Non-exchange based orders (client side only)

[pjsmith]

Hello,

Because of the limitations/restrictions of some brokers and also not really wanting to annoy the exchange, I'm wondering if there is a way to place orders that reside client side only and are executed when client side conditions are met only (i.e. price reaches target). There are 'simulated' volume stops that do this, but I was looking more at profit targets - exit orders. The reason for this being some brokers impose a limit on the number of active exchange orders and also charge for order changes. There are also exchange rules etc. I would like to place orders that sit client side and are executed when target prices etc., are reached. I understand the limitations with this, but it is a requirement I have. I currently trade like this on another platform, but am wondering if there is a way to do this on NT 8.

Thank you.

[NinjaTrader_EricB]

Hello,

Thank you for your post.

Glad to assist. There is unfortunately not a method to place a live order that will remain local in this manner in NinjaTrader 8. However, a similar feature is available via MIT or Market If Touched orders, which will remain only at the broker and not the exchange until price is reached.

See the below, publicly available link to the NInjaTrader Blog for more on MIT orders.

https://ninjatrader.com/blog/hide-orders-from-the-market-using-market-if-touched-orders-mit/

To see how to submit MIT orders from your current order entry window, select it and press the F1 key on your keyboard to open the Help Guide to that window. The Submitting Orders section of each order entry window will list method to submit orders like MIT, limit, ect.

Let us know if we may assist further.

[pjsmith]

Thank you - That might just do what I want. I will try it out...