Stupid Newbie Question

[Instamess]

I know this is something I should have known ages ago, but how do you set or change stop and target figures on an order after it's been placed?

[NinjaTrader_Lance]

There are a couple different ways to do this, so that I can give you the one that works best for you can you let me know which order entry window you're using? (SuperDOM, ChartTrader, etc)

[Instamess]

Thanks, Lance. It's SuperDOM.

[NinjaTrader_Lance]

In this case you will click on the number to the right/left and when you do a new mini window appears and allows you to set the new size.

for more details and a video on this see the third section here: http://www.ninjatrader.com/support/h...ing_orders.htm

[Instamess]

In this case you will click on the number to the right/left

That just asks me if I want to place a new order.

1.Click with your left mouse button in the center column on the Stop Loss or Profit Target order you want to modify.

Maybe I'm being thick, but in my SIM account, I left click in the centre column and nothing happens.

[NinjaTrader_Lance]

That just asks me if I want to place a new order.

sorry I was thinking you were wanting to change the size of existing orders and adding new orders is the way to do that. However if you're saying you have a target and want to split the size of it you can do this by right clicking the DOM in the center and clicking add Target: http://www.ninjatrader.com/support/h...ng_targets.htm

For more robust modification you'll want to turn on single click order modification. See the 4th section here: http://www.ninjatrader.com/support/h...ing_orders.htm

It will allow you to split your stops or targets.

[Instamess]

sorry I was thinking you were wanting to change the size of existing orders and adding new orders is the way to do that. However if you're saying you have a target and want to split the size of it you can do this

Sorry, that's still not what I was asking in my post.

how do you set or change stop and target figures on an order after it's been placed?

Let's take it apart. First, setting a target, I'll come to the rest later.

Let's say I've placed an order manually and haven't set a target for it. A few minutes later I decide to add a target. Your page says

Pressing down on the Left mouse button on the "+ TARGET" (to add) or "- TARGET" (to remove) buttons when "Show Quick Buttons" is set to True in the SuperDOM properties dialog window

I've set the Show Quick Buttons property to true. As per your page, now I simply have to click on the +TARGET to add a target, right? Wrong. That doesn't work. The +TARGET is greyed out and clicking on it does nothing. I thought maybe I need to click on the order price in the centre column first before clicking the +TARGET, but that doesn't work either as I get a pop up window saying something about me not having an "Active ATM Strategy"

[NinjaTrader_Lance]

Thank you for clarifying. You are correct the +Target button will not work unless you're using an ATM strategy.

If you want to add a Target you would need to place a Limit order by left clicking in the corresponding column

If you wanted to place a stop order you would need to press CTRL+Middle mouse click (or just middle mouse click depending on your settings in properties)

Next you need to decide if you want them to be OCO orders. For a video on this:

http://www.ninjatrader.com/support/movies/nt7/helpGuide/operations/orderEntry/superDOM/oneCancelsOther/One-Cancels-Other.htm

You can accomplish a breakout/breakdown approach by:

Right click in the SuperDOM and select the menu "OCO Order" to enable this function
For your first order, select the desired option from the "ATM Strategy" drop down list
Submit your stop order to buy above the market
For your second order, select the desired option from the "ATM Strategy" drop down list
Submit your stop order to sell below the market
CRITICAL Right click in the SuperDOM and select the menu "OCO Order" to disable this function

Let me know if I can further assist.

[Instamess]

Thanks for your reply.

If you wanted to place a stop order you would need to press CTRL+Middle mouse click (or just middle mouse click depending on your settings in properties).

So if I want to place a stop loss on an existing order the only way to do it is to create a new order - a stop order - at the point where I want my stop loss?

And the same thing in reverse to set a target on an existing open order?

Seems unnecessarily complicated to me

For your first order, select the desired option from the "ATM Strategy" drop down list

I don't have an ATM strategy. Why do I need to have an ATM strategy, whatever that is, just to achieve the basic functionality of setting a stop loss or a target?

I'll go and read up on your oco and other options and get back.

