Flatten Position

[edward_bell]

In the first filled I only submit stop1 and stop2 because the position quantity is only 3. So I submitted 2 for stop1 and 1 for stop2. Now seconds later the market filled the remaining 2 contracts. So as I said in my stop management I have this setup stop1 = 2, stop2 = 2, and stop3 = 1, that makes 5 contracts. My question is how to amend the quantity of my submitted stop2? Because I only submit 1 on it on the first filled. So that I could still maintain my stop management setup. I could not submit stop3 with the remaining 2 contracts filled because it will not follow my stop management setup.

[NinjaTrader_ChelseaB]

Hi edward_bell,

I understand now.

As long as stop 2 has not filled, you can re-submit it with a quantity of 2 to amend it.

[edward_bell]

Ok so I will just use the ChangeOrder() method on it right?

[NinjaTrader_ChelseaB]

Hi edward_bell,

You are correct.

Because the quantity is changing you will need to use change order.

http://www.ninjatrader.com/support/h...hangeorder.htm

Let me know if you have any trouble using this.

[edward_bell]

What if filled price of the 2 remaining contracts is different by a tick from the filled price of the 3 contracts?

[NinjaTrader_ChelseaB]

Hello edward_bell,

That can and does happen.

NinjaTrader provides a Position.AvgPrice. This would be the average entry point.

Lets say you enter two orders. One fills at 100. The other fills at 120. NinjaTrader would then give a Position.AvgPrice of 110.

Below is a link to the help guide on Position.AvgPrice.
http://www.ninjatrader.com/support/h...7/avgprice.htm

[edward_bell]

So in my previous case what will happen to my stop2? I could not amend it because it has different filled price.

[koganam]

So in my previous case what will happen to my stop2? I could not amend it because it has different filled price.

The fill price of an order has nothing to do with the Stop price of the protective order. If you want to use the fill price to calculate the stop price, then just use it. The price at which you issue the stop is the price at which you issue the stop, whether initially, or as adjusted.

[NinjaTrader_ChelseaB]

Hello edward_bell,

Are you not able to amend the order using ChangeOrder?

I am currently using the following line to amend stop1 to 5 ticks below entry successfully.

ChangeOrder(stop1, 1, 0, Position.AvgPrice - 5 * TickSize);

Attached is the full code.

[bltdavid]

SubmitOrder Using "Buy" vs "BuyToCover"

Hi ChelseaB,

I notice in all your attached examples using Unmanaged mode, you have this code,

else if (Position.MarketPosition == MarketPosition.Short)
{
    SubmitOrder(0, OrderAction.Buy, OrderType.Market, Position.Quantity, 0, 0, "", "exit");
}

When you are short, shouldn't you use OrderAction.BuyToCover?

I presume they both end up doing the same thing because of OrderType.Market, but,
wait, uh ... hmm, aren't they both going to do exactly the same thing all the time for
all order types?

So, what's the difference in behavior between using "Buy" and "BuyToCover"?
Does it depend upon the exchange or something?

Thanks

[NinjaTrader_ChelseaB]

Hello bltdavid,

Yes, BuyToCover should be used here.

For some brokerages that would make a difference. (For the Sim101 it will not)

I've remade the export with that change.

[pstrusi]

Edward, maybe this is too late, but in case it can be helpful for you, I'd suggest to set your stops-orders from other method:

protected override void OnPositionUpdate(IPosition position)
		{
                     // detects what the new position is
                     // If new position cancel old stops order and submit the one accordingly
                     // if it's till same position with different quantity: change the order accordingly
}