Sell order rejected?

[tedwards0118]

I'm new at this ....

(In Sim101 mode)
While running a strategy the sell stop limit was rejected with the following message;

"Sell stop or sell stop limit orders can't be placed above the market."

Stategy:
Sell Short stock XYZ
Enter (sell) 28.88
Stop 29.16
Target (limit) 28.42

The stock was trading between 28.90 and 28.98 when the order was rejected.

This same strategy worked well with a different stock.

[NinjaTrader_Matthew]

Hello,

Was this on a live account or the Sim101 account?

[tedwards0118]

Sim101 account

[NinjaTrader_Matthew]

Hello,

Thanks. There is a simulated delay between the time you place the order and when the order fills.

This message indicates that by the time the order reached the simulated exchange that price for the stop order was not valid.

You can control how this operates in the simulated account by going to Tools--> Options--> Simulator tab

You can change the Delay exchange (msec) to a lower value for faster fills, or you can select "Enforce Immediate fills" to ensure your orders are filled as soon as you submit them.

[tedwards0118]

I reduced the Delay Exchange to 50 ms and got the same Message today:

"Sell Stop or Sell Stop Limit orders can't be placed above the market affeted Order"

When this happens my Strategy also stops working.

I'm running in Sim101 mode trying to gain some confidence.... does this also happen in Live Trading?

[NinjaTrader_Matthew]

Hello,

This can still be generated depending on the bid/ask spread at this time.

Yes, this can also occur on a live account. If the order is not valid by the time it reaches the exchange, it will be rejected.

[avimop]

Hi,
Is there a way to handle such error and preventing it from disabling the strategy?
Thanks

[NinjaTrader_Matthew]

You can set the RealTimeErrorHandling to take no action:

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

But note that there can be adverse affects of setting this property if you have not programmed your own error handling.