When a stop loss order is filled beyond limit price - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


When a stop loss order is filled beyond limit price
Updated: Views / Replies:11,195 / 56
Created: by Big Mike Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

When a stop loss order is filled beyond limit price

  #31 (permalink)
Elite Member
san ramon
 
Futures Experience: Beginner
Platform: ninja
Broker/Data: zen
Favorite Futures: es, 6e
 
Posts: 136 since Oct 2009
Thanks: 98 given, 73 received


Silvester17 View Post
if I understand your question right, you just move your stop to the trading price and then it should be executed.

Thanks......in fast moving markets I find very hard to move a stop order next to the price target .......I mean successfully, i.e. if I don't want to get chopped in pieces ........so I tried with on-the-fly order modification but Mirus does not support such modification although NT does...... NinjaTrader Support Forum - View Single Post - Orders below last traded price ... I thought someone with more experience than me would be able to recommend a broker who supports stop order modifications ........

also....if you look at the log from todays trade you can see that you must place a stop order ABOVE not AT last traded price......in this example https://futures.io/37206-post21.html the price was 1.3229 and I was only allowed to place the order above it

Reply With Quote
 
  #32 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,439 since Jun 2009
Thanks: 999 given, 1,595 received


Big Mike View Post
I agree, it seems like this should be the answer, yet the facts disagree. Maybe after I read the NT thread and hear from the broker I'll have a new idea as to what happened.

As for lolu's post, there was no ATM involved here. I completely understand in a fast moving market if your ATM cancels/moves/repositions an order, you can have slippage. But in this case no ATM, the order was sitting there for many minutes before price traded near the level, and the market wasn't moving very fast. It was just a DT breakout if I remember right.

Mike

Hey, Mike; please, what is a DT breakout ?

Lolu

Reply With Quote
 
  #33 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,150 received



lolu View Post
Hey, Mike; please, what is a DT breakout ?

Lolu

Just my term.

DT/DB double top/double bottom

Top = I use the term breakout to upside
Botom = I use the term breakdown to downside

So, if we have a DT formed, and I decide to buy the breakout, I mean I buy 1 or 2 ticks outside the DT (higher) using a buy stop ahead of time. If we have a DB formed, and I decide to short the breakdown, I mean I short 1 or 2 ticks outside the DB (lower) with a sell stop ahead of time.

The market can "pop" a bit around these areas, lending to some slippage, but it shouldn't be routine or drastic.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #34 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: TF
 
Posts: 28 since Oct 2009
Thanks: 96 given, 23 received

Mike, here are a few links to discussions of Ninja stop limits.

http://www.mypivots.com/Board/Topic/5596/1/ninjatraders-refusal-to-fix-major-flaw-leads-to-banning

Limit offset-major problem - NinjaTrader Support Forum

Help with stop loss - NinjaTrader Support Forum

Reply With Quote
The following 3 users say Thank You to mgtrader for this post:
 
  #35 (permalink)
Elite Member
Kent, England
 
Futures Experience: Intermediate
Platform: Sierra
Broker/Data: Infinity
Favorite Futures: Oil
 
Mickey Caine's Avatar
 
Posts: 196 since Jul 2009
Thanks: 1,607 given, 347 received

Hi Mike.

Having a Stop limit order seems a bit strange to me. You suggest, in your example, that someone must sell you a contract at 83.30. What happens if there are no sellers at that level or not enough to fill all the buy orders. Price goes up and you are still short because you only want to buy at 83.30. Price could keep going and you could find yourself in a very big hole. Surely a normal stop order that turns your buy order to a market order if price trades at 83.30 is what is needed. Price has hit your stop level, you are wrong with this trade, GET OUT.

Reply With Quote
 
  #36 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,150 received



Thx. Also shows I wasn't losing my mind about globex not supporting market orders at one point

So, it seems that either the default NT config of "stop limit" is not ideal, or that I have somehow changed my DOM without knowing it, and need to change it back to "stop market".

