Buy stop and Sell Stop in the same strategy

[kjackson]

I would like to create a strategy that sets both a buy-stop and a sell-stop at different prices, and then once one is filled, have it automatically cancel the other. Is this possible to do?

Thanks in advance,

Ken

[NinjaTrader_Jason]

Hello Ken,

You can accomplish a breakout/breakdown approach by:

• Right click in the SuperDOM and select the menu "OCO Order" to enable this function
• For your first order, select the desired option from the "ATM Strategy" drop down list
• Submit your stop order to buy above the market
• For your second order, select the desired option from the "ATM Strategy" drop down list
• Submit your stop order to sell below the market
• CRITICAL Right click in the SuperDOM and select the menu "OCO Order" to disable this function

For a market fade approach just subsitute limit orders for stop orders. This entry technique is demonstrated in our free ATM Level I training class that we hold several times per week. You can find a complete schedule of all upcoming events at the link below.

http://www.ninjatrader.com/webnew/trading_online_events.htm

[kjackson]

Thank you Jason for the quick reply!

I'm a bit confused, is there no way to set this through a strategy that I can enable through the charts? I would like my single strategy to set both the buy and sell stop orders as opposed to me having to manually intervene. Is it the case that it can only be done using SuperDOM?

Ken

[NinjaTrader_Jason]

Hello Ken,

Please see the link below for information upon creating an automated strategy.

http://www.ninjatrader-support.com/HelpGuideV6/DevelopTradingLogic.html

In addition, I found the forum thread below regarding automated strategies and OCO orders.

http://www.ninjatrader-support2.com/vb/showthread.php?t=14190&highlight=OCO+order+NinjaScript