Limit Stop Order - What happens under the hood?

[marcusplexus]

Hi,

I have a question regarding the execution of orders outside regular trading hours.

Lets say I usually trade an e-mini S&P futures contract that just closed for the day (4:15pm) at 1000. I have no position on and I want to be short at 990 if the price touches that level during the night session.

At 6pm, I see that price action is trading around 1005. Using Chart Trader I put in a Sell Stop Limit order at 990 and wait to see if my order will be filled during the night session.

My question is this: when using NinjaTrader in Trading Mode (as opposed to Simulation Mode) what is happening under the hood when the order executes for a Stop Limit order? What type of order is sent to my Interactive Brokers TWS console? An equivalent "stop limit" order or a "market" order?

Thanks in advance.

- mp

[NinjaTrader_Kyle]

Hi marcusplexus,

Thanks for your post.

A stop limit order would be sent to your account at IB when this order type is selected.