Limit Orders + Stop Loss

[thowefx]

Hi Support,

in Ninja Trader I want to place a Buy/Sell Limit Order + a Stop Loss at the same time. In another thread the support told, that you have to program the strategy on your own. Is this still the only option or are there custom ATM Strategy's out?

Thanks, Thowe

[NinjaTrader_Jason]

Hello Thowe,

ATM strategies will submit stop loss and profit target orders when your entry order fills. The profit target order is a limit order. Please see the link below for information regarding ATM strategies.

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

If you are already in a position, you can submit OCO orders manually. However you cannot submit these orders simultaneously. You will need to enable 'OCO Order' in the right click menu of the SuperDOM/ChartTrader first. Subsequently submit your stop loss (stop market or stop limit) and then your profit target (limit order).

Once submitted, please make sure you disable 'OCO Order' from the right click menu. If you do not do this, all subsequent orders will be submitted to the same OCO group, which can result in various issues.

[thowefx]

Hi There,

thanks for your reply, Actually I could find it out myself and I will explain it, because there should be some people how would be interested in it.

1. In the chart go to the price where you want to place Sell Limit/Buy Limit order, right click on mouse and look for "sell limit order" or "by limit order".
2. After you placed the limit order, go in the chart-trader and click on the button right to the Title "ATM Strategy" now you can edit your profit target and stop-loss options. After you did this, click OK.

Important: the profit target and stop-loss don't show up until price activated the limit order.

Hope that helps,

Thowe

[NinjaTrader_Jason]

Please note that you need to have an ATM strategy selected before you submit your entry order. If set to <None> and you submit your entry order, it will not submit ATM orders once your entry order fills.

Once your entry order is submitted with an ATM strategy attached, it will use those ATM settings. If you change the ATM parameters in ChartTrader after you submitted the entry order, it will not use these changed parameters, but the original ATM parameters.

[Columbcille]

Hello Thowe,

ATM strategies will submit stop loss and profit target orders when your entry order fills. The profit target order is a limit order. Please see the link below for information regarding ATM strategies.

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

If you are already in a position, you can submit OCO orders manually. However you cannot submit these orders simultaneously. You will need to enable 'OCO Order' in the right click menu of the SuperDOM/ChartTrader first. Subsequently submit your stop loss (stop market or stop limit) and then your profit target (limit order).

Once submitted, please make sure you disable 'OCO Order' from the right click menu. If you do not do this, all subsequent orders will be submitted to the same OCO group, which can result in various issues.

Can we ever get this fixed? I personally make each trade based on price action, so atn m strategies really aren't helpful as I have to make a new one with every trade... There needs to be a better way to set these limit orders... Maybe something so simple as tagging an entry limit order or something

[NinjaTrader_Brandon]

Hello Columbcille,
Thanks for your post.
You can save multiple ATM strategies and select which ATM you want to use when placing your trades. If this does not do what you are looking for, please clarify.

[Columbcille]

Hello Columbcille,
Thanks for your post.
You can save multiple ATM strategies and select which ATM you want to use when placing your trades. If this does not do what you are looking for, please clarify.

here ill give a quick example i made..... each R/R is where i would prefer to put limit orders ( as i make all my orders at the session open and leave them till the next day). in order to do this currently i have to make a new ATM for EVERY trade i make, its not very efficient.

It would be easier if we could mark our entry limit order, apart from S/L T/P

[Columbcille]

in the case of the second order, assuming it went low before my entry, i would have triggered my stop loss and been in a short trade in the opposite direction!

[koganam]

in the case of the second order, assuming it went low before my entry, i would have triggered my stop loss and been in a short trade in the opposite direction!

That is not the way that it works. Your stop loss is tied to the entry that was made. If there was no entry, then there will be no stop loss sitting there to be triggered. In other words, if you are using ATM, the only time there is a stop loss is if there is a position to exit.

Yes, you can use a stop entry, but that is a different situation, not related to a stop loss.

[Columbcille]

That is not the way that it works. Your stop loss is tied to the entry that was made. If there was no entry, then there will be no stop loss sitting there to be triggered. In other words, if you are using ATM, the only time there is a stop loss is if there is a position to exit.

Yes, you can use a stop entry, but that is a different situation, not related to a stop loss.

That is my point, I can't use ATM strategy without having to create a new one with each order, a bit impractical. And I can't make limit orders act as stop loss or take profit without already being in a trade which I cannot do as I'm not there

[koganam]

That is my point, I can't use ATM strategy without having to create a new one with each order, a bit impractical. And I can't make limit orders act as stop loss or take profit without already being in a trade which I cannot do as I'm not there

So what are you proposing then? If your strategy parameters change, you will need to change the parameters before you place the entry order. You do not need to create a new ATM; you can always use an existing one. Just change the parameters before you place the entry order. Heck, make a specific throwaway ATM that you use for no other purpose.

[Columbcille]

So what are you proposing then? If your strategy parameters change, you will need to change the parameters before you place the entry order. You do not need to create a new ATM; you can always use an existing one. Just change the parameters before you place the entry order. Heck, make a specific throwaway ATM that you use for no other purpose.

Proposition is why can't we simply mark one limit order as an entry order with S/L, T/P orders able to me placed in chart trader which are not to be fulfilled until the entry order made...

[koganam]

Proposition is why can't we simply mark one limit order as an entry order with S/L, T/P orders able to me placed in chart trader which are not to be fulfilled until the entry order made...

That is exactly how it works. I do not even understand anymore. You create an ATM with stop and/or profit orders. You place your order on the chart, and when and only after it is filled, the corresponding stop loss and profit target are placed. How do you want it to be different? The only order on the chart is your entry order. There is no stop loss order to be spuriously triggered.

[Columbcille]

That is exactly how it works. I do not even understand anymore. You create an ATM with stop and/or profit orders. You place your order on the chart, and when and only after it is filled, the corresponding stop loss and profit target are placed. How do you want it to be different? The only order on the chart is your entry order. There is no stop loss order to be spuriously triggered.

No I don't want to use ATM, that's too much hassle... I just want to place limit orders, marking one as an entry and the others unable to be fulfilled until it is... It's really simple,

Three limit orders, two won't be fulfilled until the one is

[koganam]

No I don't want to use ATM, that's too much hassle... I just want to place limit orders, marking one as an entry and the others unable to be fulfilled until it is... It's really simple,

Three limit orders, two won't be fulfilled until the one is

And how would you indicate to the program that some standing orders should not be filled? I cannot think of any platform that allows you to place conditional orders in that manner. Every one that I have met lets you place the protective orders on fill of the entry; not by having orders sitting out there with a condition to be filled only if some other order is filled first. No matter what it is called in any other platform, placing orders in that manner is in effect "Automatic Trade Management".

Then again, I have not used every platform extant, so I could very well be wrong.