I have a question regarding supported order types and where orders reside. In the sticky thread "Where does my order reside?" I read that with Zenfire a not supported order type for a given exchange will reside on the Zenfire servers and be sent to the exchange when the right moment has come.
I will try to give an example, so please tell me if I got this right:
A Stop-Loss order at NYBOT (ICE) is not natively supported by the exchange. So when I want to place some kind of protection I normally would have to place a supported Stop-Limit order (which could be potentially unsafe). But when I place a Stop-Loss order with NinjaTrader along with Zenfire, it will reside on the Zenfire servers and become a Market order when the given price has been reached and will automatically be send to the exchange.
Is this correct? Or is there a mistake in my thinking?
Thanks a lot for clearing things up for me,
Greetings from Germany,
Oliver
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