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stop/limit order question


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stop/limit order question

  #1 (permalink)
 
stefan416's Avatar
 stefan416 
Toronto, Canada
 
Experience: Intermediate
Platform: Ninjatrader, MT4
Trading: Forex, US Index Futures
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Hey fellow traders, I was wondering if this order placement possibility exists in Ninjatrader. Im basically looking to set a buy limit order above the current trading price without it being triggered until price trades through and back again. For instance, we have a 10 range chart trading at 90.00 with a new bar forming at 90.11 (+1 on of the range bar). I would like to be able to place a buy limit order at 90.10 but only if the new bar forms when price trades through 90.10 to form the new bar. Right now I am placing buy stops at the .11 (+1 on the bar). I figure an extra 1 or 2 tick can go a long way towards making up for slippage etc.

I know you are able to do this type of limit order on Oanda's Java platform on their basic order entry windows. If anyone knows if this is possible Id really like to know!

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  #2 (permalink)
 terratec 
Zurich Switzerland
 
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This is a contingent order and you have to code it in an indicator or a strategy. It does not exist just ready to use in NT.

I did use something similar in this tool.

You have to define conditions that you want to be true before an order is placed.

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  #3 (permalink)
 
stefan416's Avatar
 stefan416 
Toronto, Canada
 
Experience: Intermediate
Platform: Ninjatrader, MT4
Trading: Forex, US Index Futures
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Thanks terratec, Ill check it out. would I have to modify the indicator for my purpose? How use it seems to be eluding me lol

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  #4 (permalink)
 terratec 
Zurich Switzerland
 
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Take it as an example how you could do it. You cannot just change this indicator as the contingent order is only a very small part of it.
You have to write your own.

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 josh 
Georgia, US
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stefan416 View Post
Hey fellow traders, I was wondering if this order placement possibility exists in Ninjatrader. Im basically looking to set a buy limit order above the current trading price without it being triggered until price trades through and back again. For instance, we have a 10 range chart trading at 90.00 with a new bar forming at 90.11 (+1 on of the range bar). I would like to be able to place a buy limit order at 90.10 but only if the new bar forms when price trades through 90.10 to form the new bar. Right now I am placing buy stops at the .11 (+1 on the bar). I figure an extra 1 or 2 tick can go a long way towards making up for slippage etc.

I know you are able to do this type of limit order on Oanda's Java platform on their basic order entry windows. If anyone knows if this is possible Id really like to know!

This order exists in NT -- hold control + click middle button on your dom. The number that then appears is the offset. Set it to -1 if you want the buy limit to be one tick below the stop price. Vice versa for sell orders.

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  #6 (permalink)
 
stefan416's Avatar
 stefan416 
Toronto, Canada
 
Experience: Intermediate
Platform: Ninjatrader, MT4
Trading: Forex, US Index Futures
Posts: 58 since Sep 2011
Thanks Given: 15
Thanks Received: 12


josh View Post
This order exists in NT -- hold control + click middle button on your dom. The number that then appears is the offset. Set it to -1 if you want the buy limit to be one tick below the stop price. Vice versa for sell orders.

That's exactly what I was looking for. Thanks!

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Last Updated on August 14, 2012


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