Differences among several order types

[mybzi]

Hi,
I'm a new user of NT7, and just spent two days in finishing long pages User Guide, have to say, it's really a professional platform and a profession team!!!

But I encounter some problems during self-study, can anyone pls help out with following questions about order types? I'm really confused by so many different order types in NT7, in other software which I used before,the most frequently used types is: STOP, LIMIT, MARKET.

Q1: What is the difference between STOP order and STOP LIMIT order?

Q2: Is negative STOP LIMIT order only applicable for simulated orders? Besides, what's the purpose of it?

Q3:In section of "Submit order with quick buttons", it mentioned submitting Buy LIMIT Order at current Ask/Bid price. But in my opinion all buy limit order should be placed below current price, surely below current Ask/Bid price, then how can it be realized in NT7?

Q4: When submitting market order, it has probabilities to submit Buy Market Order at best Ask/Bid price, but, shouldn't Buy Market Order placed at current Ask price???

Thanks in advance!

[NinjaTrader_Kyle]

Hello,

Thank you for your note.

In terms of questions 1 & 2:
Definitions for each of these standard order types is not something we include in our own documentation. A good third-party source for this type of general trading information is Investopedia: http://www.investopedia.com/

Stop Limit: http://www.investopedia.com/terms/s/stop-limitorder.asp
Stop Market: http://www.investopedia.com/universi...top-orders.asp

In terms of questions 3 and 4, I'm not totally sure what you're asking about. Could you please elaborate on these questions and clarify if possible?