NT for SWING Trading - Essential Requirements

[waverider]

Hi Team,

Have used NT for a long while - for day trading, now for charting my swing trading strategy, however, I'm struggling to work out if NT is suitable for execution (simple order entry) of a swing trading strategy.

Please see attached. I have attempted to create an example order for 3 apple shares, using my IB connection:

Stop Limit Order - entering a limit price and stop price.
3 Targets / Stops - again, entering an actual price in the box, not a number of ticks - which I think worked.

1. When I entered this, TWS (IB) did not pick up the attached OCO orders. Does this mean they are only on NT servers? On my Desktop only? Do they get transmitted when trade is triggered?

2. More crucial, I trade CFDs. NT doesn't handle CFD's right? Is this coming soon? I realise it's not an American thing, but it's extremely popular in Europe / Australia / etc.

Thanks for helping make NT more suitable for swing trading.

wave

[caveroute]

Chart trader with an atm strategy perhaps.

If you know where to place your stops/targets this should take all of a few seconds.

Or am I missing something ?

[NinjaTrader_Jason]

Hello waverider,

As caveroute mentions, you could use ChartTrader for this purpose. It allows you to submit the order at the price you like. Please see the link below.

http://ninjatrader.com/support/helpGuides/nt7/submitting_orders4.htm

The Basic Entry window can be used to submit orders at the prices you enter. If you click your scroll wheel in the Limit or Stop fields, it will update to the current price. You can then scroll to the price you like.

You can set 'Parameter type' to Price instead of Ticks in the properties menu of the SuperDOM/ChartTrader/Basic Entry. Subsequently you can enter the price in the Stop loss or Profit target fields instead of ticks.

[waverider]

Cheers, I'll try Chart Trader. Yes, you'll see I changed my post after digging deeper ; ) ... Still have questions though.

[waverider]

Thanks Jason, that's very helpful. You were very quick, please see that I edited my questions after discovering some of that already.

Also, I can't get the middle scroll press to bring up price as you mentioned? Maybe because the market is closed?

Thanks a lot!

[NinjaTrader_Jason]

Yes, you need to receive realtime data to submit orders in NinjaTrader. If no realtime data is received, clicking the scroll wheel will not have any effect.

1. Yes, ATM orders are only submitted when you entry order fills.

2. CFD's are only supported with FXCM in NinjaTrader 7.

[waverider]

Yes, you need to receive realtime data to submit orders in NinjaTrader. If no realtime data is received, clicking the scroll wheel will not have any effect.

1. Yes, ATM orders are only submitted when you entry order fills.

2. CFD's are only supported with FXCM in NinjaTrader 7.

Thanks, and CFD's in NT 8 ??
So the ATM order will be held by IB and show up in TWS once the order is filled?

Thanks

[NinjaTrader_Jason]

CFD's for Interactive Brokers is supported in NinjaTrader 8.

Yes, once your entry order fills, NinjaTrader will submit the ATM orders to the broker/exchange.

[waverider]

NT for Swing Trading - Essential Requirements

Hello waverider,

As caveroute mentions, you could use ChartTrader for this purpose. It allows you to submit the order at the price you like. Please see the link below.

http://ninjatrader.com/support/helpGuides/nt7/submitting_orders4.htm

The Basic Entry window can be used to submit orders at the prices you enter. If you click your scroll wheel in the Limit or Stop fields, it will update to the current price. You can then scroll to the price you like.

You can set 'Parameter type' to Price instead of Ticks in the properties menu of the SuperDOM/ChartTrader/Basic Entry. Subsequently you can enter the price in the Stop loss or Profit target fields instead of ticks.

Hi Jason,

Having looked at this closer now. I've set parameter to price rather than ticks, but in the ATM strategy pop up, (or on order entry screen in general) I still have to middle-click to bring up current price and then SCROLL. So there's no way to just enter price ! ? This is a simple but majorly important update for swing trading. Targets and stops are TOO FAR AWAY to scroll when swing trading.

Note that because this limitation applies to ATM strategy, AND because chart trader doesn't allow Stop Limit orders (does it?), the idea of using chart trader has not solved my problem of using NT for swing trading.

Can this please be added to the enhancement list ?? Seems so easy, and so valuable?

Cheers,

[waverider]

OCO Orders with Chart Trader and IB API

Yes, you need to receive realtime data to submit orders in NinjaTrader. If no realtime data is received, clicking the scroll wheel will not have any effect.

1. Yes, ATM orders are only submitted when you entry order fills.

2. CFD's are only supported with FXCM in NinjaTrader 7.

Hi Jason,

Can you please confirm - when I place an order on chart trader with ATM strategy (broker = IB) as noted, the OCO orders do not get sent to IB immediately.

Does this mean if I turn NT off before that order get's filled, the OCO's will not be triggered?

Thanks

[NinjaTrader_Jason]

Hello waverider,

You can submit stop limit orders with ChartTrader. It should be available in the right click menu (Buy/Sell Stop Limit)

Typing in the price for these fields is supported in NinjaTrader 8.

Correct, only when the entry order fills, ATM orders are submitted. So if NinjaTrader is shut down before the order fills, no ATM orders are submitted.

[waverider]

Thanks again,

Confirming I definitely only see Buy/Sell LIMIT or Buy/Sell STOP but no "Stop Limit" (which is available on the basic order entry screen)... ?

That's a real shame about OCO orders not being transmitted as my trading requires placing orders which will get hit overnight while I'm asleep. Is this something that will change with NT8 ?

Thanks

[NinjaTrader_Jason]

This is as expected for CFD's. You should see Stop Limit when other instrument types are selected in the chart.

Unfortunately this is not changed in NinjaTrader 8. NinjaTrader needs to be running and connected to submit ATM orders when your entry order fills.

[sledge]

That's a real shame about OCO orders not being transmitted as my trading requires placing orders which will get hit overnight while I'm asleep. Is this something that will change with NT8 ?

A lot of people are happy with that option as no one other than them sees their order waiting around, so they feel more secure than having the order at their broker or exchange.

[koganam]

Hi Jason,

Having looked at this closer now. I've set parameter to price rather than ticks, but in the ATM strategy pop up, (or on order entry screen in general) I still have to middle-click to bring up current price and then SCROLL. So there's no way to just enter price ! ? This is a simple but majorly important update for swing trading. Targets and stops are TOO FAR AWAY to scroll when swing trading.

Note that because this limitation applies to ATM strategy, AND because chart trader doesn't allow Stop Limit orders (does it?), the idea of using chart trader has not solved my problem of using NT for swing trading.

Can this please be added to the enhancement list ?? Seems so easy, and so valuable?

Cheers,

Not really true.

You can use StopLimit entires and exits on ChartTrader.

If AutoScale is true, you will see all your orders on the chart. Yes, no matter how far away they are. The chart will scrunch up to display the orders.