Buy Limit on DOM

[NickF]

Hi,
I've been having a tough time playing with the limit orders. Example: say the S&P is currently at 1172. I want to have a resting limit buy order at 1173, so if price breaks through 1173 I get filled, but if say 1172.75 I'm not filled. Also if i get filled on the 1173, I want to have a stop loss at 1171. How do i do this? Can it be done on the DOm or money management? I tried using the stopLimit on control center, but I don't understand how the stop price work and every order i enter is not accepted.

Thanks,
Nick

[NinjaTrader_RyanM]

Hi NickF,

Thank you for your post.

A buy - limit order above the market will result in an immediate fill. With a limit order you're saying that you want to be filled at the specified price or better. If the market is trading better than that price, then this is why you'll get a fill on that order.

For buy orders above the market you should place Stop or Stop with limit orders.
StopLimit orders are placed with a middle click
Stop orders are placed with Control + Middle Click.
Click here for more information from our online Help Guide on this specific topic (http://www.ninjatrader-support.com/HelpGuideV6/ManagingOrders.html)

You can use ATM to automatically place stop loss and profit target orders once an order is filled.
More information on ATM at this link. (http://www.ninjatrader-support.com/HelpGuideV6/Overview13.html)

[NickF]

I'll give it a shot. Thanks.