Chase and Chase Profit

[ratherBgolfing]

It would appear that when I place a strategy that uses Target Chase I often get an error message "Order 'jaj;lkjeoriu....' can not be changed. Status is Cancel Pending. Affected order Sell......"

NT then cancels the target order leaving the trade uncovered. Is this normal?

Also, when I place a strategy that uses Chase for the Entry with a Chase Limit of 10, if the order is not filled it just sits there indefinitely. Is this normal? Am I supposed to cancel this manually or can it be set to expire/cancel automatically?

I am using ATI so both of these conditions can causes serious problems/losses if not constantly monitored and cancelled manually....which defeats the purpose of ATI.

Thanks.

EDIT: It seems this is happening with trailed stops also. NT canceled my profit targets and my trailing stops; I now have 4 lots short, uncovered. (in Sim103 thankfully). In this case the market is no where near the trailing stops and NT is trying to trail the stops and just cancels them instead.

[NinjaTrader_Ray]

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ratherBgolfing wrote:

It would appear that when I place a strategy that uses Target Chase I often get an error message "Order 'jaj;lkjeoriu....' can not be changed. Status is Cancel Pending. Affected order Sell......"

It is normal if the order is being cancelled.

NT then cancels the target order leaving the trade uncovered. Is this normal?

Also, when I place a strategy that uses Chase for the Entry with a Chase Limit of 10, if the order is not filled it just sits there indefinitely. Is this normal? Am I supposed to cancel this manually or can it be set to expire/cancel automatically?

This is normal, you must cancel it manually.

I am using ATI so both of these conditions can causes serious problems/losses if not constantly monitored and cancelled manually....which defeats the purpose of ATI.

Thanks.

EDIT: It seems this is happening with trailed stops also. NT canceled my profit targets and my trailing stops; I now have 4 lots short, uncovered. (in Sim103 thankfully). In this case the market is no where near the trailing stops and NT is trying to trail the stops and just cancels them instead.

NT does not automatically cancel orders, something is triggering the cancel. Please check the log file to see what is initiating the cancel. Possibly an ATI command your sending?

[ratherBgolfing]

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Thanks. Fixed the bug that was cancelling the orders.

Please confirm that, if Target Chase is in effect and chasing, the exisiting target order will be filled if the Change can not be completed (ie. in a fast moving market the market price moves too close to complete the change).

[NinjaTrader_Ray]

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Not sure I understand. I can confirm that if target chase is enabled and the market moves through your target it will be filled.

[ratherBgolfing]

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yes of course it the market moves through any limit order it will be filled....however if you try to place/move/change a limit order at the same time the market moves onto that new price you will get an error message that you can not place the order....

hence my question, if this happens and the new/changing order can not be placed, does the existing order remain in effect and get filled?...without fail?

[NinjaTrader_Ray]

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Still don't understand. Market moves do not impact the ability/inabiltiy to ammend a limit order. For sure you can't modify a limit order if its in the process of being modified.

[ratherBgolfing]

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Say the mkt is at 750.50 and your target is at 750.60....the mkt then touches the target and then moves away....the target chases by trying to move to 750.50 but before the new limit order can be placed/confirmed at/by the exchange, the mkt has moved back to 750.50....in that case the exchange will not accept the new order right?...so does the old target remain in effect and get filled at 750.60?

[NinjaTrader_Ray]

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Limit orders can be modified to any price witthin an outer threshold (different for each exchange) from the inside market. In your example, order change would be accepted no problem.