2 stop orders (not oco)

[trader3000a]

Hi, please see attached. Any examples of how to set this up in the strategy builder? For example, at the high and low of the session, after x bars?
thanks

[NinjaTrader_Jesse]

Hello trader3000a,

To do any type of scaling you need to submit multiple entries so you can tie the individual targets to a part of the position. For what you are asking you could use two separate entries with unique signal names and then in the Stops and Targets page configure two stoploss orders. Each of the stop orders has a field where you can enter the entry orders signal name, that ties that stop to a specific entry.

If you need to submit the orders with dynamic prices instead of an offset you would need to use the Sets to submit orders instead of the stops and targets page. The same concept applies where you would tie the exit to an entry by its signal name. You can find a sample of submitting a target from the set pages in the following link: https://ninjatrader.com/support/foru...rategy-builder

[trader3000a]

I'm not sure what you mean by scaling in this example. I just want 2 put 2 orders on, and if one gets hit, the other one is the protection.

[NinjaTrader_Jesse]

Hello trader3000a,

Scaling means to enter or exit part of a position. If you want to submit two stop orders to close a position you would need to have submitted two entries to have a quantity of 2 position. You can then target 1 quantity per stop order to close out each of the entries individually. The managed approach won't let you associate a second stop with an entry because that could lead to both stops filling and causing a discrepancy.

If you otherwise mean to enter into a position and then have 1 stop you would need to make a condition to submit the entry order and then use either the stops and targets page or the sample I linked to if you need to dynamically price the stoploss.

[trader3000a]

ok, I see how I have to use unmanaged for this.
After going over the documentation, It looks like it's safer and easier to use the managed approach and just calculate/save the protective stop prices as variables and initialize them once the entry gets hit.