Stop Limit Entry verse Exit

[Stok]

Quick question:

When I enter a trade, it will be a stop limit at one price. I.e. Buy ES stop 1200 limit 1200. But, I want to put a tick or two on my stop loss. Profit exit are limits, so that doesn't matter. Can I do that? I see you can put in chart properties a tick(s) offset for stop limit, but I don't want that on all my stop limit trades trades.

[NinjaTrader_Brandon]

Hello Stok,

Thanks for writing in.

When placing a Stop Limit Order, if you have a value entered in the Properties> Stop Limit Offset, any Stop Limit Order you place will have that value. To be able to enter your own value for each order you will want to set the Stop Limit Offset to False
.
With ATM Strategies however, the Stop Limit Order for the Stop Loss will always have a Stop Limit Offset value of 20. This is hard set in NinjaTrader and can not be changed.

[Stok]

So, my ATM is simple: I want to buy at a certain price above the market, but I don't want any offset. I have to put in a STPLMT for those trades. My stop loss order, I want to offset that a few ticks. So there is no way to differentiate the two within an ATM? If I turn that off, where can I set a value for my stop limit exit (loss)? I couldn't find that. TIA!

[NinjaTrader_Brandon]

Hello Stok,

Thanks for your reply.

When the Stop Limit Offset value is set to Off and you place a Stop Limit Order a numeric box will appear. This numeric box is so that you can enter the desired Stop Limit Offset.

The Stop Limit Offset for a Stop Loss order of an ATM Strategy can not be defined at all. It will always be a 20 tick offset to ensure your strategy functions.

[Stok]

Hello Stok,

Thanks for your reply.

When the Stop Limit Offset value is set to Off and you place a Stop Limit Order a numeric box will appear. This numeric box is so that you can enter the desired Stop Limit Offset.

The Stop Limit Offset for a Stop Loss order of an ATM Strategy can not be defined at all. It will always be a 20 tick offset to ensure your strategy functions.

Ok, so basically all stop limit orders for loss are a market order with a 20 tick limit?? If I coded my strategy in NS can I specify this? My exit orders are only a 2 tick limit....seems the 20 tick limit is more for protection for Ninja. Thanks for your help!

[NinjaTrader_Brandon]

Hello Stok,

Thanks for your reply.

Yes, you will be able define the offset when using a NinjaScript Strategy.
Below I have provided a link to the ExitShortStopLimit() section of our help guide as an example

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?exitshortstoplimit.htm