Limit Order

[symphys]

I don't really get it?!?!

I want to create a Long Limit Order in the SuperDOM lets say at 1000. I left click on 1000 while the rate is 990. But then the order is filled suddenly even if the rate is like 992. The depth of market has not reached the 1000.
I don't want to submit a market order...

What is wrong here?

[NinjaTrader_Jason]

Hello symphys,

This is as expected, since the limit order will execute at the price of the market, since this is the better price.

You would need to submit a stop market or stop limit order in such a situation if you like the order to execute at 1000.

[symphys]

Thanks! I think I get it.

Just a quick follow-up question:
The only difference between stop market (STP) and stop limit order (SLM) are the ticks at which the SLM will be filled. Right?
So STP will be filled at 1000, while SLM will be filled at 1000-1002 if I put 2 in the box before adding the order?

[NinjaTrader_Jason]

That is correct. Stop limit orders can use an offset, while stop maket orders do not.

However you can experience slippage with stop market orders, so it does not necessarily execute at 1000.