Partial Exit

[fallendog]

Hello,

I have a little problem when I try to close a position partially. In my program below, I enter a long position with position size= entryPosSize*maxLot, and I try to exit the position partially with position size= entryPosSize.
The first time, the partial exit works good, but after, the line ExitLong(entryPosSize) is executed because I see the message "FirstStrategyLong Exit long Resistance” but I don't see any order generated by NinjaTrader, neither any exception or confirmation on Log Tab.
Could you advise please, what should I do let NinjaTrader execute the partial exit for the second, third time etc.?

Best regards



try{
//Enter Long Cond
if ((isEnterLongCondTouchSupport() || isEnterLongCondBreakOut())
&& Position.MarketPosition==MarketPosition.Flat)
{
entryPosSize=(int)getEntryPosSize(Close[1],MIN(Low,perFlorCap)[0]);
EnterLong(entryPosSize*maxLot);
double stop=MIN(Low,3)[0];
SetStopLoss(CalculationMode.Price,stop);

String msg="FirstStrategyLong Entry long: Instrument="+Instrument
+" Price="+Open[0]
+"EntrySize="+entryPosSize*maxLot+" Stop="+stop;

Print(msg);
SendMail(mail_from,mail_to,"FirstStrategyLong Entry long"+Instrument,msg);

}

//Exit Long Cond
if(isExitLongCondResistance() && Position.MarketPosition==MarketPosition.Long)
{
ExitLong(entryPosSize);

String msg="FirstStrategyLong Exit long Resistance: Instrument="+Instrument +" Price="+Open[0]+" Size="+entryPosSize;

Print(msg);
SendMail(mail_from,mail_to,"FirstStrategyLong Exit long"+Instrument,msg);
}
}catch (Exception e){
Print(Time[0] + " " + e.ToString());
Log("General Strategy Error: Please check your strategy for errors.", LogLevel.Error);
}

[NinjaTrader_JC]

Hello fallendog,

To be able to scale out of a Position using the Managed Approach, you will have to create multiple entry orders so that you can specify an entry order to scale out from.

Here is a thread that has an example of this that you may view.

http://www.ninjatrader.com/support/forum/showthread.php?t=3751

Let us know if you have any questions.

[fallendog]

Partial Exit

Hi,


Thank you for your advise to open multiple entry orders that allow to apply different profit targets and stop losses. But my need is a little bit different. I want entry once, with general stop and scale out position with ExitLong(). When I look at ninjascript help about ExitLong(), I see the folowing:


Closing a Partial Position using an Exit Method
You can close out a partial position by specifying the exit quantity. The following example goes long 3 contracts. Each subsequent bar update will submit a market order to exit one contract until the position is completely closed. ExitLong(1) will be ignored if a long market position does not exist.
protected override void OnBarUpdate()
{
if (CrossAbove(SMA(10), SMA(20), 1))
EnterLong(3);

ExitLong(1);
}
If I understand well, ExitLong(quantity) is designed to close the position partially. But I don’t understand, why it works once but not twice in my program?


Best regards

[NinjaTrader_JC]

Hello fallendog,

Your understanding of the help guide is correct, but there is a bug when closing a partial position like that when using real-time data (Historical data will process as the help guide states). With real-time data it will exit the first order but then NinjaTrader will consider the entry order completed so NinjaTrader will ignore the rest of the exit orders unless a Unique Signal Name is defined for each one.

If you would like to enter with one order and exit out with multiple orders using real-time data you may want to use the Unmanaged Approach that will be able to do this.

Let me know if you have any questions or if I can be of further assistance.

[fallendog]

Thank you for your answer. I’ll try the Unmanaged Approach. Do you have any example showing how to scale out a position with the Unmanaged Approach?

[NinjaTrader_JC]

Hello fallendog,

Here is a simple example of it.

protected override void Initialize()
{
        CalculateOnBarClose = true;
	Unmanaged = true;
}
protected override void OnBarUpdate()
{			
	if (CrossAbove(SMA(10), SMA(20), 1))
			SubmitOrder(0, OrderAction.Buy, OrderType.Market, 3, 0, 0, "", "");
			
	if (Position.MarketPosition == MarketPosition.Long)
			SubmitOrder(0, OrderAction.Sell, OrderType.Market, 1, 0, 0, "", "");
}

[fallendog]

Ok, thank you! I'll try it.