[NinjaTrader_Lance]

Yes if you have an open position with no exit orders you would have to place an order in order to be able to exit that position. If you want both a stop and a target you would need to link them using OCO functionality as described here in the OCO section: http://www.ninjatrader.com/support/h...x.html?sub.htm


An ATM strategy would allow you to automatically have a stop and target applied for you without you needing to manually submit them: http://www.ninjatrader.com/support/h...gement_atm.htm

Let me know if I can further assist.

[Instamess]

If you wanted to place a stop order you would need to press CTRL+Middle mouse click

I don't have a mouse and there's no middle mouse click feature on this laptop.

An ATM strategy would allow you to automatically have a stop and target applied for you without you needing to manually submit them

I get that. But I don't want it automated. I want to set stops and targets manually and be able to change them easily based on the price action.

Like I said, I think it's unnecessarily complicated in NT. In MetaTrader, for example, I can open an individual order and type in a stop and target. Same with other platforms like IGIndex's. No creating new orders and getting all muddled about which orders cancels which ones. I can see this being particularly dangerous when scaling in/out.

I like NinjaTrader and it has many advantages, but this order management isn't well thought out. IMO.

[NinjaTrader_Lance]

Like I said, I think it's unnecessarily complicated in NT. In MetaTrader, for example, I can open an individual order and type in a stop and target. Same with other platforms like IGIndex's. No creating new orders and getting all muddled about which orders cancels which ones. I can see this being particularly dangerous when scaling in/out.
.

An ATM strategy would allow you to do this. The stops and targets will not have to be automatically adjusted. You still can have total control over the orders.

Please see this video for examples: http://screencast.com/t/9HApspCOfQ

Let me know if I can further assist.

[koganam]

I don't have a mouse and there's no middle mouse click feature on this laptop.


I get that. But I don't want it automated. I want to set stops and targets manually and be able to change them easily based on the price action.

That is pretty easy to do in the DOM. You click on the DOM where you want to place your order. You need a mouse with a middle button in order to place stops. If you want to trade, then you need to get the correct equipment. Suitable mice cost as little as $10: less than 1 tick on the /ES.

Like I said, I think it's unnecessarily complicated in NT. In MetaTrader, for example, I can open an individual order and type in a stop and target. Same with other platforms like IGIndex's. No creating new orders and getting all muddled about which orders cancels which ones. I can see this being particularly dangerous when scaling in/out.

I like NinjaTrader and it has many advantages, but this order management isn't well thought out. IMO.

If you want to compare platforms, you need to compare like features. The feature you describe here of having an order sheet is available in NinjaTrader. It is called a Basic Entry.

I would suggest that some reading of the NinjaTrader manual would be a big help here. There are 4 different ways to enter orders manually in NinjaTrader, to suit different traders propensities. ref: http://www.ninjatrader.com/support/h...rder_entry.htm

Find the method that you want to use, and be on your way. Just to give you a start, I have shown you below what the Basic Entry window looks like. I believe it allows you to do what you described in the paragraph to which I am responding.

[Instamess]

koganam, I always find your posts most useful and helpful. Thanks.

You need a mouse with a middle button in order to place stops. If you want to trade, then you need to get the correct equipment. Suitable mice cost as little as $10: less than 1 tick on the /ES.

For reasons I won't go into, I have a box of about 15-20 brand new, top of the range Microsoft mice in my garage. When I'm at home or in the office, I have mice. When I am not at either of these locations I am loathe to carry a mouse around - and have it plugged into my laptop at all times even when it's balanced on my thighs in a train - just on the off chance I might need to place a stop order. I have friends who trade from their mobiles, it's not unreasonable to expect to trade from my laptop without lugging extra equipment around.

But your video provides the solution - I could use the basic entry which I hadn't come across before as I was looking only in the SuperDOM section of the NT manual (given NT's advice that all methods of entry did the same thing). Your video even finds a way around the mouse problem and shows how I can manage without a mouse. Thanks.

NT, for future versions please do away with that mouse middle button requirement. It's pre-historic.

[NinjaTrader_Lance]

Thanks for the feedback. I'll be sure to add to the request to be able to change the middle mouse button for you.