Documentation of How Different Order Types Trigger

[Jim-Boulder]

I have read the documentation of order types but can not find any written description of the mechanics of the triggering of actual orders themselves--such as for a StopLimit vs. a StopMarket order, etc. (see example below)

Is the following detailed description of a Stop Limit Order (for a Long Entry) correct?

* Enter a long via a Stop Limit Order:

In a EnterLongStopLimit order--once the Stop price is triggered, a long entry order is placed at the limit price....(not a 'market' order)--is this true?

What price action in real time triggers the Stop? (is it a trade at the stop price or when the best bid price reaches this price or something else)?

Can the limit order price be above the current best bid price at the moment it is placed by NT?

What are the restrictions as far as Limit vs Stop price (must one always be above or below the other, etc.)?

More to the real question--where is all of this documented? (the detailed discussion of what triggers the stop, and restrictions etc. -not the description of the code syntax) so I may study it further.

Thanks for any leads where I can study this in detail...

((I am using Zen-Fire if that affects where to go for the answers....))

[NinjaTrader_Brett]

Hello,

Thanks for your note.

Unfortunately this is not documented in NinjaTrader as this is more information on general market behavior. This is information you would get from your broker instead or general market instructional courses.

In a EnterLongStopLimit order--once the Stop price is triggered, a long entry order is placed at the limit price....(not a 'market' order)--is this true?

Yes this is true, the order action the triggers is a last price/.last trade at that stop price. Limit orders can be placed above or below the current market price. However if you place a it may instantly fill depending on what side of the market you are on and if your trying to go long or short.

Let me know if I can be of further assistance.