I just want to make sure I understand a stop limit order correctly.
I am having issues with my entries orders appearing on the chart and filled. There is a delay in when the price gets hit and when the order gets submitted and then filled. I was told earlier that there is a known issue with Rithmic so I downgraded to version 25 to hopefully resolve this.
That being said, when I do get in a trade and my stop loss is placed, if that stop loss gets hit, the order gets executed quickly as I would expect. I am wondering if this is becuase the order was submitted to Rithmic already and is sitting there waiting for the price to hit it.
To over-simplify my NInjascript, I want a buy order to appear 1 tick above the previous bar's High as soon as that previous bar closes and the new bars opens.
I am thinking that the Stop Limit Order is what I should use. I want to order to get filled only if the price moves above the High[1]. The main question is, is the stop limit order being submitted to Rithmic once the previous bar closes or is it staying on the Ninjatrader platform and being sent once the stop price is hit?
Hopefully that question makes sense. I basically want that buy order to be waiting for the price to hit 1 tick above High[1] in the hopes that it will improve my order submission time.
Thank you,
Nick
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