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organzing stop loss and profit target with proper order

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    organzing stop loss and profit target with proper order

    Hi,

    I have a strategy where I have multiple orders each with it's own unique stop loss and profit target. I came to the conclusion that the managed way was not going to work due to the fact that the value of the set stop loss and take profit would change on each order. If this is not correct then tell me please.

    With that being said I went with unmanaged. I am now having trouble where the proper stop loss is not closing out the proper order. In reality in terms of actual profit it doesn't make a difference because it has the same effect but this makes it incredibly difficult to analyze the strategy on the chart. Is there any way to tie my stop loss, profit target, and actual order together so it lines up properly on the graph? FYI, my signal name is unique and the stop loss, take profit, and main order all share the same name.

    Another idea that I had considered was drawing my own lines. Is there any way of preventing ninja trader strategy analyzer from it's lines thus allowing me to draw the proper lines. Of course I still would have trades not lining up in the list of trades so this wold only be if I can't get it to work normally.

    #2
    Hello bfis108137,

    Thank you for your post.

    I would venture to guess that the value used for the original quantity is dynamic and changes depending on your own conditions. Why not use this same value for the quantity of the Stop Loss and Profit Target in the Managed Approach?

    When using the Managed Approach you can tie entries and exits together via the from entry signalName after defining the entry signalName in the Enter() method. However, the Unmanaged Approach does not offer this as it is intended to be used by those who wish to manage the orders via their own code. You can however use IOrder objects to help in tying orders together.

    For information on using IOrder objects please visit the following link: http://www.ninjatrader.com/support/h...nt7/iorder.htm

    Please let me know if you have any questions.

    Comment


      #3
      My problem with the managed approach is not the amount of units ordered. It's that when I want I set the stop loss on one order, it changes it on the other open orders. Or could I just not use the stop loss and profit target functions and manually set orders in the managed approach?

      Comment


        #4
        Hello bbfis108137,

        Thank you for your post.
        Originally posted by bfis108137 View Post
        It's that when I want I set the stop loss on one order, it changes it on the other open orders. Or could I just not use the stop loss and profit target functions and manually set orders in the managed approach?
        Are you looking to manually adjust Stop Loss orders that were generate from NinjaScript strategies?

        Can you expand on the item where adjusting one Stop Loss adjusts it for all Stop Losses?

        I look forward to your response.

        Comment


          #5
          Actually I figured it out but maybe to help others I will expand. If I open an order with a stop loss of 20 pips relative to it's order and then the next order needs to have a stop loss of 25 pips relative to it's order and they are both open at the same, then I can't use the stop loss features of managed approach. However that doesn't keep me from using the managed approach altogether. I can still manually place stop orders and therefore benefiting from the linkage between orders in the managed approach. This is what I did.

          Comment

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