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  #678 (permalink)

Trading Experience: Advanced
Platform: NinjaTrader 8
Favorite Futures: ES, CL
trendwaves's Avatar
Posts: 697 since Dec 2012
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Chewy71 View Post
I use stop limit and limit.

The word from Ninja trading/order team is that a 'stop limit' does not sit on the order book and can get slipped up to 20 ticks in my case. He didn't know how to change or if i could change the 20 tick limit and pointed me to platform support email.

Is this now correct that my stop limit is not really a limit order as such but an order with a 20 tick slippage attached to it and if i'm really unlucky and the price blows through my 20 tick limit i wont get filled?? Doesn't sound right..

You are confusing a Stop Market order with a Stop Limit order. What you just described above is how a Stop Market order behaves. With a Stop Market order the potential for slippage is unlimited, certainly not limited to just 20 ticks, it could be 40 ticks or 100 ticks. You are assured a fill, but are not assured of the fill price.

A Stop Limit order will place a Limit order into the order book at the Limit Price specified when the Stop price is touched. In some cases price can move past the limit order before it is filled in which case the limit order will be left in the order book. In this case you are assured the order, if executed, will fill at the limit price or better, but are not assured the order will ever be executed or filled.

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