IdealPro Stop Limit entry orders / Chart Trader

[jtrade]

Two newly-back-to-NT questions, please (I am using Chart Trader) :

1. Chart Trader Properties > Stop Limit Offset > set to 4 ... this mean four halfpips or four fullpips (I am assuming it would mean the min move, so 4 halfpips)?

2. With EC and BP futures, I set the stop and limit price with zero offset and I am almost always filled. I am finding with IdealPro that this is not the case, and price trades through more often, especially with GBPJPY and EURJPY, two of the four pairs I primarily trade (the other two being GBPUSD + EURUSD). Does anyone trading these pairs have a suggestion as to suitable limit offsets, please ? I appreciate it will be greater for the JPY pairs due to less liquidity. I am going to try 4 full pips for GBPJPY (as the spread is usually 2 - 4 pips) & 1 pip for EURUSD.

J.

[NinjaTrader_Jason]

Hello jtrade,

1. This depends on the ticksize the instrument is using. If you trade forex your assumption is correct. Forex instruments are quoted in HalfPips when you set "Quote currencies (FX) in:" in "HalfPip" as per the connection guide below.

http://www.ninjatrader.com/webnew/support_interactivebrokers.htm

2. Unfortunately, I do not trade these pairs.

[jtrade]

Thanks from your prompt response, Jason.

I will experiment with a suitable offset - my guess is that the usual max spread of the particular pair will do the job.

J.