Order Managment

[johnchandler32]

Aloha,

I am hoping someone has a quick and easy answer for my situation.

I usually trade two or more strategies per instrument. With each strategy shooting a Market Order, Stop loss order, and a profit point order all at once.

My problem is that when strategy "A" triggers an order and the market order is filled i also have the stop loss and Profit point orders sitting (which is ok)

The real issue is when Stragety "B" triggers an offsetting order to straegty "A", and now my postion is zero or flat, but i still have 2 stoploss orders (one each from straegty A & B) and 2 profit point orders sitting in the market. With my overall position being flat i no longer need a stop loss or Profit point order.

Ex:

StrategyA = Buy ABC@ 123 Stop loss -4 ticks Profit point +6 ticks
StrategyB = Sell ABC@ 124 Stop loss -4 ticks Profit point +6 ticks

Now my over all position for ABC is Zero. But i still have the 2 Stop loss orders sitting in the market as well as 2 profit point orders.

Is there anyway for the stop loss and profit point triggers to realize that the overall position is flat and to cancel itself?

Hopefully there is a solution within the Strategy wizard.

Thanks in Advance,
JC

[NinjaTrader_RyanM1]

Hi JC,

Strategies cannot cross-communicate. They operate independently from each other and the account position. Likely the solution for you is to integrate both of your strategies into one. What advantages do you currently have running two separate strategies in the same market?