A very simple order entry question

[Cryptontrader]

Hello: It may seem naive, but how can I place an order using the order entry window? Here's what I intend to do.
Example: Let's suppose the market price at this moment is 3350.00.
How can I place an order entry (market order to buy) at 3360?

[NinjaTrader_Manfred]

Hello Cryptontrader,

Thank you very much for your post!

To place a buy market order at a price above the current market price, please first select the order type (Stop Market), then enter the value you would like to submit it at in the "Stop" field, before clicking the "Buy" button:



By selecting Stop Market first, you ensure that only the field becomes editable that would apply to this order.

Please don't hesitate to let me know, should you have any further questions!

[Cryptontrader]

Thanks for the quick response. Makes sense! However, is there a way that I can put a stop loss below the current market price (as the stop market order doesn't allow me to do that)? Here is what I am trying to achieve.
Let's suppose the market price at this moment is 3350.00.
I want to open the trade at the market (best price) if the price reaches 3360.
I want to place a stop loss at 3340 (below the current market price) when my trade opens at 3360.
HOW DO I ACHIEVE THIS?

[NinjaTrader_Manfred]

Hello Cryptontrader,

Thank you very much for your reply.

If you would like to place a market order under the current market price, I would suggest using an MIT order instead. MIT (market-if-touched) orders behave like locally-simulated orders until the price is touched, at which point they turn into a market order.

For more information about MIT orders, please see our blog entry below:

https://ninjatrader.com/blog/hide-orders-from-the-market-using-market-if-touched-orders-mit/

Please don't hesitate to let me know, should you have any further questions!