Stop Limit Offset in hotkey options set to Zero - what does this mean?

[LenovoX1E]

Hello,

I am aware that SLM orders (when using the middle mouse click on the SuperDOM) require an offset (how many ticks between Stop and Limit allowed) before its placed on the DOM.

I also changed the offset in the options to an integer (1) so that I can have a one-click middle mouse SLM order on the DOM, so it allows a 1 tick range on SLM orders.

I've recently tried using the keyboard hotkeys to place SLM orders, and I noticed there is an offset option there. If it's set to 0, does this mean the Stop order becomes a Limit order @ exactly where the SLM was placed? So no range at all is accepted?

So if the ES is at 3000 and I place a SLM at 3000.25, if price trades up through 3000.25 my order becomes a LMT order at 3000.25 or better (lower) ?

[NinjaTrader_Manfred]

Hello LenovoX1E,

Thank you very much for your post.

Regardless of the offset, the Stop Limit order would always behave identically. In short:

• Once the Stop Price is reached, the Stop Limit order turns into a Limit Order
• The Limit Order will then fill at the Limit Price or further in your favor

The biggest difference between submitting a Stop Limit order with an offset of 0 would be that it doesn't catch a 'free fall', so to speak. E.g. if the market drops rapidly there might be no available quantity at the Limit Price by the time the identical Stop Price is touched, which would then keep it from filling.

Having an offset of several ticks will create a 'buffer' that makes it more likely the Stop Limit order will receive a fill at the requested price.

Should you have any further questions, please don't hesitate to let me know!