Managing many positions

[MR3301]

Hello,

I open 2 positions at different prices on the same instrument
I would like to close the first position and keep the second.
How to do that ?
Thank you.

Quentin

[NinjaTrader_BrandonH]

Hello MR3301,

Thank you for your post.

So I may accurately assist you, please answer the following.

- What trading window are you using to place trades? (SuperDOM, Chart Trader, Basic Entry, etc..)

I appreciate your patience and look forward to resolving this item.

[MR3301]

I use Basic Entry
Thank you

[NinjaTrader_BrandonH]

Hello MR3301,

Thank you for your reply.

In order to close one position and keep the second, you may submit an order in the opposite direction for the appropriate quantity.

For example, if you have 2 long positions, you would need to place a sell order with a quantity of 1. This would sell 1 position and you would still be 1 long.

More information may be found in the NinjaTrader Help Guide link below.

https://ninjatrader.com/support/helpGuides/nt8/?submitting_orders_basic_entry.htm#HowToSubmitCustomOrders

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

[MR3301]

Ok thank you.

I tried with playback.

I open two shorts :
Short #1 : 1 lot at 100$ (instrument price)
Short #2 : 10 lots at 80$

Then, the price is at 70$ and i want to close the short #2 and keep the short #1.

If I open 1 long at 70$ (10 lots) so 1 lot of the short #1 and 9 lots of short #2 will be closed. Right ?

Is there any solution ?

Thank you so much.

[NinjaTrader_BrandonH]

Hello MR3301,

Thank you for your post.

All of the NinjaTrader order entry interfaces preserve FIFO (First In First Out) status with the exchanges when possible.

FIFO is important since getting your orders filled is dependant on a FIFO algorithm which basically means orders submitted ahead of yours at your order's price level will get filled ahead of you. Think of it as a long line at the grocery store. You are checked out only when those in line ahead of you have been checked out. NinjaTrader preserves your place in line when possible giving you the best possible advantage of getting your orders filled.

More information may be found in the NinjaTrader Help Guide link below.,

https://ninjatrader.com/support/helpGuides/nt8/?fifo_optimization.htm

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