precise, when i put a buy limit order below the price and the market move up the order follows and vice versa for a sell limit order, but when i put a buy stop order above th market and the market goes down the order doesn't move down.

Thanks

[NinjaTrader_Kyle]

Hi Grignouf,

Please send a note to Support [AT] NinjaTrader [DOT] com which includes 'ATTN: Kyle' in the subject line. In that message, please include a link to this forum thread and a copy of today's trace file.

You will find the file in the Documents > NinjaTrader 7 > Trace folder.
The file I'm after is named 'trace.20111026.txt'