Question About MIT Order Fill Logic

[GLFX005]

Hello.

I was just wondering, does an MIT order fill only if the Last price touches the order or also if the Last price jumps over the Order and exceeds it?

Also I wrote another comment in this thread in case it hasn't been seen yet: https://ninjatrader.com/support/foru...r-values-saved

[NinjaTrader_Kate]

Hello GLFX005,

Thank you for your reply.

If the price jumps and the MIT order would now be on the wrong side of the market, a market order will immediately be triggered at the current market price.

As for your other thread, it looks like you've been working with my colleague Jesse on that, who should be responding to that as soon as he is able.

Please let us know if we may be of further assistance to you.

[GLFX005]

Hello Kate, thank you for your reply.

Does the same apply for Stop-Market Orders? I imagine that in a Short position I would have to use a Buy Stop-Market as the SL and a Buy MIT as the TP?

[NinjaTrader_Kate]

Hello GLFX005,

Thank you for your reply.

Pretty much, yes. While similar to a stop order, MIT orders have an inverse buy or sell action compared to stop orders. For example, a buy MIT order looks for the price of an asset to fall and when touched submits a market order, while a buy stop order becomes a market order when the market value of the security increases past the specified level (as long as the price is now above the buy stop level, a market order goes in whether the price was actually touched or not). So yes, you could use a buy stop market as your stop loss and a buy MIT as your profit target for a short position.

Please let us know if we may be of further assistance to you.