However, that begs a new question. The stop market resides at the broker, yes? (I believe the answer is yes) and is not simulated on NT side, right? Because if NT requires the market trade at the stop price before submitting a market order, that extra 30-35ms each way, plus execution processing delay, could be quite costly. I'll have to do some more testing, but I am concerned the stop will be simulated when set to "stop market".

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #37 (permalink)
Elite Member
Madison, WI
 
Futures Experience: Advanced
Platform: Sierra Charts, ALT
Favorite Futures: ES
 
aslan's Avatar
 
Posts: 614 since Jan 2010
Thanks: 342 given, 1,077 received

Some more CME info

I found this zen-oriented thread on NT forum:

Question regarding how NT handles stop market orders on Globex - NinjaTrader Support Forum

The 6th post has some good info, and has a good link to CME info on native order types (http://www.cmegroup.com/globex/files/GlobexRefGd.pdf). The terminology "Market with Protection" and "Limit with Protection" was new to me.

I am curious if the broker ever got back to you on your slippage. If your order was not a native "stop limit" order, then the slippage makes sense.

There are a couple of layers that need to be understood to figure out what is going on. First is how is Ninja configured for stops, second how does your broker translate the ninja order into an exchange order, finally what actually happened at the exchange.

Reply With Quote
 
  #38 (permalink)
Elite Member
UK
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: ib
Favorite Futures: Electric Guitar
 
Mindset's Avatar
 
Posts: 355 since Sep 2009
Thanks: 88 given, 285 received

K.I.S.S

buy limit
An order to a broker to buy a specified quantity of a security at or below a specified price.

If you are getting slippage something is wrong or more likely the wrong type of order is being submitted. The exchange rules would prevent NT or Mirus or anybody screwing with a limit order.

Reply With Quote
 
  #39 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,439 since Jun 2009
Thanks: 999 given, 1,595 received


Mindset View Post
buy limit
An order to a broker to buy a specified quantity of a security at or below a specified price.

If you are getting slippage something is wrong or more likely the wrong type of order is being submitted. The exchange rules would prevent NT or Mirus or anybody screwing with a limit order.

But "they" say limit orders are executed on First In First Executed (FIFE) basis. So, who control this FIFE process ?

Lolu

Reply With Quote
 
  #40 (permalink)
Elite Member
UK
 
Futures Experience: Intermediate
Platform: NT
Broker/Data: ib
Favorite Futures: Electric Guitar
 
Mindset's Avatar
 
Posts: 355 since Sep 2009
Thanks: 88 given, 285 received

Electronic


If it's an electronic exchange eg Eurex it's just a queue system of whoever gets their order in first. You have to be careful therefore if you 'amend' your order because often this loses your position in the queue.
There is no way (to my knowledge) of knowing how many orders are in front of you.

You can of course jump the queue by placing a market order but even there you may be 1 of a dozen market orders so a queue may exist.

Remember it's not a conspiracy if they are all out to get your money :-)
Can't speak for anything else.

Reply With Quote

Reply



futures io > > > > When a stop loss order is filled beyond limit price

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Limit Order and Trailing Stop Tiger45 NinjaTrader Programming 7 May 9th, 2013 06:57 AM
How to set up a Stop (Limit) Loss order - Ninja Trader jdumanic NinjaTrader 2 June 7th, 2011 06:40 PM
Stop Limit Order Big Mike Terms (Glossary) 0 July 2nd, 2010 12:37 PM
Stop Loss Order Big Mike Terms (Glossary) 0 June 28th, 2010 01:29 AM
Stop Limit Order with InteractiveBrokers tom1 NinjaTrader 2 June 20th, 2010 11:29 AM


All times are GMT -4. The time now is 02:58 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
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.
no new posts
Page generated 2017-11-19 in 0.13 seconds with 19 queries on phoenix via your IP 54.80.33.183