Ordering at bid & ask

[kfoxseattle]

I'm developing a strategy in the builder and need the order processed in a certain way upon the signal. I want longs to always buy at ask and shorts to sell at the bid to reduce slippage. How can this be accomplished?

Thanks!

[NinjaTrader_Emily]

Hello kfoxseattle,

Thank you for your post.

When setting up actions on the Conditions and Actions screen of the strategy builder, certain order types will allow you to specify the price. For example, when you choose to "Enter long position by a limit order" then there is a field to set the limit price for that order. When you set the price, you could set it at the bid or ask price. You will need to determine which order type is best for you in your strategy and also decide which side of the market the price of the order should be set at; if your strategy attempts to submit the order on the wrong side of the market, this could result in a rejection which would disable your strategy, cancel any working strategy orders, and attempt to close any open strategy positions.

For an overview on the different types of orders:

https://support.ninjatrader.com/s/article/Types-of-Futures-Orders?language=en_US

Here is a short video clip demonstrating how to select the desired order type as well as how to set the price to either the bid or the ask price:

https://www.screencast.com/t/WiifguKnj

We also have a YouTube overview of the Strategy Builder, and I have linked it with a timestamp that jumps to the section about setting up orders on the Conditions and Actions screen:

https://youtu.be/VxU4FR6GWNA?t=2887

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