Limit orders filled at different price

[Richard Von]

I am just about to go live and have encountered a disconcerting issue with the SIM DOM window. I have established a trading strategy and then clicked the BUY column to enter a Limit order well above the market. However today these orders are getting filled at the current market price quite far below the limit price. What is going on?

[NinjaTrader_Ray]

What you have described is exactly how a limit order works.

Limit = Filled at limit price or better

If you place a buy limit order above the market, you will instantly be filled around the current market price.

[Richard Von]

Well I'm obviously not good at this. What I wanted to do is have the order filled only when it hit the higher price. How do I do that on a DOM?

Thanks.

[NinjaTrader_Jessica]

Thank you for your post.

If you want to buy when the market goes up to a certain point you may use a buy stop. You have two options: a stop market order (hold control key and press middle mouse button) or a stop limit (middle mouse button).

You can also place stop market orders with just the middle mouse button by setting “Middle mouse button is stop market” to true in the SuperDOM properties.

Please consult this link for more information on placing orders in the SuperDOM:
http://www.ninjatrader-support.com/HelpGuideV6/ManagingOrders.html

[Richard Von]

Thank you.