scale out

[tonynt]

Hello,

when I do a trade with multiple contracts I do the entries with eg 4 x 1 contract for having different targets and to get out at the profittarget with the same name (that is related to the entry.)

But I´d like to do instead an entry with 1 x 4 contracts and to scale out from this 4-contract-position every time a target is reached.

I couldn´t code this. How can I do? Thanks for help.

Best regards
Tony

[koganam]

Hello,

when I do a trade with multiple contracts I do the entries with eg 4 x 1 contract for having different targets and to get out at the profittarget with the same name (that is related to the entry.)

But I´d like to do instead an entry with 1 x 4 contracts and to scale out from this 4-contract-position every time a target is reached.

I couldn´t code this. How can I do? Thanks for help.

Best regards
Tony

From this page: http://www.ninjatrader.com/support/h...d_approach.htm

I get this snippet:

Closing a Partial Position using an Exit Method
You can close out a partial position by specifying the exit quantity. The following example goes long 3 contracts. Each subsequent bar update will submit a market order to exit one contract until the position is completely closed. ExitLong(1) will be ignored if a long market position does not exist.

protected override void OnBarUpdate()
{
    if (CrossAbove(SMA(10), SMA(20), 1))
         EnterLong(3);
 
    ExitLong(1);
}

[tonynt]

scale out

Hello,

koganam thank you for your reply.

Best
Tony

[tonynt]

Hello,

coming back to this trade management I think now what would be the best for handling the corresponding stops? Eg in the sample here with EnterLong(3) how can it be done so that after the ExitLong(1) the stoplossquantity is 2. How would this be done when working instead of setstoploss with exitlongstop?


Thanks
Tony

[koganam]

Hello,

coming back to this trade management I think now what would be the best for handling the corresponding stops? Eg in the sample here with EnterLong(3) how can it be done so that after the ExitLong(1) the stoplossquantity is 2. How would this be done when working instead of setstoploss with exitlongstop?


Thanks
Tony

Reissue the stop order with the correct quantity specified.

[tonynt]

Hello,

thank you for your reply. This is a good idea but how can I fill the new stop with the "actual" quantity in the market. I dont know how to verify this state and add in the syntax of the script like "... if marketposition == long..check quantity and fill exitlongstop(..qty...)"


Thanks
Tony

Reissue the stop order with the correct quantity specified.

[koganam]

Hello,

thank you for your reply. This is a good idea but how can I fill the new stop with the "actual" quantity in the market. I dont know how to verify this state and add in the syntax of the script like "... if marketposition == long..check quantity and fill exitlongstop(..qty...)"


Thanks
Tony

Two ways.

1. You know how many you were in, so if targets are filled, you know how many should be left. Just a matter of subtraction as targets are filled; or
2. Use Position.Quantity to either confirm your calculations, or as an absolute measure.

[tonynt]

Hello,

ad 1. I do not know. Or maybe I know, but how can I bring in to a script during a trade??

ad 2. Thank you. This is what I was looking for to use it in exitlongstop(...Position.Quantity...). Hope this works.

Best
Tony

Two ways.

1. You know how many you were in, so if targets are filled, you know how many should be left. Just a matter of subtraction as targets are filled; or
2. Use Position.Quantity to either confirm your calculations, or as an absolute measure.

[koganam]

Hello,

ad 1. I do not know. Or maybe I know, but how can I bring in to a script during a trade??

...
Best
Tony

You know how many you entered into the position. You know how many you exited. So the difference is the difference. If you started with 3 contracts, then after profit is taken on 1 contract, you are left with 3 - 1 = 2 contracts.

What am I missing here?

[tonynt]

How will you work with this information in a script that is running? I can watch it, I can write it on paper, I can make a screenshot. But how could I use this information and work with in a script running this moment? Stopping the strategy and bringing in the stop manually?

You know how many you entered into the position. You know how many you exited. So the difference is the difference. If you started with 3 contracts, then after profit is taken on 1 contract, you are left with 3 - 1 = 2 contracts.

What am I missing here?