Resubmit Order if Rejected

[jakaniss]

Hello Ninja Trader Support,

I have created an Automated Strategy which executes as expected but there are times when my ProfitTarget order is rejected due to price movement or for being outside of High or Low Band.

I have set RealtimeErrorhandling to IgnoreAllErrors and have tried to implement an section in my script for OnOrderUpdate to resubmit the SetProfitTarget order if the OrderState is Rejected. I found some examples in the forum and documentation but it just isn't working.

I have attached my OnOrderUpdate code as well as the Error Log lines that show the error. I ended up having to submit the order manually via ChartTrader.

Thanks for all your help,

[hedgeplay]

Hi

No where in code you attached do I see you submit the replacement order.

You were on the right track before you commented out this line..
"//ExitShortLimit(0, true, Position.Quantity ...."

Hedge

if (targetOrder != null && order.OrderState == OrderState.Rejected)
{

//ExitShortLimit(0, true, Position.Quantity, Position.AveragePrice - (ProfitTarget * TickSize), "Profit target", @"RSICrossShort");

}

[jakaniss]

Hi Hedgeplay,

Thanks for your help.

I am using the SetProfitTarget order entry since I am using the managed approach. Does that command not work in the OnOrderUpdate section? I can switch to ExitShortLimit but just want to make sure it will still be tied to my strategy "RSICrossSort"

Thanks again

[NinjaTrader_ChrisL]

Hi jakaniss, thanks for posting. We have a full example on how to monitor orders made with the Set methods here:

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?monitoring_stop-loss_and_profi.htm

When the order is rejected, and only in the rejected state, resubmit the profit target order.

Kind regards,
-ChrisL

[jakaniss]

Chris,

Thank you very much for this. I have incorporated the same code into my strategy. When you have a moment could you please verify that my methodology changes (in bold below) to the sample code look appropriate. It seemed pretty straight forward but I could use a second set of eyes.

Thanks again,

Jason

// Process profit target orders
if (profitTargetOrders.Contains(order))

{
// Check order for terminal state

if (order.OrderState == OrderState.Cancelled || order.OrderState == OrderState.Filled)

{

// Print out information about the order
Print(order);

// Remove from collection

profitTargetOrders.Remove(order);
}

// If the target order is rejected then resubmit the order
else if (order.OrderState == OrderState.Rejected)
{

Print("The order " + order.Name + " was rejected!");

profitTargetOrders.Remove(order);

SetProfitTarget(@"R",CalculationMode.Ticks, ProfitTarget);

}

else
{
// Print out the current stop loss price
Print("The order name " + order.Name + " limit price is currently " + limitPrice);
}
}

[NinjaTrader_ChrisL]

HI Jason, this looks fine to me. It is a bit difficult to test in playback, so it will need to be monitored to make sure this works in real time trading.

Kind regards,
-ChrisL

[jakaniss]

Thanks Chris,

Yea, I don't see a way to "test a rejection" so I am just watching a waiting. The upside is I feel my code is much more streamlined and the stops and targets are submitted much quicker and more accurately. Thanks again.

[hedgeplay]

Thanks Chris,

Yea, I don't see a way to "test a rejection" so I am just watching a waiting. ...

I think you can test your rejection response code (without risky real money) by using the simulator to forward testing your strategy with live data but trading against a Sim account.

Then in your code use a simple int counter to once every x bars or every x trades intentionally submit a StopLimit order on the wrong side of the Market

.. the error popups will start flying at you and OnOrderUpdate() should show your order with a Rejected status which will allow you to test all of your Rejected error response scenarios.

Hedge