The current price is outside the price limits set for this product

Initial Steps

The error message "please check the order price… current price is outside the price limits..." indicates that an order was submitted at a price outside of the acceptable range set by the exchange. This can occur for a variety of reasons:

• Order Price Too Far from Market Price: Exchanges enforce a price range, known as order bands, above and below the current market price. If an order is submitted outside of this range, it will be rejected. This is to ensure orders are placed within a reasonable range. To resolve this, make sure your order is submitted closer to the current market price.
• Incorrect Decimal Placement: A common issue is the omission of a decimal point in the order submission price. For example, entering "415025" instead of "4150.25" will result in a price outside of the acceptable range and an order rejection.
• Incorrect Parameter Type: Using "Price" for an ATM Strategy parameter when "Currency" is intended may cause the order to be rejected. For example, a Stop Loss set to a "Price" of 20 will submit an order at $20, while a "Currency" of 20 would submit an order $20 away from your entry price.
• Stop Order Placed on Wrong Side of Market: A buy stop order must be placed above the current market price, and a sell stop order must be placed below the current market price. Placing a stop order on the wrong side of the market will cause the order to be rejected. This can happen when a stop order is submitted or modified within a few ticks of the market price because the market can move too quickly for the stop to be copied.
• Hedge Feature with Negative Ratio: When using the Replikanto hedge feature with a follower Ratio value of -1, an order submitted to the leader account close to the bid/ask price may be copied to the followers on the wrong side of the market, causing it to be rejected. To mitigate this, consider using a market order to open your position and using profit targets (TP) and stop losses (SL) a little distanced from the bid/ask price, particularly during high volatility periods. The ATM Copy feature is recommended for this type of setup.

To avoid these rejections:

• Check your order price: Double-check that your order price is within the current market range and includes the correct decimal points.
• Review exchange price limits: Consult the exchange website to confirm the current price limits for the contract you are trading.
• Adjust your order price: Modify your order price to fall within the acceptable range.

Extra Steps

If the issue with the "order price outside bands" error persists, it may be necessary to contact your broker, especially if you are using a live account. Here's a breakdown of when and why you might need to do so:

• Verify Account Position: If you receive the error, and it is a live account, first contact your account provider's emergency trade desk to ensure that the open position is successfully closed. The NinjaTrader Emergency Trade Desk can be reached at orders@ninjatrader.com, or you should contact your account provider directly for any other broker, evaluation, or prop firm accounts.

In summary, if you've tried all the troubleshooting steps, and the error continues, contacting your broker is necessary. They can provide specific guidance related to your account, order executions, and any technical issues that may be occurring.