Buy Stop can't be placed below the market

[AdeptistJune]

Is this the correct way to resubmit rejected EnterLongStopMarket() orders:


private Order rejectedEntryOrder = null;

if (rejectedEntryOrder != null)
rejectedEntryOrder = GetRealtimeOrder(rejectedEntryOrder);

if ((entryOrder == null || entryOrder2 == null) && Close[0] > Close[1])
{
EnterLongStopMarket(0, true, 1, mfe[0], @"myEntryOrderLong1");
}

// Rejeced Order Mangement
if (rejectedEntryOrder == null)
rejectedEntryOrder = EnterLongStopMarket(0, true, 1, mfe[0], @"myEntryOrderLong1");

// Rejection entry orders
if (order.Name == @"myEntryOrderLong1")
rejectedEntryOrder = order;

if (rejectedEntryOrder != null && rejectedEntryOrder == order)
{
// Rejection handling
if (order.OrderState == OrderState.Rejected)
{
// Entry order was rejected !!!!
EnterLongStopMarket(0, true, 1, mfe[0], @"myEntryOrderLong1");
}
}

When I run the script in playback, I still get the error messages that say: "Buy stop or buy stop limit orders can't be placed below the market. affected order: Buy 1 StopMarket @3931.50
Then NT8 crashes.

I know I can do a check for High[0] > GetCurrentAsk(), but this check decreases my entry signals by a lot.

[jeronymite]

Without directly addressing your question, but nevertheless being very relevant, the following are essential to understanding Limit and Stop orders:

• Buy Limit must be BELOW current Ask
• Buy Stop must be ABOVE current Ask
• Sell Limit must be ABOVE current Bid
• Sell Stop must be BELOW current Bid

Thanks.

[NinjaTrader_Kate]

Hello AdeptistJune,

Thank you for your reply.

Looks like you're setting the price of the order to mfe[0] but you're not checking that that price is above current ask before submitting the order. I would suggest checking that's above the current price and if it isn't, adjust the price so it is.

Please let us know if we may be of further assistance to you.

[AdeptistJune]

Hello Kate,

My mistake for saying HIgh[0], when actually, I am checking mfe[0] > GetCurrentAsk(). I was just saying High[0] as an example.

When I check mfe[0] > GetCurrentAsk(), it decreases my number of trading signals.

I'm thinking of commenting out mfe[0] > GetCurrentAsk(), and trapping the rejected order, and resubmitting the order again.

When I tried this last night, in playback, the error occurred, and my NT8 crashed.

So either I wrote the rejection handling script wrong, or what I'm attempting doesn't work.

Any advice on how to approach EnterLong(Short)BuyStopMarket() orders that are rejected if I choose not to use the mfe[0] > GetCurrentAsk() check?

Thanks.

[NinjaTrader_Kate]

Hello AdeptistJune,

Thank you for your reply.

I mean, at some point you're going to need to check that when the order is submitted that it's at a valid price, if you just keep trying to submit the order at the same price you'd likely end up in kind of a loop of rejections and resubmittals. I would definitely advise checking that the mfe value is on the correct side before even submitting the order initially.

Please let us know if we may be of further assistance to you.

[AdeptistJune]

Hello Kate,

I was thinking the same thing, but it helps to hear it from someone who has more experience than myself. I will continue testing mfe[0] > CurrentAsk().