StopLoss/ProfitTarget causing 'orders can't be placed above the market' Error

[Dan_TUK]

Hi

I'm using Strategy Builder to create a strategy that I'm running on Renko charts and am using playback for testing. I am entering using market orders, which appears to work fine. However, I keep intermittently getting the error about order being rejected because stop or limit orders can't be placed below the market, when my stop loss or profit target are hit and can't seem to find a way to handle these neatly to prevent them from happening.

When using a profit target (ticks), I get errors like

The OCO ID ‘477586e8473f4c099a8898e5578b0e76’ cannot be reused. Please use a new OCO ID. affected Order: BuyToCover 1 Limit @ 20382.25,
Order rejected' Native error='Buy stop or buy stop limit orders can't be placed below the market.

or with a stop loss

Order,Playback101 Sell stop or sell stop limit orders can't be placed above the market. affected Order: Sell 1 StopMarket @ 20338,
Order='94c1d518d2c343e5a3ed33c245d4 88fa/Playback101' Name='Stop loss' New state='Rejected' Instrument='MNQ SEP24' Action='Sell' Limit price=0 Stop price=20338 Quantity=1 Type='Stop Market' Time in force=GTC Oco='' Filled=0 Fill price=0 Error='Order rejected' Native error='Sell stop or sell stop limit orders can't be placed above the market.',
Order='94c1d518d2c343e5a3ed33c245d4 88fa/Playback101' Name='Stop loss' New state='Submitted' Instrument='MNQ SEP24' Action='Sell' Limit price=0 Stop price=20338 Quantity=1 Type='Stop Market' Time in force=GTC Oco='' Filled=0 Fill price=0 Error='No error' Native error=''

I'm running the strategy with high order resolution, set to Tick. Is there anything else I should be doing, to prevent this error from occurring?

Thanks
Dan

[NinjaTrader_ChelseaB]

Hello Dan,

As this script is created with the Strategy Builder, may I confirm that you are using Calculation mode set to Ticks, Currency, or Percent with the Stop losses?

May I have a screenshot of the stop loss you have setup?

Typically I would only expect this behavior when attempting to use a Calculation mode Price.

[Dan_TUK]

Hi Chelsea,

Thanks for coming back to me. Here is a screenshot, I'm only using Ticks for the calculation mode, although I am using an input variable for the value.



Regards
Dan

[NinjaTrader_ChelseaB]

Hello Dan,

What value is the StopLoss variable assigned?

[Dan_TUK]

For this test, the value was set to 32

[NinjaTrader_ChelseaB]

Hello Dan,

Hmm that doesn't sound like it would can an issue.

Would you be ok with posting the script so I can test on my end?

To export a NinjaTrader 8 NinjaScript so this can be shared and imported by the recipient do the following:

1. Click Tools -> Export -> NinjaScript Add-on...
2. Click the 'add' link -> check the box(es) for the script(s) and reference(s) you want to include
3. Click the 'Export' button
4. Enter the script name in the value for 'File name:'
5. Choose a save location -> click Save
6. Click OK to clear the export location message

By default your exported file will be in the following location:

• (My) Documents/NinjaTrader 8/bin/Custom/ExportNinjaScript/<export_file_name.zip>

Below is a link to the help guide on Exporting NinjaScripts.

http://ninjatrader.com/support/helpGuides/nt8/export.htm

Once exported, please attach the file as an attachment to your reply.

[Dan_TUK]

Hi Chelsea

From having done a bit more testing this morning, I think the problem was happening if the strategy was triggered by a large price movement during a news event. The price moves so quickly that it passes the stop loss, before it's set.

I presume that there's no much I can do about this, other than disabling the strategy during news events?

Regards
Dan

[NinjaTrader_ChelseaB]

Hello Dan,

You can choose to not trade during new events.

Or you could use a much greater tick distance.

Or you could unlock the script and add logic to ensure the sell stop price is below the bid.

https://forum.ninjatrader.com/forum/ninjatrader-8/strategy-development/1307722-sell-order-stop-must-be-below-price#post1307731