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Ninjatrader Question: Broker Demo License and Stops
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Created: by DannyG Attachments:0

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Ninjatrader Question: Broker Demo License and Stops

  #1 (permalink)
Elite Member
Canada
 
Futures Experience: Beginner
Platform: Ninjatrader
 
Posts: 44 since Dec 2009
Thanks: 21 given, 14 received

Ninjatrader Question: Broker Demo License and Stops

I had a general question about Ninjatrader. The broker I am currently going with provides a free Ninjatrader key for use with live trading. However the free key does not allow the use of atm strategies including stop loss.

My basic question is, rather then using a stop loss to protect big losses from occurring, is it not the same thing if I just put a sell or buy limit after my trade?

Example : If I go long on a CL trade at 80.25, Will it be the same as a stop loss if I just put a Sell Limit at $80.10 selling my position if it drops 15 cents? or would it open a new position all together for a sell and keep the long position open?

I have tried it on a demo account and it does indeed close the long position, but I just want to make sure 100% since I have not tried it on a live account.

Thanks in advance.


Last edited by Big Mike; January 7th, 2010 at 11:31 AM. Reason: clarified title
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  #2 (permalink)
Elite Member
Alexandria+MN
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: Emini
 
Posts: 65 since Oct 2009
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DannyG View Post
I had a general question about Ninjatrader. The broker I am currently going with provides a free Ninjatrader key for use with live trading. However the free key does not allow the use of atm strategies including stop loss.

My basic question is, rather then using a stop loss to protect big losses from occurring, is it not the same thing if I just put a sell or buy limit after my trade?

Example : If I go long on a CL trade at 80.25, Will it be the same as a stop loss if I just put a Sell Limit at $80.10 selling my position if it drops 15 cents? or would it open a new position all together for a sell and keep the long position open?

I have tried it on a demo account and it does indeed close the long position, but I just want to make sure 100% since I have not tried it on a live account.

Thanks in advance.


If you go long, you want to put in a sell stop. I don't think you want a sell stop limit because you might not get filled. If you have a sell stop, if the price hits that it gets you out. It is the same as a stop loss order.

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  #3 (permalink)
Elite Member
Canada
 
Futures Experience: Beginner
Platform: Ninjatrader
 
Posts: 44 since Dec 2009
Thanks: 21 given, 14 received


Sorry I had my terms mixed up. I am using Sell Stop or Buy Stop not limit.

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  #4 (permalink)
Elite Member
Alexandria+MN
 
Futures Experience: Master
Platform: NinjaTrader
Favorite Futures: Emini
 
Posts: 65 since Oct 2009
Thanks: 128 given, 111 received


DannyG View Post
Sorry I had my terms mixed up. I am using Sell Stop or Buy Stop not limit.


Okay, then you are correct by what you said earlier.

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  #5 (permalink)
Trading Apprentice
Garner, NC/USA
 
Futures Experience: Advanced
Platform: Ninja Trader, thinkorswim
Broker/Data: thinkorswim, MBTrading
Favorite Futures: TF
 
Posts: 29 since Dec 2009
Thanks: 16 given, 33 received

Enter with limit orders, exit with market stops or limit targets.

When cutting a loss, you want out NOW!



DannyG View Post
I had a general question about Ninjatrader. The broker I am currently going with provides a free Ninjatrader key for use with live trading. However the free key does not allow the use of atm strategies including stop loss.

My basic question is, rather then using a stop loss to protect big losses from occurring, is it not the same thing if I just put a sell or buy limit after my trade?

Example : If I go long on a CL trade at 80.25, Will it be the same as a stop loss if I just put a Sell Limit at $80.10 selling my position if it drops 15 cents? or would it open a new position all together for a sell and keep the long position open?

I have tried it on a demo account and it does indeed close the long position, but I just want to make sure 100% since I have not tried it on a live account.

Thanks in advance.


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