NexusFi: Find Your Edge


Home Menu

 





Ninjatrader Question: Broker Demo License and Stops


Discussion in NinjaTrader

Updated
    1. trending_up 4,367 views
    2. thumb_up 1 thanks given
    3. group 2 followers
    1. forum 4 posts
    2. attach_file 0 attachments




 
Search this Thread

Ninjatrader Question: Broker Demo License and Stops

  #1 (permalink)
 DannyG 
Canada
 
Experience: Beginner
Platform: Ninjatrader
Posts: 47 since Dec 2009
Thanks Given: 23
Thanks Received: 14

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.

Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
NexusFi Journal Challenge - April 2024
Feedback and Announcements
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Ninja Mobile Trader VPS (ninjamobiletrader.com)
Trading Reviews and Vendors
Exit Strategy
NinjaTrader
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #2 (permalink)
 cbratton 
Cebu, Philippines
 
Experience: Advanced
Platform: NinjaTrader
Trading: Emini ES
Posts: 71 since Oct 2009
Thanks Given: 128
Thanks Received: 118


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.

Reply With Quote
  #3 (permalink)
 DannyG 
Canada
 
Experience: Beginner
Platform: Ninjatrader
Posts: 47 since Dec 2009
Thanks Given: 23
Thanks Received: 14


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

Started this thread Reply With Quote
  #4 (permalink)
 cbratton 
Cebu, Philippines
 
Experience: Advanced
Platform: NinjaTrader
Trading: Emini ES
Posts: 71 since Oct 2009
Thanks Given: 128
Thanks Received: 118


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.

Reply With Quote
  #5 (permalink)
koganam
Garner, NC/USA
 
Posts: 39 since Dec 2009
Thanks Given: 16
Thanks Received: 42

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.


Reply With Quote
Thanked by:




Last Updated on January 7, 2010


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts