Entry Order Rejected - Diagnosis and Solutions - MT Easy Trader

Hello,
I am a monthly subscriber to the MT framework. I tried using the auto trade strategy (ATR Volatility Breakout) for the first time and received an error

9/10/2014 9:32 AM Strategy Strategy 'MT ATR Volatility Breakout/152399d4d04046a5896ac24478154a14' submitted an order that generated the following error 'OrderRejected'. Strategy has sent cancel requests, attempted to close the position and terminated itself.
9/10/2014 9:32 AM Order AMP Live, The order type is not allowed for the commodity affected Order: Buy 1 Market

Regards,

Amit

Order rejections by default in NinjaTrader - stop the strategy and cancel all order and positions.

Setting to ignore rejections - you can override the default NT behaviour with the following setting

General Parameter
MT Realtime Error Handling
1. StopStrategyCancelOrdersClosePositions
2. TakeNoAction
Note: Please make sure you are in attendance monitoring live trading - so you can close or cancel... if required etc.

Likely Causes
A. An entry order rejected due to the Market moving so quick an order was rejected
B. A stop or trail tried to move in and the market moved - so it was rejected
C. An order was rejected due to insufficient funds

D. Order Type not supported

Live trade Scenario
If this was a live trade scenario:
your broker will also have a reason why the order was rejected

e.g...Was this a sim account, Demo or live trading account

How many lots are you using?
Is there enough margin in the account?

LOG
You can also look in the NinjaTrader control center log and export to Excel the messages in it -and send over as an attachment so we can see the reason it was rejected.

If you would like us to investigate and suggest what happened and how to avoid - other than setting the order rejection handling please consider the following.

Steps to reproduce
We would need some information to understand what caused it and how to get around it.

Chart
Which instrument was this,
dataseries
Range, Minute etc
Default 24/7 or other session template

Was this caused a fast market spike?
Can you provide a chart screenshot of when it occured?

Settings
Please can you provide the settings you are using for the ATR Volatility Breakout Strategy?

Strategy Template
If possible you can send over the strategy template itself.
Simply right click the strategy parameters > set Default

Then attach and send the strategy template from the following location:

\Documents\NinjaTrader 7\templates\strategy\

Parameters of Note.
Or you can send a series of screenshots in particular we would like to to see

Stops
Trail
Targets

MM Position Size
MT Realtime Error Handling

Please let us know if you require further assistance.

many thanks

John

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums

I was trading on a live account. I called my broker and they said that the order should not have been rejected.
Trading - TF
Acc Margin - 500
Account Funds - 1600

I attached the related log file messages and the strategy template.
Data Series - Range

#1. Diagnosis
The order was rejected by your broker - in the log in your message and error sent which caused NT to close the strategy.

Cause of order rejection
"The order type is not allowed for the commodity affected Order: Buy 1 Market"

#2. Entry Type Support for Instrument
Which instrument was this?
Please ask broker which orders are valid for it and tell them the rejection message.
"9/10/2014 9:32 AM Order AMP Live, The order type is not allowed for the commodity affected Order: Buy 1 Market"

#3 Manual Order Entry Test
The EntryType was a market order - so it looks your strategy tried to enter a market order - got rejected and was closed However its very strange a market order was rejected...
Can you enter with a market order via the Chart Trader?

#4. To prevent the Strategy shutting down again on an order rejection:
General Parameter
MT Realtime Error Handling
1. StopStrategyCancelOrdersClosePositions
2. TakeNoAction
Note: Please make sure you are in attendance monitoring live trading - so you can close or cancel if required etc.

#5 Manual Test with Strategy
You can use the MT Easy Trader to manually place the orders and test with the AutoTrading paused.
Please change the Entry Order Type to a limit and try -
is it rejected?

#6 This info will help us guide you also on order types...
Please tell us about your:
Chart, dataseries
Range, Minute etc
Default 24/7 or other session template

#7 Alternative Order Types
You might try a stop above the market a little bit for example or a limit a little under etc... but first we need to know the above to allow us to go forwards with help from the broker.

Many thanks

Tom

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums

Entry Order Rejected - Diagnosis and Solutions - MT Easy Trader

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