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Sierra vs. Ninja : why I chose .....
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Sierra vs. Ninja : why I chose .....

  #101 (permalink)
Error-prone
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I mean, can the stop limit offset in SC be greater than what the CME specifies as the maximum stop limit offset/protection point? ie CME site says for a Stop with Protection, the protection range is 12 ticks on ES, outside of this the Stop Limit will remain on the book as unfilled. What happens if SC is set to use Stop Limit Offset of 20 ticks, is the order accepted, or modified, or rejected?

Compared to your TT example, what happens on Rithmic to orders submitted as type Stop: Stop, are they converted to Stop Limits automatically as well? In this case, is the Stop Limit offset specified in Sierra used, or is the CME protection range used for the limit offset? Would you only want to set the Stop Limit Offset if you want it set smaller than the CME Offset?

This area seems critical for risk management, and it would be helpful for traders if you could try to make all this more clear in the documentation/platform, and also if the order type listed as Stop: Stop was disabled on markets where it is not supported, ie CME. In these instances, I think it would make sense if Stop Limit was used from the beginning to avoid unnecessary conversions, and the user should be aware if they need to configure the Stop Limit Offset setting or not also.


You might be asking that your platform do too much of the "being intelligent" here - kind of like the mummy state being too restrictive on our freedoms. In my experience SC rejects orders when your broker's interface software rejects them.

Brokers such as IB often support orders that the exchange doesn't by simulating them. And in some cases you can also change some of those options yourself (so how would the platform even know until an order is rejected). Similarly brokers may support orders outside of the exchanges' limits on their hosts.

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  #102 (permalink)
 Vendor: www.sierrachart.com 
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I mean, can the stop limit offset in SC be greater than what the CME specifies as the maximum stop limit offset/protection point? ie CME site says for a Stop with Protection, the protection range is 12 ticks on ES, outside of this the Stop Limit will remain on the book as unfilled. What happens if SC is set to use Stop Limit Offset of 20 ticks, is the order accepted, or modified, or rejected?

Compared to your TT example, what happens on Rithmic to orders submitted as type Stop: Stop, are they converted to Stop Limits automatically as well? In this case, is the Stop Limit offset specified in Sierra used, or is the CME protection range used for the limit offset? Would you only want to set the Stop Limit Offset if you want it set smaller than the CME Offset?

This area seems critical for risk management, and it would be helpful for traders if you could try to make all this more clear in the documentation/platform, and also if the order type listed as Stop: Stop was disabled on markets where it is not supported, ie CME. In these instances, I think it would make sense if Stop Limit was used from the beginning to avoid unnecessary conversions, and the user should be aware if they need to configure the Stop Limit Offset setting or not also.


The CME accepted a Stop-Limit order with a 20 tick limit. Here is the image:
http://www.sierrachart.com/userimages/upload_2/1349076795848.png


This was submitted to the CME simulation system.

You can use whatever Limit offset that you require.

No matter what the backend trading platform/service is, the CME is going to convert a stop to a Stop-Limit. How each backend platform/service is going to handle order modifications in this case, we are not certain. In the case of TT we do have the ability to alter the Limit price and maintain a constant offset. We have not looked at other services.

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  #103 (permalink)
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Quoting 
In my experience SC rejects orders when your broker's interface software rejects them.

This was restriction was removed about two months ago. And now there is an option for this. It is in Global Settings >> Chart Trade Settings >> Reject Stop Orders That Will Immediately Fill. Uncheck this option.

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  #104 (permalink)
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@josh, can you elaborate on what exactly lagged slightly in SC at the close, ie DOM/charts/interface etc, how you determined it to be lagging/what you compared it to?

It's a small timeframe volume chart, and there is a small lag in printing those bars. It's not something I'd expect any piece of software to be able to print without lag, when 50K or so hits the market in a matter of 5 seconds or so. Also, this can be related to the data feed, as the data provider itself can get backed up. Not something to be concerned over. My point was that SC was faster than anything I've seen before.

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  #105 (permalink)
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We tested a Stop order on the CME with Rithmic and the order remained as a Stop order. So we do not see a way in which the limit price could be modified. Possibly it could be specified, but probably it would just get ignored. How Rithmic handles it in their backend we do not know.

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  #106 (permalink)
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manualtrader View Post
Here is another post today from trader

And here is one from you December 2011:


manualtrader View Post
If you do chart trading, NT is the most stable and accurate!

Don't turn this into a trashing NinjaTrader thread where the entire purpose is to sling mud. We've already understood from your posts that you don't like Ninja, your point has been made.

This thread was started by Josh to document his findings from his perspective, lets honor that. Everyone has different needs as a trader, and there are obviously a lot of people that are extremely pleased with NinjaTrader. There are some people that are extremely pleased with Sierra Chart. There are some that are extremely pleased with both, and there are some others that don't like either.

Let's keep the posts factual and free of trollish behavior.

Mike

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  #107 (permalink)
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We tested a Stop order on the CME with Rithmic and the order remained as a Stop order. So we do not see a way in which the limit price could be modified. Possibly it could be specified, but probably it would just get ignored. How Rithmic handles it in their backend we do not know.

What we have read in the Rithmic documentation in regards to this, is that once the stop price has been triggered on a Stop-Limit order, the order type turns into a Limit. So we will make certain that we recognize the change in order type from Rithmic in case you want to modify it after the Stop price has been triggered.

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  #108 (permalink)
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SierraChart View Post
What we have read in the Rithmic documentation in regards to this, is that once the stop price has been triggered on a Stop-Limit order, the order type turns into a Limit. So we will make certain that we recognize the change in order type from Rithmic in case you want to modify it after the Stop price has been triggered.

Won't it be too late to modify it once the stop has been triggered, ie it will usually be filled in milliseconds?

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  #109 (permalink)
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Won't it be too late to modify it once the stop has been triggered, ie it will usually be filled in milliseconds?

Yes but not in the case of a negative stop limit (i.e., buy stop limit, trigger price is 1450.00, limit is a -2 offset of 1449.50).

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  #110 (permalink)
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Meant to say this a while back but did not. It's a super super minor detail but I love it. Sierra calls the tool "Price Retracement" whereas most others call it "Fibonacci Retracement." Thank you Sierra, for making it so I don't have to see the ugly "F" word every time I want to measure a 50% (NON-F-word) retracement. Call it what it is: a price retracement. Awesome.

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