takeProfit and stop loss with unmanaged approach

[tazz90]

hi

i am new to automated trading domain and ninja trader .can any one please tell how can i place stop loss and take profit with unmanaged approch ?

thanks

[NinjaTrader_PatrickH]

Hello tazz90,

Thank you for your post and welcome to the NinjaTrader Support Forum!

Using SubmitOrder() with OCO ids and IOrder objects to check the status and read the name of the order you can place protective Stops and Targets using the Unmanaged Approach.

I recommend reviewing the following forum thread for information on this item: http://www.ninjatrader.com/support/f...ad.php?t=52561

For information on IOrder objects please visit the following link: http://www.ninjatrader.com/support/h...nt7/iorder.htm

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

[tazz90]

Thank you so much Patrick for replying
as i have told you, i am new to ninja trader that's why i don't know much about it .
my questin is why should i submit my order with OCO ids right now am doing simply
buyOrderId = SubmitOrder(0, OrderAction.Buy, OrderType.Market,(int) orderQuantity,0,0,"","Enter Long");
what is OCO purpose . i have looked at little description about OCO in submit order but that didnt help me much
can you tell me about OCO?

[NinjaTrader_PatrickH]

Hello taxx90,

Thank you for your response.

OCO is One Cancels Other. The application of this in this case is to set your Profit Target and Stop Loss to the same OCO id. So that when either the Stop or Profit is filled the opposite order is cancelled.

An example would be if your Profit Target was filled the Stop Loss would be cancelled so that you do not have an order waiting to be filled that you do not want.

You can view a video on OCO orders at the following link: http://www.ninjatrader.com/support/m...cels-Other.htm

Please let me know if you have any questions.