What is the best type of order entry

[ballboy11]

What is Better EnterLongStopMarket or EnterLongMIT?

What is Tradeoff

[NinjaTrader_Jim]

Hello ballboy11,

Thanks for your question.

A Market If Touched order is similar to a Limit order except that the order will fill like a market order if the price is touched or if the market price is better than the Market If Touched order's price. The Market If Touched order also will not reside on an exchange and would reside on your platform, or on your broker's order routing servers if your broker supports the order natively. Interactive Brokers and Rithmic based connections support these orders natively while MIT orders will reside on your PC for other connections.

For a long entry, we could submit a Market If Touched order below the current market price, and we could submit a Stop Market order above the current market price.

More information on MIT orders can be found here - https://ninjatrader.com/blog/hide-or...ed-orders-mit/

We look forward to assisting.

[ballboy11]

Understood. Last question I have for you.
Is EnterLongStopLimit a price above the CurrentCande?

[NinjaTrader_Jim]

Hello ballboy11,

Yes, EnterLongStopLimit orders should be placed above the market. The Limit price must also be greater than the stop price for Buy Stop Limit orders

We look forward to assisting.