STP and SLM orders

[bagzi]

Can someone explain or point me where can i read whats the difference between these two orders?

Thanks

[NinjaTrader_Matthew]

Hello bagzi,

Thank you for your post.

You can read about these types of orders from our SuperDOM Help Guide section on Submitting Orders:

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?sub.htm

If you would like a more in depth explanation of Stop Market and Stop Limit orders, you can find this information on 3rd party educational resources such as http://www.investopedia.com

[bagzi]

Ok, so in short, can u just confirm, SLM is Stop Market and STP is Stop Limit?

[NinjaTrader_VinceB]

Yes, you are correct in understanding.

See here for more info:

http://www.ninjatrader.com/support/helpGuides/nt7/order_display.htm

Check under the section 'Understanding how orders are displayed'.

[bagzi]

Hm, on that link says the other way around. So STP is Market and SLM is Limit?

[NinjaTrader_Matthew]

bagzi,

To clarify - STP stands for stop Market and SLM stands for Stop Limit.

[jeremiah]

Is it possible to use a stop market for entering a position rather than a stop limit entry into a trade? When I middle click on the DOM to go long above the market (or to go short below the market) I can only generate an SLM order and that could result in missing the trade. Is there a way to stop into a new trade with a true stop order (STP) rather than a stop limit (SLM)? Thanks.

[NinjaTrader_Jason]

Hello jeremiah,

Yes, please hold the Ctrl key and then use a middle click to submit a stop market order.

You can also submit by only a middle click as follows. Please right click in the SuperDOM and select 'Properties'. Set 'Middle mouse button is stop market' to True and click OK.

[Sergio66]

Hello jeremiah,

Yes, please hold the Ctrl key and then use a middle click to submit a stop market order.

You can also submit by only a middle click as follows. Please right click in the SuperDOM and select 'Properties'. Set 'Middle mouse button is stop market' to True and click OK.

It's much better to place always Stop market orders as stop loss
In case of market crash a Stop Limit order could not be filled due to fast market condition

[laocoon]

Is there a way to submit a SLM order with the left mouse button instead of the middle mouse button?

Thanks

[NinjaTrader_Jason]

Unfortunately this is not possible.

[laocoon]

It would be great if this feature could be included in a future version. Namely, to be able to assign any order type to any mouse button.

[NinjaTrader_Jason]

I will forward your suggestion. Thank you for your feedback.

[koganam]

It would be great if this feature could be included in a future version. Namely, to be able to assign any order type to any mouse button.

Depends on what mouse you are using. For certain, Logitech and Microsoft mouse software allow you to assign mouse buttons on an application basis. There may be other manufacturers who do the same, but I am not aware of them.

[NinjaTrader_Jason]

The suggestion has been added to the list and is assigned to ID# 2767.