Buy - BuyToCover

[tonynt]

Hello,

my stops from the scripts are plotted in charttrader with "BuyToCover" (for shorts) and when doing a short with ChartTrader then there is the stop plottted with "Buy".

I thought that both are market orders.

(script: stopOrder1 = ExitShortStop(0, true, 1, execution.Order.AvgFillPrice -10 * TickSize, "Stop", "Short")

Are both market orders?

Thank you.

Tony

[NinjaTrader_JC]

Hello Tony,

The names of the orders are just going to be how they are entered and they are not going to be related if they are a market order or not, it will depend on the context of the order.

So in your script for "ExitShortStop" will send a market order yes, but it will be named "BuyToCover" because you are in short position and you are "Buy"ing contracts to "Cover" your position towards a "Flat" state.

The "Buy" name on Chart trader just means that you placed a "Buy" order, it can be a "Market", "Limit", "Stop Limit", or "Stop Market" order. You would have to look in your Orders tab or your Account Performance tab to see what type of order it was.

Happy to be of further assistance.