Exit Positions from Unmanaged Orders

[mr_trade]

Hi All,

I have been focusing on strategies using unmanaged orders, so far I can successfully submit and create TP's and SL's via OnOrderUpdate. So far so good.

However I would like to know how to swap an order when the conditions are reversed. So for instance a moving average crossover.

The managed approach does it for me and can only have 1 direction per trade.

So how would I exit an unmanaged position? for example I have

if (Position.MarketPosition == MarketPosition.Flat && longLimitEntry == null)
{
longLimitEntry = SubmitOrderUnmanaged(0, OrderAction.Buy, OrderType.Limit, OrderQuantity, [COLOR=#252C2F]Low[0] - (10 * TickSize)),[/COLOR] 0, ocoString, "longLimitEntry");
}

is it as simple as submitting another "SubmitOrderUnmanaged for OrderAction.Sell, OrderType.Market"?

Thanks for your help.

[NinjaTrader_Jim]

Hello mr_trade,

Thanks for your post.

When working with Unmanaged strategies, we are only thinking in terms of buying and selling.

You could check Position.MarketPosition == MarketPosition.Long and then do as you suggest to use SubmitOrderUnmanaged for OrderAction.Sell, OrderType.Market for the quantity Position.Quantity.

Reversing then would involve submitting an order with a greater order quantity which would but the strategy in a short position rather than a flat position.

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

[mr_trade]

Thanks for your quick reply. As you say it makes sense for the opposite signal to simple double the original position to switch sounds easier

thanks will I’ll have a go later.

[mr_trade]

Hi Jim,

I have tried doing the above, but in backtesting I just get 2 orders now one buy one sell. Even doubling up I just get double the original entry on my new order.

Do I need to link the orders to their unique order entry number somehow?

Thanks for your help.

Regards

[mr_trade]

Hi Jim,

Ignore me, I just realised I didn't have BuyToCover on. Thanks! Its working now.

Thanks for your guidance.