how to limit limit orders

[edstaffin]

Hi,
I have a strategy that I've written that uses limit orders. However, I want to have the limit order cancelled after a certain amount of time passes without getting filled. Is there a way to do this?
Thanks ... Ed

[NinjaTrader_CalH]

Hello Edstaffin,

You can do a comparison of when the order was submitted and then compare that to the current bar time.

When you first submit the order you will want to store the Time[0] to a variable that you can then call later on

DateTime entryTime;
if(entryCondition)
{
    EnterLongLimit();
    entryTime = Time[0];
}

if(Time[0] >= entryTime.AddMinutes(5))
{

}

Let me know if I can be of further assistance.

[daqu40]

Hi Ed,

You can use the CancelOrder() method. That's the easy part. How to use it at a specific time is where your choices are.

You can do this after a number of bars have passed (record CurrentBar when you place the limit order and check with each BarUpdate if CurrentBar - RecordedCurrentBar is enough time to cancel the limit order), you can look at the Time TimeSeries and execute at specific time of day (say and hour before the close of your market) or use it to cancel after 5 minutes have passed and you weren't filled. The TimeSeries is a bit trickier, but will give you more accurate time of day or time between putting the LimitOrder in the market and when you want to take it out.

There is good information in the NT help. I suggest looking at the section on Advanced Order Handling to get familiar with what your options are and the kinds of issues you may encounter.

Best regards