Limit Order Questions....

[BigDog008]

Is it possible to have working limit orders both long and short, and then cancel out the order that does not get filled?


essentially market making

[NinjaTrader_Austin]

Unfortunately, there isn't a way to have both a long and short order at the same time.

From the Internal Order Handling Rules page:
Methods that generate orders (excluding market orders) to enter a position will be ignored if:

• A position is open and an order submitted by an exit method (ExitLongLimit() for example) is active and the order is used to open a position in the opposite direction
• A position is open and an order submitted by a set method (SetStopLoss() for example) is active and the order is used to open a position in the opposite direction
• The strategy position is flat and an order submitted by an enter method (EnterLongLimit() for example) is active and the order is used to open a position in the opposite direction

This is being addressed in NT7; from the NT7 announcement page:
New Unmanaged Order Submission
In 6.5 some users were burdened with our "Internal Order Handling" rules. We have introduced unmanaged order submission which bypasses the convenience of our order handling layer. This lower level of programming allows you to do what you want relative to order submission/management without any limitations other than any imposed by your broker. There are only three methods, SubmitOrder(), ChangeOrder() and CancelOrder(). You then get the flexibility of managing your orders how you see fit and optionally handling rejections.

[BigDog008]

so no possible way to have both

EnterLongLimit

and

EnterShortLimit


working at the same time correct?

[NinjaTrader_Austin]

so no possible way to have both

EnterLongLimit

and

EnterShortLimit


working at the same time correct?

Not until NT7.

[honvl]

If I use CancelOrder on a limit order and then immediately place a limit order in the opposite direction, will that work? Or is the PendingCancel state considered an active order and my new limit order will get rejected?

[NinjaTrader_JoshP]

Still active. You will need to wait till a full Cancelled state is received.

[honvl]

If I want to enter positions with EnterLongLimit and EnterShortLimit, what is the simplest way to program the order handling so that I can reverse without order handling rules getting in the way?

[NinjaTrader_Bertrand]

Unfortunately there's no way around in NinjaTrader 6.5 - please mmonitor for the currently traded last price and submit / park only one order as needed then. Or reverse with a market order, this would of course not get ignored by the 'rules' then.

For NinjaTrader 7 we offer a unmanaged order submission feature then which gives you all flexibility in this regard -

http://www.ninjatrader.com/webnew/NT7/NinjaTrader7.html

[Allterraintrader]

Bracket Entrance Support

Hi, I am new here, a few pointed questions.

1) Can NT automatic Strategy allow entrance with a OCO bracket order for a breakout strategy?
From what I am reading in it won't be able to? Is that correct?

2) I have code that I don't see easily transfered over. I can recreate much of the automated system however I need help in knowing how to create a limit order exit strategy that takes the activation bar, subtracts the high - low and then times it by a number that I can optimize. What support can you offer for this?

3) 2) When does the exit orders get activated in automatic trading? Is the exit stop and limit target placed after the first closed bar of the the entrance fill or do they get activated simultaneously with getting filled to enter the market?

[NinjaTrader_JoshP]

Allterraintrader,

I have answered this inquiry in your own thread. Please see my response there. Thank you.