Stop to enter a trade.

[TroyEarth]

Ok thanks Brett. I will see if I can find a way to do it anyways.

your efforts are highly appreciated
Troy

[NinjaTrader_Brett]

Hello,

Stop limit and Stop market would be the only type of stop orders you could submit via the DOM. Other then a SS stop order that I mentioned below you would gete filled as you described.

-Brett

[TroyEarth]

Not quite,

I think we are talking about two different things Koganam. Stop bid and stop offer is basic entry forms and can be found on all brokers platforms. deutsche bank, saxo and interactive all has it...

Example:

If I place stop limit order to buy at 1.3050 in EURUSD and market is trading 1.3010-1.30105. Market has to go through 1.3050 and come back down to my limit for the order to be filled. The problem here is sometimes market price go straith through 1.3050 and never comes back to hit my limit order and I dont get the trade.


If I place a stop bid to buy 1.3050 (as I want) and market still trade 1.3010-1.30105..if market prices move to my order level i will be filled at 1.3050 once the market price is quoting 1.3050 (Bid)-1.30505. this is it.. its simple..


Hope you will understand my request soon and koganam I think we are least likely to understand each other it seems, unfortunately....this should be a simple order entry...dont want to give up on using Super Dom as it is very nice tool...

Thanks for your help so far and hopefully we will finalize this stram of emails with happy ending.

[koganam]

Hi,

I found out that the suggestion with negativ offset was only valid for stop limit orders, so its not useful to me :-(.. I need to be able to use a stop order to to buy eurusd or any other currency cross on the bid, when the market is below my order price. and vice verse for selling.. their should be a simple way to do this I hope, at the moment I am quite confused about the different suggestion I have been getting :-(..
I need to be able to use this on SUPER DOM, so that it makes my trading a bit easier..

Thanks in advance,
Erdal

So are you now saying that you want to use a StopMarket as a resting order to buy, and you will place the order when the market is below your price?

Then you need to understand how orders work. If you place ANY kind of market order, it WILL be filled at the ask, when the order is placed. If you want to be filled at a specific price, your ONLY choice is a Limit order.

To say that you want a market order to be filled on the bid is not going to happen, no matter how much we wish it (I would like it too if I could use a market order placed at the bid to buy at the bid ). That is just the way the market is designed to work. We must work within the constraints of the ordering system.

The closest thing to buying on the bid after the market rises to meet it, is to place a StopLimit buy with a zero offset. Just remember that as it is a Limit order, if the market moves really, really fast through it, the order may very well not get filled, even though it will certainly get placed.

[NinjaTrader_Brett]

Hello,

What is the reason why you would not want to use a stop limit order? This should do what you want correct?

Submitting orders:

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

-Brett

[TroyEarth]

Hi,

I found out that the suggestion with negativ offset was only valid for stop limit orders, so its not useful to me :-(.. I need to be able to use a stop order to to buy eurusd or any other currency cross on the bid, when the market is below my order price. and vice verse for selling.. their should be a simple way to do this I hope, at the moment I am quite confused about the different suggestion I have been getting :-(..
I need to be able to use this on SUPER DOM, so that it makes my trading a bit easier..

Thanks in advance,
Erdal

[koganam]

I do not have any problems seeing the bid and offer, I have plenty of quote screens for this purpose. If I read the bid price and place a buy order based on this, I get filled on the offer on the DOM and this is the issue :-(....anyways I think the best suggestion so far was to Change my middle mouse to "StopMarket = false", then use a negative offset equal to the value of the bid/ask spread.

Thanks to your all for your efforts much appreciated.

Troy

Are you sure that you are using Limit orders? A buy order at the bid is below the market, so if you are using a Limit order, should NEVER be filled at the offer. A Limit order should fill you at the price you specified or better. OTOH, if you use a Market Order you WILL be filled at the offer as at the time that your order reaches the quote machine, if the then price is at or higher than your order price.

[TroyEarth]

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.

I do not have any problems seeing the bid and offer, I have plenty of quote screens for this purpose. If I read the bid price and place a buy order based on this, I get filled on the offer on the DOM and this is the issue :-(....anyways I think the best suggestion so far was to Change my middle mouse to "StopMarket = false", then use a negative offset equal to the value of the bid/ask spread.

Thanks to your all for your efforts much appreciated.

Troy

[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.

[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

[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]

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

[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.

[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]

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.