Getting out with Market order

[cocopod]

Hi All,

I want to be able to get out of a position -at whatever the costs. I therefore use OrderType.market as below. What then is the use of stopPrice and limitPrice?


************** CODE 1 **************
stopUrgent = SubmitOrder(0, OrderAction.SellShort, OrderType.Market, J, limitPrice -1 * TickSize, stopPrice -1 * TickSize, "", "Get out!!");

************** END OF CODE 1 **************




In addition i wish to enter the market but with with a limit so that I don't get any extreme fills. Should I be using OrderType.Stop or stopLimit? Please see code 2 below.

************** CODE 2 **************

longOrder = SubmitOrder(0, OrderAction.Buy, OrderType.Stop, 1, tickPrice +1 * TickSize, tickPrice +1 * TickSize, String.Format("Gold" + qty), "Long " + J + " " + tickPrice);


************** END OF CODE 2 **************

[NinjaTrader_Bertrand]

cocopod, for the market order just set the unneeded stop and limit price parameters to 0.

The stop order would be a stop market order, so you cannot limit the fill range - that would be done via a StopLimit order, albeit here you risk not getting filled.