Placing an order when Stop is triggered

[tiffanychan887]

If I have long and price goes against me and stop out, I would like to place another long order right at the price I'm stop out. If I want to place the 2nd long order together with the 1st long order, what's the correct way of implementing this? Thanks. Tiffany.

[NinjaTrader_AdamP]

tiffany,

For this you would want to use the "Auto reverse" option. You can read more about it here : http://www.ninjatrader.com/support/h...to_reverse.htm

[tiffanychan887]

Placing an order when Stop is triggered

Dear Adam,
Just want to clarify. At first, I think Reverse at Stop means if the previous order is Long and is stop out, the system automatically enter a Short Order and expecting price to continue dropping when price drops to the Stop Limit of the previous order. Is this the case?
Thanks for your support.
Tiffany

[NinjaTrader_ChristopherJ]

That is correct. For example if you are Long 1 contract NinjaTrader will set a Order Qty of 2 contracts at your Stop Loss price automatically to then flip the position to a Short at the same time as being stopped out.

I have also provided a link below to our Help Guide that goes over the Advanced Options:

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

[tiffanychan887]

Placing an order when Stop is triggered

How about when Stop is triggered, I want to long instead of short? Thanks. Tiffany.

[NinjaTrader_ChristopherJ]

To clarify if you are Long and your Stop Loss gets triggered you would like to go Long again at that price?

If so you would manaully enter another Buy Entry Order at your Stop Loss price.