limit orders

[sergeysamsonov]

Hello

I am trying to work with tight limit orders (Close[0]+0.00005) and sometimes price moves too much in my direction that I get a message that limit order was placed "in the money". Is there a way to let NT know that it should assume in such cases a market order.

For example:

Close[1] = 1.0000
ExitLongLimit order sent at 1.00005

and next bar Open[0]=1.0001, so my limit order is ignored, which is not good since it is in my direction.

What is the best way to solve this problem?

Thank you,
Sergey.

[NinjaTrader_RyanM1]

Hello sergey,

Generally brokers will change your limit order to a market order when the last traded price is better than the limit price. Can you please let us know the broker you're using and the exact message they're providing in this case?

[sergeysamsonov]

I use kinetik and it was simulation (not connected to IB for trading) but in real time.

It was on 0.0004 pips range bars.


The error was something like: the order was rejected because limit price is lower than current price, strategy now will be stopped.

And then position was closed and strategy was stopped. Stopping is the problem for me since I do not want to monitor strategy all the time.

Sergey.

[NinjaTrader_RyanM1]

That's expected with stop orders but not what you will see with limit orders. Limit orders become marketable when placed on "wrong" side of market.

Can you send to support your trace log files for the day and indicate the time the order was submitted? We can see what order caused the message. Easiest way is with Help > mail to support. In the subject write: Attn RyanM 467553

[koganam]

Hello

I am trying to work with tight limit orders (Close[0]+0.00005) and sometimes price moves too much in my direction that I get a message that limit order was placed "in the money". Is there a way to let NT know that it should assume in such cases a market order.

For example:

Close[1] = 1.0000
ExitLongLimit order sent at 1.00005

and next bar Open[0]=1.0001, so my limit order is ignored, which is not good since it is in my direction.

What is the best way to solve this problem?

Thank you,
Sergey.

You must have sent a StopLongLimit() order. That has to be placed ahead of the market at the time that the order is placed.