Multiple Positions with the Same Currency

[michaelphelps]

Hello,

I am trying to test a strategy that opens a buy and a sell on a currency pair at the same time. Both orders have the same take profit and stop loss so I am trying to have both orders have the same ATM.

I apply my orders by right clicking on the chart and creating a line. Then I drag the line (buy or sell order) to the price I want to get in with.

The first order is fine it enters with my ATM parameters. Problem is I try to quickly enter an opposite order (buy or sell) and instead of it being a separate order it uses the new order as a stop loss or take profit line of the existing order and closes the previous trade out rather than starting a whole different trade.

I am demoing with MBT and Ninja Trader and I would like to know a couple of things of how to implement this strategy.

How do you have 2 separate orders on the same currency at the same time?

Is it possible to do this in chart mode?

Is it possible to create a strategy that issues a buy and sell at the same time each with their own Take Profit and Stop loss?

Any help would be appreciated, thanks,

M

[NinjaTrader_Jason]

Hello Michael,

This is only possible by using 2 ChartTrader windows and set the ATM Strategy Selection Mode for both ChartTrader windows set to "DisplaySelectedAtmStrategyOnly" in the ChartTrader properties menu (right click in ChartTrader). More information can be found at the link below.

http://www.ninjatrader-support.com/HelpGuideV6/StrategyMode.html

You can now go long in one ChartTrader window and short in the other ChartTrader window at the same time for the same instrument.

[michaelphelps]

Perfect, that should work.

Thanks,

M

[michaelphelps]

Alright I did the 2 chart thing and it works, but it is saying i have no open positions I assume because I bought and sold the same currency at the same time.

It is calculating P/L in chart trader, but there are no positions listed under open positions.

It also says I have 20 working orders, so I am wondering if it will accurately employ the Take profit and stop loss, especially since it does not seem to realize I have any open positions.

I can do this on a different order module if you think that will work, I just wait for a really tight spread and open market orders in both directions so I don't need the chart.

What do you think?

Thanks,

M

[michaelphelps]

i noticed the orders are listed under strategies and they are calculating PL live so maybe it is working fine.

M

[NinjaTrader_Jason]

Hello Michael,

Yes, all is working as expected. There is no position listed, since you are actually flat in the market (1 long, 1 short). The Strategies-tab will display your unrealized PnL per strategy.