ATM. Is it possible to create a strat using a MIT exit that has a limited fill Price

[pslevin]

In other words. If I create an ATM strategy using a MIT profit target on the exit, is there a way to force the platform to realize that it is a Market Order if touched, yet not take less than 1 tick (for example) below the MIT exit Price (if Long. The opposite if Short).

Thank you.

[NinjaTrader_Clayton]

Hello pslevin,

Thank you for the message.

No, it is not possible to do this with a MIT order.

• Once it is touched, it is turned into a Market order that will fill as soon as possible without any regard to what price the market is trading at.

You are fundamentally describing a Stop Limit order with a 1 Tick offset.

• A Buy Stop Limit order would be placed above the Last Traded Price
• A Sell Stop Limit order would be placed below the Last Traded Price

Otherwise, you would have to use a Limit order which would only fill at the Limit price or Better.

Finally, you could look into creating an automated NinjaScript Stategy that would allow you to place a limit order 1 tick below your desired Target price.


Please let us know if we may provide any further assistance.

[pslevin]

Thank you, Clayton.