Buy Stop Market Example
Order Type - Buy Stop Market
Stop Price - 1000
Volume Trigger - 500
This example will trigger once the market trades at a price of 1000 and the ask volume is less than 500 contracts. Once triggered, a market order is submitted. If this was a sell order, the bid volume would be monitored.
Buy Stop Limit Example
Order Type - Buy Stop Limit
Stop Price - 1000
Limit Price - 1001
Volume Trigger - 500000
This example will trigger once the market trades at a price of 1000 and the ask volume is less than 500000 contracts. The Volume Trigger is set to a ridiculous high number because the intent is for the order to trigger right away. Once triggered, a limit order is submitted to buy at a price of 1001 or better. If this was a sell order, the bid volume would be monitored.
Sell Stop with Improved Limit Price Example
Order Type - Sell Stop Limit
Stop Price - 999
Limit Price - 1000
Volume Trigger - 600
This example will trigger once the market trades at a price of 999 and the bid volume is less than 600 contracts. The interesting thing about this set up is that what we are doing is triggering a limit order at a higher price in order to try and get a better fill. This order strategy is not possible with standard order types and can only be done using NinjaTrader SS technology. Once triggered, a limit order is submitted to sell at a price of 1000 or better. If this was a buy order, the ask volume would be monitored.
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