Pros and cons for Stop-Market Versus submit Market Order when the price is reached

[efeuvejota01]

Good morning:
in an AddOn.
I was wondering the difference to create and submit a Stop Market order versus create the price verification each tick and when the price is reached create and submit the market order.
is there something I am not being aware??
Thank you!!!

[NinjaTrader_PaulH]

Hello efeuvejota01,

Thanks for your post.

I was wondering the difference to create and submit a Stop Market order versus create the price verification each tick and when the price is reached create and submit the market order.

This would be functionally the same.

The difference would be that the StopMarket order requires less coding, the stop market order would be at the exchange in advance of the price reaching the level so it would not need to be transmitted when the price crossed the level so presumably, you would get a quicker exit based on internet travel time.

If you had your NinjaTrader on a colocated server at the exchange then there would be even less difference.

[efeuvejota01]

Thank you Paul!!!