How to always send Stop Market order as stop loss order

[clearpicks]

Hello,

I found out that with the same ATM strategy (100 tick target and 10 tick stop loss), if I trade YM M8 on charttrader, the stop loss order is sent out as Stop Limit while if I trade $EURUSD, the stop loss order is sent out as Stop Market order. How can I enforce all stop loss orders are sent out as Stop Market orders? I am using NT 6.5 and InteractiveBrokers.

- Clearpicks

[NinjaTraderEcosystem_Ryan]

Hi Clearpicks:

Thank you for posting.

Unfortunately, you cannot submit stop loss orders for the YM as stop market orders. This is exchange specific and the exchange (Globex) where the YM is traded only submits stop limit orders for your stop loss.

For your forex instruments, they are submitted as stop market orders.

Enjoy your day and happy trading.

[clearpicks]

I am able to submit Stop Market orders for YM in IB TWS. I know it is simulated by Interactivebrokers on IB server. Since NinjaTrader trades through Interactivebrokers TWS instead of sending orders directly to ECBOT, in the future can NT support those simulated order types provided by IB TWS? Although NT substracts 20 ticks from stop price as the limit price in the stop loss order, however I would prefer using the simulated stop market order type to guarantee at any circumstance the stop loss order would be executed.


- Clearpicks

[NinjaTrader_Ray]

Will consider this for the future.

[NinjaJorge]

Yes, please, this would be a really good enhancement, particularly for volatile times (news announcements, overnight gaps, etc.)

Jorge

[jrs]

Same thing here. I was in YM long at 8:30 this morning (7/16/08) and the bar closed at 10956, the very next 1 minute bar opened at 10905 and my stop (10 tick) did not fill for the contracts I had open. Apparently the 20 tick stop limit order was not even close to the 51 ticks that it gapped down.

I realize that the stop market I put in was in reality a stop limit order, however, I really believe this needs to be updated.