Bid/Ask fill price in Simulated Trading

[newbietrader]

Hi, I am new to the Ninja Trader platform. I am trying to use Simulated Trading to develop realistic trading strategies.

When I submit an order in simulated trading, can my order be filled on the market bid/ask price depending on my buy/sell future contracts? For example, if I submit an order to buy 1 silver futures contract @ $26.450, I would like to see my order fill only when the silver market ask price is @ $26.450. I do not want my order to be filled at the market last sold price. Is this possible?

Thanks in advance,
Tony

[NinjaTrader_Chip]

Hello newbietrader,

Welcome to the NinjaTrader Support Forums!

I believe what you are describing is a Limit Order. If you placed a limit order to buy at 26.450 then you would receive a fill at that price or better if it was offered there.

Please let me know if you have any additional questions or if I have misunderstood your question.

Thank you,

[newbietrader]

Hi Chip,

So in Simulated Trading, regardless if I submit a Market or Limit Buy order, the NinjaTrader software will only fill my order when the market "Ask" price touches my order price? The "Ask" price is not necessary the "Last Closed" price.

Thanks for your help,

[NinjaTrader_Chip]

Hello

To clarify if you place a market buy order (simulated data or Live) then your order should be filled at the current best “ask” price – depending on where your order is in the queue.

If you place a limit buy order; e.g. 26.450 then the offer price will have to be at 26.450 or better. You can also have a seller come in & “hit” your bid.

The Closing price is something very different and will not impact where your orders are filled intraday.

Please let me know if you have any additional questions.

[Trevon]

A bid refers to a price offered for a product to a customer or business, or making an offer in an auction. In either case there is a need for a bid manager to organize the procurement as on behalf of an organization or privately owned company. Usually a bid manager is accountable for internal affairs like the implementation of sales purchasing activities and the continual enhancement of ‘buying power'.
These managers are the trouble savers of the purchasing sector, and they are often named as 'bid project managers'. This is for the reason that occasionally they are hired to supervise certain project for the construction industry, and this is done on a contract basis instead of functioning directly for a firm.