In chart trader properties it shows "Stop Loss" and "Stop Market Order"....what is the difference?
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Hello StevenNelson,
Thank you for your note.
A Stop Loss is a value that determines the Stop Loss price or price that the order will exit the position. For example, if the Stop Loss value is set to 4 (ticks) and your average entry for the initiating order is 1000 and you are long, your Stop Loss would be submitted at AvgEntry - Stop Loss = 1000 - 4 ticks = stop price of 999. This assumes each tick is valued at 0.25.
A Stop Market order is executed at the best possible price obtainable at the time and not a specified value.
Please do not hesitate to contact us for any other NinjaTrader inquiries you may have.
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