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How to cancel buy limit if target fills
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How to cancel buy limit if target fills
Often I find myself wanting to leave a buy limit order to add to a position but then I would also like that limit order (adding to position) to cancel if my original target fills. Is there a way I can do this?
Thanks for your time.Tags: None
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Hello, thanks for writing in. The best way to do this would be through the use of Exit orders for your stop and target rather than using SetStopLoss/SetProfitTarget. The Exit methods can be canceled where the Set methods can not be directly canceled unless ExitLong()/ExitShort() is called. While using Exit orders, you will be able to keep track of each order using OnExecutionUpdate/OnOrderUpdate and cancel the pending entry order if the stop or target of the original position closes. See the related example here:
Chris L.NinjaTrader Customer Service
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