How to update the multiple stop loss orders to single order for the same instrument

[Kdevineni]

I am using CustomAddon..


When I am placing multiple orders for the same instrument over the period of few seconds to minutes.

On each order's execution event I am creating/submitting a stop loss order.

If I place 5 orders, this is resulting in 5 different StopLoss orders.

When I place new StopLoss order, I want average or update the existing stoploss order and make it a single stoploss order increasing the qty and updating the price.

In this case , if i submit 5 orders at different times for the same instrument, I want to have single stoploss order with qty 5

What's the best approach , please advice.

[NinjaTrader_Jesse]

Hello Kdevineni,

You would need to do a Change Order instead of submitting new orders. After submitting the first order each additional time you submit an order you would change the existing targets quantity.

If you are using the addon framework that is the Change method on the account variable. .There is a sample here, to change the quantity you use the order variables QuantityChanged property: https://ninjatrader.com/support/help...nt8/change.htm

[Neilwade]

To efficiently manage stop-loss orders when placing multiple orders for the same instrument, you should implement a mechanism to track and update existing stop-loss orders rather than creating new ones each time. Start by maintaining a record of your stop-loss orders in your CustomAddon system, using a unique identifier for each instrument and tracking the associated stop-loss orders. On receiving a new execution event, check if a stop-loss order already exists for that instrument; if so, update the existing order by increasing its quantity and adjusting the stop-loss price as needed. If no stop-loss order exists, create a new one. This approach ensures you have a single, consolidated stop-loss order with the cumulative quantity and the latest price, optimizing your order management and reducing clutter in your trading system.

[Kdevineni]

Thank you Jesse and Neil