I had a general question about Ninjatrader. The broker I am currently going with provides a free Ninjatrader key for use with live trading. However the free key does not allow the use of atm strategies including stop loss.

My basic question is, rather then using a stop loss to protect big losses from occurring, is it not the same thing if I just put a sell or buy limit after my trade?

Example : If I go long on a CL trade at 80.25, Will it be the same as a stop loss if I just put a Sell Limit at $80.10 selling my position if it drops 15 cents? or would it open a new position all together for a sell and keep the long position open?

I have tried it on a demo account and it does indeed close the long position, but I just want to make sure 100% since I have not tried it on a live account.

Thanks in advance.

DannyG 

I had a general question about Ninjatrader. The broker I am currently going with provides a free Ninjatrader key for use with live trading. However the free key does not allow the use of atm strategies including stop loss. My basic question is, rather then using a stop loss to protect big losses from occurring, is it not the same thing if I just put a sell or buy limit after my trade? Example : If I go long on a CL trade at 80.25, Will it be the same as a stop loss if I just put a Sell Limit at $80.10 selling my position if it drops 15 cents? or would it open a new position all together for a sell and keep the long position open? I have tried it on a demo account and it does indeed close the long position, but I just want to make sure 100% since I have not tried it on a live account. Thanks in advance.

If you go long, you want to put in a sell stop. I don't think you want a sell stop limit because you might not get filled. If you have a sell stop, if the price hits that it gets you out. It is the same as a stop loss order.

Sorry I had my terms mixed up. I am using Sell Stop or Buy Stop not limit.

DannyG 

Sorry I had my terms mixed up. I am using Sell Stop or Buy Stop not limit.

Okay, then you are correct by what you said earlier.

Enter with limit orders, exit with market stops or limit targets.

When cutting a loss, you want out NOW!

DannyG 

I had a general question about Ninjatrader. The broker I am currently going with provides a free Ninjatrader key for use with live trading. However the free key does not allow the use of atm strategies including stop loss. My basic question is, rather then using a stop loss to protect big losses from occurring, is it not the same thing if I just put a sell or buy limit after my trade? Example : If I go long on a CL trade at 80.25, Will it be the same as a stop loss if I just put a Sell Limit at $80.10 selling my position if it drops 15 cents? or would it open a new position all together for a sell and keep the long position open? I have tried it on a demo account and it does indeed close the long position, but I just want to make sure 100% since I have not tried it on a live account. Thanks in advance.