Iceberg Entry Orders

An Iceberg order executes a large volume order by breaking it into smaller disclosed orders.  The full order quantity is hidden from the market.  When an Iceberg order is submitted, disclosed orders are sent automatically.  As one disclosed order is filled, the next one is immediately sent, and this process continues until the entire Iceberg order is filled.

In this screenshot above, we will review a practical application.  The Iceberg Entry Orders module is configured to create a position with 40 contracts – orders will be submitted for 5 contracts at a time with a 40% variance (3-7 contracts).  The Iceberg Entry Orders module for NinjaTrader is unrivaled in ability to efficiently submit trades with big size. The Iceberg Entry Orders Module can be configured through the settings below.

• Big Quantity – the total amount of contracts for the complete Iceberg order.
• Display Quantity – sets the quantity for disclosed orders that are visible in the market.
• Variance (%) – sets the percentage (0-100) by which to vary the display quantity.
• Display Order Type – set the order type that is visible in the market – Market, Limit, or Stop.

When Display Order Type is set to Limit or Stop, another set of features is introduced:

• Order Offset Trailing – when enabled, Limit or Stop order will trail with the market until filled.
• Order Offset (Ticks) – the number of ticks configured with Order Offset Trailing functionality.
• In Profit Action – how to handle Limit orders that aren’t filled – either cancel or fill at market.