Scale Out

[titleistbb22]

Hello - I reviewed the sample code on scaling out of a position. Is there a way to scale out without having to use separate entry signals?

For example my strat has 5 entries per direction and using the same criteria to enter on 4 of these entries. I'd like the ability to scale out of, say half the position.

Please advise, thank you

[NinjaTrader_RyanM1]

Hello titleistbb22,

You would have to use an unmanaged system in version 7 if you were looking to do this.

With the managed order system, you must have separate entry signals to scale out.

[titleistbb22]

Thank you - can you clarify what you mean by "unmanaged system"? I assume that means I would make the exits manually?

[NinjaTrader_RyanM1]

Sure. Take a look here:

http://www.ninjatrader.com/support/helpGuides/nt7/unmanaged_approach.htm

It doesn't meant that exits are taken manually. With unmanaged system you no longer have internal order handling rules or signal name tracking. All your order handling must be custom coded.

[titleistbb22]

Thank you, but this really doesnt help me if I am reading the section on signal tracking inside of Working with Unmanged order methods

Entries per direction can not be utilized

Is this correct?

[NinjaTrader_RyanM1]

That's correct. There is no signal tracking or handling rules with the unmanaged order system. You just submit orders and control all order handling through your own custom code.

It's meant to give you more control and flexibility with order management, but that also means that there is a learning curve and you lose convenience with the managed order system.

[titleistbb22]

ok thank you for explaining