Stop Loss vs Stop Market Order

[StevenNelson]

In chart trader properties it shows "Stop Loss" and "Stop Market Order"....what is the difference?

[NinjaTrader_ShawnB]

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.


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