Problem with 'Parameter Type' set to Price

[codeye]

NT ver 5.0.1000.4

Please check on the following issue.

- Set the 'Parameter Type' to 'Price' in properties for Super Dome.

- Create a strategy with 'Stop loss' = 1.25 and 'Profit Target' = 3.25 and save.

- Place an order with this strategy and NT sends a 'Stop loss' order with actual stop price of1.25 instead of offset from entry price. Same thing with 'profit target'.

- NT generates 'error message' stating that 'Limit orders can't be placed below Market' etc. - Control Center=>Orders tabin fact shows limit/stop prices of 1.25 and 3.25.

Set 'Parameter type' to Tick and all is well.

[NinjaTrader_Ray]

It is working correctly.

Price = Absolute price not point based values

So if you enter a target of 3.25 an order will be submitted at a price of 3.25 this generating the error that you see.

Ray

[codeye]

AH! So there's been a change form NT 4. That explains it!

Thanks for your quick reply.

[codeye]

Ray,

After a bit of thought I can not figure out why anyone would want to save a strategy with hard coded stop and target prices. I think it only madessense, as inNT v.4,to set astrategy's stop and target levelsbasedon eithera tick or point offset. Can you please confirm with someone that this is the actual desired designchange for NT v.5.

Thanks

[NinjaTrader_Ray]

You are right, no one would want hard coded absolute price values. That is not it's application. For equitiy traders, you want to be able to set strategy to <Custom> and dial in the actual prices of your target and stops.

In futures, its quite normal to always use a fixed amount for stop and target. For equities, its more flexible in that you might set your stop loss below the last swing low on a 5 minute chart. This is why you need to have price based or, percent based parameter types.



Ray

[codeye]

Thanks again Ray. I will do my best to accept this change! lol

Take care.