Buy StopLimit order error

[molecool]

I'm getting this error when attempting to place a Buy StopLimit order:



That's new to me. There are many brokerages that permit a higher stop than a limit. Is this a NinjaTrader limitation?

Thanks.

[koganam]

I'm getting this error when attempting to place a Buy StopLimit order:



That's new to me. There are many brokerages that permit a higher stop than a limit. Is this a NinjaTrader limitation?

Thanks.

Apparently. Been there, tried that!

ref: http://www.ninjatrader.com/support/f...ight=stoplimit

[NinjaTrader_Matthew]

Are you doing this from a strategy? Or manually placing the order?

There are limitations here when using BuyStopLimit, but we have enhanced functionality for StopLimit orders through the SuperDOM/ChartTrader. The order is simulated at this point however.

[molecool]

Are you doing this from a strategy? Or manually placing the order?

There are limitations here when using BuyStopLimit, but we have enhanced functionality for StopLimit orders through the SuperDOM/ChartTrader. The order is simulated at this point however.

No, I'm doing this in a strategy! So for real? I can not use a common Buy Stop Limit this way? That's a major limitation - very disappointing :-(

Can you suggest anything that may let me simulate this? Could I simply use a LimitOrder and test for the stop in BarUpdate?

[koganam]

No, I'm doing this in a strategy! So for real? I can not use a common Buy Stop Limit this way? That's a major limitation - very disappointing :-(

Can you suggest anything that may let me simulate this? Could I simply use a LimitOrder and test for the stop in BarUpdate?

Pretty much. Test for stop to be hit, and enter a LimitOrder behind the market. Unfortunately, the only real way then is to either use COBC = false, or else do the operation from OnMarketData().

[molecool]

Pretty much. Test for stop to be hit, and enter a LimitOrder behind the market. Unfortunately, the only real way then is to either use COBC = false, or else do the operation from OnMarketData().

Okay, thanks mate. NT won't complain if I try to put the LimitOrder behind the market?

By the way, your comment regarding OnMarketData escapes me - could you please point me in the right direction?

[NinjaTrader_Matthew]

If you put a buy limit order above the current price, it will be treated as a market order.

[koganam]

Okay, thanks mate. NT won't complain if I try to put the LimitOrder behind the market?

By the way, your comment regarding OnMarketData escapes me - could you please point me in the right direction?

Limit Orders MUST be placed behind the market if they are to be treated as Limit Orders. If you place a Limit Order ahead of the market, it becomes an immediate Mar****rder that jumps right to the front of the order queue, and will NOT be honored at the current Ask/Bid depending on if you are buying/selling.

I do not know what else to tell you about OnMarketData(), other than that it is an NT event handler, that handles price data, somewhat differently, but unencumbered by actual trades, or how bars are constructed. You will have to read the NT Help for further information.

[molecool]

I never suggested to put it ahead of the market. My question was targeted at NT which seems to ***** all the time when I attempt to submit commonly used orders - e.g. Stop Limit Order as you recall.

[koganam]

I never suggested to put it ahead of the market. My question was targeted at NT which seems to ***** all the time when I attempt to submit commonly used orders - e.g. Stop Limit Order as you recall.

My mistake then, but that is what I read into this query (emphasis mine).

Originally Posted by molecool
... NT won't complain if I try to put the LimitOrder behind the market?

The order is either ahead or behind the market. (Well, I suppose it could be at the market). It seemed to me that you were querying what would happen if you placed the order behind the market, and I was simply saying that is you wanted it processed as a LimitOrder, then it has to be behind. Unfortunately, I also mentioned the only other possibility of it being ahead of the market. My apologies.