ATM Stop Loss (Stop Limit or Market order)

[higler]

When I submit an order (NT 6.5 and Zen-Fire) with an ATM stop loss, the NT Orders Tab lists it as a Stop Limit order. With NQ it sets the limit 5 points away from the stop which is fine as long as the market doesn't gap past the limit price. On other NT threads I've read that the stop loss are submitted as market orders. I am really confused about how the NT/Zen-Fire ATM stop loss orders are handled. Can someone please explain this to me? Thanks.

[NinjaTrader_ChristopherJ]

Hello higler,

Thank you for your post.

Stop Loss orders are set to Limit by default. You may however change this to a Market Order by right mouse clicking within your SuperDOM-->Properties-->Use stop market for stop loss orders-->Set to True-->Click Ok.

I have provided a link below to our Help Guide that goes over SuperDOM Properties.

http://www.ninjatrader-support.com/HelpGuideV6/Properties.html

Please let me know if I may be of further assistance.

[higler]

ChristopherJ - Thanks. I looked under that setting (NT 6.5 in the SuperDom properties box) and it says that property is ignored for Globex (where stop limit is used). NQ trades on Globex. Is stop limit therefore required with Globex? That seems to contradict the link that you provided. Thanks.

[NinjaTrader_Kyle]

Hello higler,

Thank you for your reply.

Yes, that would be the case.

[higler]

NT 6 Help guide:
"Use stop market for stop loss orders:
When true, a stop market order will be submitted for automatic submission of stop loss orders are part of a position strategy. By default, when selecting any instruments that trade on Eurex, CBOT and CME this setting is set to true."

SuperDom Properties Box:
"This property is ignored for ... and Globex where stop limit is used."

These two statements seem contradictory to me. Thanks.

[NinjaTrader_Kyle]

Hi higler,

Thank you for your reply.

This only means that instruments on Globex will use stop limit orders regardless of what the 'Use Stop Market...' property is set to.