How do I place a sell limit order (shorting under market)

[Cnixon300]

I am looking to have a sell limit order under current market bid/ask prices, and rather than to trigger a market order. I would like to add liquidity vs removing it and either have it trigger to sell on ask or 1 penny above bid. How do I go about doing that. And of course vise versa for longs. Thanks

[NinjaTrader_EricB]

Hello Cnixon300,

Thank you for post, glad to assist. Order types can vary depeding on the window they are submitted from. What order entry method window is in use (SuperDOM, Chart Trader, ect.)?

We look forward to assisting further.

[Cnixon300]

Chart trader if possible.

[NinjaTrader_EricB]

Thank you for your reply.

The Chart Trader toolbar Sell Ask/Bid buttons will submit limit orders are the current bid/ask. Otherwise stop limit or stop market orders can be submitted via right click on the chart at the corresponding price. See the below section of our help guide for more on submitting orders via chart trader.

https://ninjatrader.com/support/help...ng_orders4.htm

Let us know if we may assist further.

[Cnixon300]

The way a sell limit order works currently is it sells at the bid price (market,removing liquidity) I would rather it place my sell order on the ASK, or say 1 cent above bid, not on the bid (market). I would rather add liquidity to the market and wait to get filled rather than placing a market order, assuming that is possible. Obviously vise versa for longs.

[NinjaTrader_JamesG]

Hello Cnixon,
Setting a stop limit order will define the price at which you want the order to trigger, and the limit price will allow you to set a limit on the price at which you would want to be filled.

Once the order is triggered, the Bid/Ask will contribute to determining whether or not the order is filled. Since we are referring to a sell order here, it will be filled once the bid is equal to the stop limit price.

If you are looking to place an order at the ask once a certain price level is reached, this is something that would require a custom strategy to implement

Please feel free to contact us with any further questions.

[Cnixon300]

I was assuming/hoping that there would be a way for me to place the order with some sort of offset say 1 tick higher for shorts to avoid the bid (market) and for longs to do one tick lower to avoid the ask (market). Maybe something for future versions. I know IB has an option for splitting the bid ask spread.

[NinjaTrader_JamesG]

Hello Cnixon300,

Thank you for the suggestion.

I would like to apologize as I originally sent this as a feature request and after talking it over with my leads they do not feel it is.

Your request:
'I was assuming/hoping that there would be a way for me to place the order with some sort of offset say 1 tick higher for shorts to avoid the bid (market) and for longs to do one tick lower to avoid the ask (market)'

Buy orders get filled at the ask and sell orders get filled at the bid. Technically, it's possible to rest a buy order at the bid or a sell order at the ask, but ultimately, these orders must each still fill at the ask price or the bid price, respectively. The Sell Stop order may be placed where you would like it but to fill it would have to be touched by the bid.

If this does not address your inquiry fully, please provide further details so I can assist you further.