My stop is rejected?

[nepenthean]

Mirus, Zen-fire

When I execute a trade I get the following message,

"Mirus, Order price is outside bands, 'Difference between stop and limit price is larger than banding value of 0.5 using Delta 1.00' affected order Sell StopLimit 146.90625 x 146.28125"


How do I correct this?

thanks

[NinjaTrader_Brandon]

Hello nepenthean,

Thanks for writing in.

So I may assist you further can I please verify what instrument you are trading?

[nepenthean]

ZB, 6/13

Thanks!

[NinjaTrader_Brandon]

Hello nepenthean,

Thanks for your reply.

The CME updates their instruments quarterly and recently modified the banding allowed on stop limit orders.

To resolve this with NinjaTrader you will need to adjust your ATM Strategies to use stop market orders.
You can do this by right clicking on your order entry window and selecting Properties
Scroll to the bottom and under Use Stop Market for Stop Loss Orders change it to True
Select Apply and OK

The reason for this is NinjaTrader has a set 20 tick offset on stop loss orders with ATM Strategies. This can not be modified and is greater than what is excepted on the ZB. Changing to stop market orders will allow the ATM Strategy to properly function.

Below I have provided a link to the CME Globex Product Reference Sheet.

http://www.cmegroup.com/confluence/display/EPICSANDBOX/GCC+Product+Reference+Sheet

[nepenthean]

Thanks Brandon for the prompt and well organized reply!!

[koganam]

Hello nepenthean,

Thanks for your reply.

The CME updates their instruments quarterly and recently modified the banding allowed on stop limit orders.

To resolve this with NinjaTrader you will need to adjust your ATM Strategies to use stop market orders.
You can do this by right clicking on your order entry window and selecting Properties
Scroll to the bottom and under Use Stop Market for Stop Loss Orders change it to True
Select Apply and OK

The reason for this is NinjaTrader has a set 20 tick offset on stop loss orders with ATM Strategies. This can not be modified and is greater than what is excepted on the ZB. Changing to stop market orders will allow the ATM Strategy to properly function.

Below I have provided a link to the CME Globex Product Reference Sheet.
http://www.cmegroup.com/confluence/d...eference+Sheet

Are you sure that you do not have that backward? I thought that StopLimit orders are specified as LimitPrice == StopPrice, effectively banding the order at 0 ticks, and that Mar****rders are essentially forced by NT placing a LimitOrder 20 ticks away?

In which event, he has to change from StopMarket orders to StopLimit orders, and if he still wants them to be almost market orders, to use a smaller positive offset to the LimitPrice relative to the StopPrice?

[NinjaTrader_Brandon]

Hello koganam,

Thanks for your post.

The settings will need to be changed to use Stop Market orders.

A Stop Market will fill you at whatever market price it can. There is no banding.
The Stop Limit of an ATM strategy has the built in 20 tick offset mentioned. When placing a Stop Limit order manually the offset can be modified however it can not with an ATM Strategy.
Stop Market would have to be used in an ATM strategy with this instrument.

[nepenthean]

I selected 'true' for use stop market for stop loss orders, but the error message persists.

[NinjaTrader_Brandon]

Hello nepenthean,

Thanks for your reply.

Please send today's log and trace files to support[at]ninjatrader[dot]com

You will find the log file on your PC in the (My) Documents > NinjaTrader 7 > Log folder.

The log file will be named "log.20130509.txt"
You will find the trace file on your PC in the (My) Documents > NinjaTrader 7 > Trace folder.

The trace file will be named "trace.20130509.txt"

Once located please send the files as attachments to your email.
In the message put ATTN Brandon and provide a link to this forum topic.

I look forward to assisting you further.

[nepenthean]

Ok. I sent the log file and a link.

Please help.

thanks guys.

[mlarocco]

Was there ever a resolution for this? I'm getting the same error on my strategy.

[NinjaTrader_Brandon]

Hello mlarocco,

Thanks for your post.

If you are using an automated strategy that uses an ATM Strategy, unfortunately you would not be able to adjust the settings to use stop market orders rather than stop limit orders. Development is taking this feature into consideration under the feature request ID# 1218.