Entering long and stop as a part of the same strategy

[pandyav]

Hello,
Is it possible to enter long and short at the same time if a certain condition is met.

E.g if MA for Period 1 Crosses above MA of Period 2, the automated strategy will place 1 long trade and 1 short trade with the same stop loss level. If the market continues to climb higher, I will only lose the money that I had to give up as a part of short trade and earn the difference between the stop loss of the short trade and exit price of the long trade.

If it is possible to do so as a part of an automated strategy, should both the entry conditions be part of the same entry statement or should i have different entry code for both long and short trade.

Very much appreciate any ideas in advance,
Thanks!

[NinjaTrader_CalH]

Pandyav,

Thank you for your post.

Yes, this is possible but only with the unmanaged approach.
http://www.ninjatrader.com/support/h...d_approach.htm

Let me know if I can be of further assistance.

[pandyav]

Thanks Cal, I looked at the link below and it is quite helpful. Can you give me any idea about what is the difference between managed and unmanaged approach? To me both of them are using Ninjascript to define a strategy, so what is the difference between them?

Thank you!

[NinjaTrader_CalH]

Pandyav,

The unmanaged approach will require more attention to detail when you are managing your order system. While the managed approach has some under the hood settings that account for this.

Think of the managed approach as an automatic transmission in a car and the unmanaged as a manual transmission.

[pandyav]

And a strategy created with unmanaged approach will still place the trade automatically and get out of it just like the managed approach, is that correct?

[NinjaTrader_CalH]

No, You will need to add logic to your strategy to account for your exits and if you need to cancel the order.