NinjaTrader AutoChase feature

[NinjaTrader_Ray]

NinjaTrader offers several automatic order chasing features. These features are available on your initial entry limit orders (when initiating a position strategy) and on profit target limit orders.

There are two options Chase and Chase If Touched.

Chase

This is available on entry limit orders only. In one of the entry windows Entry tab, set the Chase Limit amount. This is the maximum amount you are allowing NinjaTrader to modify (chase) your order. Chase activates everytime the market moves away from your limit order. So if the market moves away one tick, NinjaTrader modifies your order by one tick. This will continue until the order has been filled or has been modified to the the maximum value as specified by the Chase Limit amount. A practical example would be that you want to buy on the BID but are willing to pay up to an additional 2 ticks to enter the position. You would set the Chase Limit value to 2 ticks, enable Chase and then place the order. If market moved away NinjaTrader will start modifying the order price to try and get you in.

Chase If Touched

Works the same way as Chase but the difference is that NinjaTrader will not start modifying the order until the order price is touched. Chase starts chasing right away as soon as the market moves away. With Chase If Touched, you place aLimit order into the market, if the market moves away NinjaTrader will not chase. Only after the market comes down and starts trading at your limit price (touches) and then moves away (you were not filled) does it start chasing.