Modify ExitLongStop Order

[kcsystemtrader]

Upon entering a long position, I set an ExitLongStop order through the OnExecution method. Once a certain profit level is reached, I am trying to modify that ExitLongStop order (basically my own trailing stop logic).

When I reach that profit level I send another ExitLongStop command with a new Entry Signal, i.e.

Original Stop Order (placed in OnExecution):
StopOrder1 = ExitLongStop(1, true, execution.Order.Filled, Position.AvgPrice - StopTarget1, "Original Stop Loss", "Buy");

After profit level reached, modify stop order (placed through OnBarUpdate):
StopOrder1 = ExitLongStop(1,true,StopOrder1.Quantity, Position.AvgPrice, "Breakeven", "Buy");

I'm using a new 'string signalName' for the same 'StopOrder1'. This is creating an additional ExitLongStop order leaving the "Original Stop Loss" order still in tact (and then 2 stop loss orders outstanding for the same position). I would think since I said 'StopOrder1' again, it would have just modified the stop order, not create a new one (Like SetStopLoss works).

Do I have to manually cancel the 1st ExitLongStop order when I send the second ExitLongStop order statement, or is there a way to modify the 1st order while changing the signalName so I can visually see the stop was adjusted? Thanks,

kc

[NinjaTrader_Bertrand]

Hi kc, this should be possible by simply using the same signal names as in your first stop order, then you would modify the already placed one.

[kcsystemtrader]

Hi kc, this should be possible by simply using the same signal names as in your first stop order, then you would modify the already placed one.

Yeah, I thought that would work, but I wanted it to be setup so that the Exit signal name provided some information about the exit (so needed different signal names). I was able to get it to do what I wanted, but I did have to create new (uniquely named) stop orders and manually cancel the old stop orders in order to get it to work right. Thanks,

kc

[NinjaTrader_JoshP]

Glad you got this resolved.