Multiple Stop Losses

[njs1987]

I'm trying to figure out how to have my trades closed in a certain order when using more than one stop loss. For instance, if I place one order at 6500 then move my stop to break even once price goes up, then I add another order at 6600 and place a second stop at 6600 once price goes up, How do I make it so the original order keeps running once the 2nd stop gets hit? I want the 2nd stop to sell the 2nd order when hit but I can't seem to figure out how to do that as the first order gets closed when the 2nd stop is hit.

[NinjaTrader_RyanS]

Hello,

Thank you for using NinjaTrader.

NinjaTrader uses a first in first out order system, so it would be expected that the first contract you bought would be the first that was sold when a stop order was sent.

FIFO is important since getting your orders filled is dependent on a FIFO algorithm which basically means orders submitted ahead of yours at your order's price level will get filled ahead of you.

I would also note that this does not affect your position or order strategy in any meaningful way. For instance, after the second order is filled and the second stop is hit, you want to be taken out of the second contract and have the first contract remaining with a stop of 6500.
With FIFO order handling, the first contract would get stopped out at 6600, and the second contract would remain. So you would still effectively be long 1 contract with a stop at 6500, just it is a different contract than your original.

Please let me know if you have any further questions.