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NinjaTrader Brokerage Services (www.ninjatraderbrokerage.com)

  #679 (permalink)

United Kingdom
 
Trading Experience: Intermediate
Platform: Sierra
Favorite Futures: YM,NQ
 
Chewy71's Avatar
 
Posts: 12 since Feb 2011
Thanks: 10 given, 3 received


trendwaves View Post
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.

Thankyou for your reply

I believe there is more to it as have experienced regular slippage on these orders. Possibly due to the differences in the "trigger Price" and "limit Price"

*edit* Balanar was correct. There is indeed a stop limit offset setting in chart trader properties. Without this checked it must default to 20 i guess.


Last edited by Chewy71; February 9th, 2017 at 06:01 AM.
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