A question for Ninjatrader users

R

Runningbear

If anyone is using Ninjatrader, can they tell whether it can do the following.

I'd like to be able to place market limit orders whereby I can set the limit price to be automatically calculated a certain number of points from the current bid or ask.

For example, if Im placing a buy order, and the ask is 3000 points, I'd like the limit price to be automatically submitted at say 3005 without having to actually type it in every time I place a trade.

If the ask went to 3007 and I placed a buy order the limit price would automatically be 3012

Basically Im looking for a way to place market limit orders with one click execution.

Does Ninjatrader or any of the other front ends allow this?

Thanks in Advance,

Runningbear
 
Runningbear,

If I understand you correctly, you want to place a LIMIT order at a price above the current inside market when BUYING or below the inside market when selling by some offset amount with one mouse click?

Yes you can do that using the SuperDOM. I do this often myself. You simply left click at the price you want (lets say 5 ticks above the ASK) in the BUY column and a LIMIT order at that price is submitted.

NinjaTrader
 
shadowpug,

A use the term market limit to mean the trade will be executed at the best price below or up to my limit order for buy orders. Not at my limit amount once hit.

So if the ask was 3005 points and my limit was 3010, my buy order would instantly be dispatched to the exchange for immediate execution at the best price (which could be any price less than 3010)

I'm not referring to straight limit orders

What I'm actually trying to achieve is less slippage than I would get with pure simulated market orders through IB, because they are not native to certain exchanges. Yet I still want one click trading for execution.

I hope that makes sense?

Thanks,

Runningbear
 
Runningbear,

Yes, makes absolute sense. Maybe my reply did not :(. What you have just explained is excatly what I was saying yes to. NinjaTrader will place a LIMIT order at 3010 and you will be executed at the best price (hopefully 3005) up until your limit of 3010....with one mouse click.
 
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