Stop and target 1 Order after filled entry

[edward_bell]

When submitting a stop and target order for an entry that is being filled that does mean that the broker will charge again for that stop and target order? Or in every submitted order even stop and target the broker will charge it or counted it as another order? Someone could help me on this one and if that is true then someone could give me tips on how to submit an stop and target entry for an entry that will cause another charge from the broker.

In this case I am referring to orders being submitted by Managed and Unmanaged approach not by using ATM.

[NinjaTrader_CalH]

Hi Edward,

Thank you for posting.

When using the managed approach with Target and Stop, these will be orders placed at the exchange from the strategy.

Below is a link on where your orders reside and will help clarify the orders and OCO of your orders.

http://www.ninjatrader.com/support/f...7076#post27076

The fees will be dependent on the broker that you have and would need to contact your broker for that information.

Please let me know if I can be of further assistance.

[edward_bell]

Thank you. By the way can you give me example on how to submit a target and stop of an entry. I am using an Unmanaged approach in submitting my entry. I have this code but I have some confusions on what will be the order type when submitting a stop and target.


Submit stop for a long entry:

stop1Order = SubmitOrder(0, OrderAction.Sell, OrderType.Stop, 1, 0, execution.Order.AvgFillPrice - (20* TickSize), "st1", "long entry");
stop2Order = SubmitOrder(0, OrderAction.Sell, OrderType.Stop, 1, 0, execution.Order.AvgFillPrice - (20* TickSize), "st2", "long entry");
stop3Order = SubmitOrder(0, OrderAction.Sell, OrderType.Stop, 1, 0, execution.Order.AvgFillPrice - (20* TickSize), "st3", "long entry");

But for submitting target I am confused with it could you give me a sample of it? Thanks in advance

[NinjaTrader_CalH]

Edward,

It looks like you are on the right path.

A Stop Loss is a Stop Limit order type and Profit Target is a limit order type.

Stop Loss order -

SubmitOrder(0, OrderAction.Sell, OrderType.StopLimit, 1, 0, execution.Order.AvgFillPrice - (20* TickSize), "st1", "long entry");

Profit Target -

SubmitOrder(0, OrderAction.Sell, OrderType.Limit, 1, 0, execution.Order.AvgFillPrice + (20* TickSize), "st1", "Entry");