Stop to enter a trade.

[TroyEarth]

Hi,

I jumped on the live ninjatrader yesterday in order to use Super DOM breakeven and trailing stop strategies in my trading. However I have had a few challenges. I normally use stop bid and offer to enter trades and not stop limit, what order type do I need to use in order for my trades to be filled as a stop bid and stop offer please?


Thanks in advance,
Troy

[NinjaTrader_Bertrand]

Troy, you can set this up in your SuperDOM properties (just a right click on DOM to access those), there's a setting called 'Middle Mouse button is stop market' - in your case you want that to be set to 'true'.

Then on a middle mouse click you can place StopMarket orders on your SuperDOM.

[TroyEarth]

Great thanks Bertrand.

[TroyEarth]

One more thing. It seems it is placing stop offer to buy and stop bid to sell. How can i change this so that it is stop bid to buy and stop offer to sell?


Thanks in advance,
Troy

[NinjaTrader_Bertrand]

One more thing. It seems it is placing stop offer to buy and stop bid to sell. How can i change this so that it is stop bid to buy and stop offer to sell?


Thanks in advance,
Troy

Yes, that would be expected for StopMarket orders, they would be triggered by the Ask for a buy and vice versa for a sell.

Could it be you were trading with negative stop limit orders before? So the as the stop activates the order you join the bid or example?

[TroyEarth]

I click on the middle button and place the stop order. I have changed the setting for middle mouse button to "Stop Market" = True. Not sure how to check whether I was trading with negativ stop limit or how to change it so that I buy stop bid and sell stop offer...


Troy

[TroyEarth]

Hi,

Its probably a simle thing but please let me know how.


Thanks,
Troy

[NinjaTrader_Bertrand]

Troy, a StopMarket order would be filled at the next available price after the trigger activated it, so you must have been using a combination of simulated negative StopLimit order here to place the stop order and then be filled at an improved price at the bid (on longs) -

http://www.ninjatrader.com/support/movies/nt7/helpGuide/operations/orderEntry/superDOM/simulatedStop/Simulated-Stop.htm

[koganam]

I click on the middle button and place the stop order. I have changed the setting for middle mouse button to "Stop Market" = True. Not sure how to check whether I was trading with negativ stop limit or how to change it so that I buy stop bid and sell stop offer...


Troy

You need to know what the bid/ask spread is for what you are trading. For almost all futures, this is one tick.

Change your middle mouse to "StopMarket = false", then use a negative offset equal to the value of the bid/ask spread for your orders.

[TroyEarth]

Is there any other way to do this please. The whole idear of using stop bid to buy and stop offer to sell for me is in order to avoid being filled, if the spread becomes to wide for some reason...example normal spread is 1.3012-1.30125 in eurusd (half a pip), if I place a stop bid order to buy at 1.3020 and the market becomes volitile for some reason and interactive widen the spread so that it becomes 1.30205-1.30185 and I define the spread as 0,00005 pip then I will be filles at 1.30205. the problem for me here is that the break of a certain level never really happened and it will be a false signal to enter this trade...


Thanks in advance,
Troy

[koganam]

Is there any other way to do this please. The whole idear of using stop bid to buy and stop offer to sell for me is in order to avoid being filled, if the spread becomes to wide for some reason...example normal spread is 1.3012-1.30125 in eurusd (half a pip), if I place a stop bid order to buy at 1.3020 and the market becomes volitile for some reason and interactive widen the spread so that it becomes 1.30205-1.30185 and I define the spread as 0,00005 pip then I will be filles at 1.30205. the problem for me here is that the break of a certain level never really happened and it will be a false signal to enter this trade...


Thanks in advance,
Troy

You can always load your instrument into the MarketAnalyzer, where you can see the bid and ask price and place your trades accordingly.

[NinjaTrader_Brett]

You may want to look into using a SS or simulated stop order. This way you could hide the order on your side until NT detects trading at that level where it will then submit the order to be filled. However this would make you get a worse fill price most likely.,

http://www.ninjatrader.com/support/helpGuides/nt7/simulated_stop_orders.htm

[TroyEarth]

You can always load your instrument into the MarketAnalyzer, where you can see the bid and ask price and place your trades accordingly.

So how do I place a simple stop bid to buy at 1.3050 on MarketAnalyzer, and how do I also activate my super DOM strategy from here please?

[NinjaTrader_Brett]

The market analyzer cannot be traded from. You would mose likely want to use the FX Pro window for order entry this will show the bid and ask price.

Bid and ask distance is usually too great for the superDOM.

-Brett

[koganam]

You can always load your instrument into the MarketAnalyzer, where you can see the bid and ask price and place your trades accordingly.

So how do I place a simple stop bid to buy at 1.3050 on MarketAnalyzer, and how do I also activate my super DOM strategy from here please?

You cannot trade from the Market Analyzer, but you can see the bid and ask prices. You use the prices you see to trade on the DOM.

Read the bid price from the Market Analyzer; place the buy at the bid on the DOM: read the ask price from the Market analyzer; place the sell at the ask on the DOM.