Question on OrderActions

[jakjak74]

Hi
this is probably a dummy question, but suppose I want to send 2 limit orders to buy and sell but I don't know which one will be executed first. Basically one is the entry and the other one the exit but we don't know yet which is which.

If the names are irrelevant then I send directly one Buy Limit and One SellShort Limit and don't care about which one is executed first. That would mean SellShort is equivalent to a Sell when I am Long. And Buy is equivalent to BuyToCover when I am short.I hope that is the case.

However if the name are relevant (for whom? NT or Broker?), then I need to detect which one is executed first, cancel the other one and send the adequate exit order.

For example if ShortSell is executed first, I cancel the buy and send a BuyToCover. Hence I will have to use OCO orders.

Thanks in advance for your answer

[NinjaTrader_Jason]

Hello jakjak74,

Yes, if your buy limit order executes first, the sell limit would close your long position when it executes (and vice versa). The name is irrelevant.