Exit Position at limit and Enter position in opposite direction at Limit

[admiralpanda]

I would like to exit a position at limit and enter another position in the opposite direction at limit. Something like this

ExitLongLimit(Close[0]);
EnterShortLimit(NoOfContracts, Close[0]);

But, I read in the documentation that

Methods that generate orders to enter a position will be ignored if:
•A position is open and an order submitted by a non market order exit method (ExitLongLimit() for example) is active and the order is used to open a position in the opposite direction

I'm guessing this is exactly what my code does above, so the EnterShortLimit will be ignored?

Is there any other way I can achieve creating an exit at limit and enter at limit? Or I just have to exit at market and create an entry at limit and there is no way around it?


I'm aware of dangling orders in the case of exiting in limit orders. So, I do have a fail safe that will trigger at a price x ticks away to close any open positions at Market.

[NinjaTrader_BrandonH]

Hello admiralpanda,

Thanks for your post.

You would need to wait for the Exit order method to fill before calling your Enter order method to enter in the opposite direction.

A condition could be created that checks if you are in a flat market position (Position.MarketPosition == MarketPosition.Flat) before calling EnterShortLimit() in your script.

Position.MarketPosition: https://ninjatrader.com/support/help...etposition.htm

Or, you could consider tracking order objects in OnOrderUpdate()/OnExecutionUpdate() to check if the Exit order OrderState is OrderState.Filled and then call your Enter order method to place a limit order to enter a short position.

OnOrderUpdate(): https://ninjatrader.com/support/help...rderupdate.htm
OnExecutionUpdate(): https://ninjatrader.com/support/help...tionupdate.htm
SampleOnOrderUpdate: https://ninjatrader.com/support/help...and_onexec.htm

However, it seems that you are submitting the orders to the current close price (current market price).

If you are trying to reverse a position from a long position to a short position, you could just call EnterShort() when you are in a long position to automatically reverse your position from long to short.

From the Managed Approach help guide:

"Entry() methods will reverse the position automatically. For example if you are in a 1 contract long position and now call EnterShort() -> you will see 2 executions, one to close the prior long position and the other to get you into the desired 1 contract short position."

Managed Approach: https://ninjatrader.com/support/help...d_approach.htm

[admiralpanda]

I've a condition parameter in the strategy that checks to enter and exit at limit. Otherwise it reverses using the EnterShort() or EnterLong() methods.

Thanks for the code snippets, I'll look into those.