When should i SetProfit or SetStopLoss

[kujista]

Hello,
I have question. What is proper order of calling SetProfit and SetStopLoss function?

I have strategy and I have this solution:

tradeItem.Order = EnterLongLimit(timeFrameTicks, true, iContractsSet[index], tradeItem.EntryPrice, tradeItem.EntryName);

then when order is submitted and filled i do

protected override void OnOrderUpdate....
// Limit FILLED
if (order.OrderState == OrderState.Filled || order.OrderState == OrderState.PartFilled)
{​
   SetStopLoss(tradeItem.EntryName, CalculationMode.Price, tradeItem.StopLoss_Price, false);
​ SetProfitTarget(tradeItem.EntryName, CalculationMode.Price, tradeItem.ProfitTarget_Price);
​}

but I guess this is not ok. Sometimes i get partfilled order and when i see in charttrader 2 orders on sl even when only 1 contract was filled and strategy disables.

How should I proceed? I mean how to handle those partfills together with settings sl.
Will calling SetStopLoss and SetProfitTarget beore EnterLongLimit do some trick?

Thanks a lot

Paul

[QuantKey_Bruce]

That would be fine, understanding there is a lag between the time you actually get filled and the time your exits reach the exchange. It would be superior, if you know the price in advance, to do the SetStopLoss and SetProfitTarget (or ExitLongLimit and ExitLongStop) before you place the entry order.

[kujista]

Yes I know the PT and SL values, so i should change order to

SetStopLoss(tradeItem.EntryName, CalculationMode.Price, tradeItem.StopLoss_Price, false);
​SetProfitTarget(tradeItem.EntryName, CalculationMode.Price, tradeItem.ProfitTarget_Price);

and then

tradeItem.Order = EnterLongLimit(timeFrameTicks, true, iContractsSet[index], tradeItem.EntryPrice, tradeItem.EntryName);

and all these 3 commands call from OnBarUpdate() ?

Will this also handle properly part fills?

[QuantKey_Bruce]

Yes. Partial fills will be handled automatically.

[NinjaTrader_BrandonH]

Hello kujista,

Thanks for your post.

QuantKey_Bruce is correct in stating the code you shared would be okay to use and that partial fills will be handled automatically.

Since Set methods (SetStopLoss()/SetProfitTarget()) prep NinjaTrader to submit protective orders upon the execution of an Entry order they should be called before the Entry order is placed as seen in the code you shared in post # 3.

From the SetStopLoss and SetProfitTarget help guide pages: "Since they are submitted upon receiving an execution, the Set method should be called prior to submitting the associated entry order to ensure an initial level is set."

SetStopLoss: https://ninjatrader.com/support/help...etstoploss.htm
SetProfitTarget: https://ninjatrader.com/support/help...ofittarget.htm

[kujista]

Hello

It seem it started to work but i am getting now issue

Internal Order Handling Rules that Reduce Unwanted Positions

when I do these commands :-(

SetStopLoss(tradeItem.EntryName, CalculationMode.Price, tradeItem.StopLoss_Price, false);
​SetProfitTarget(tradeItem.EntryName, CalculationMode.Price, tradeItem.ProfitTarget_Price);

and then

tradeItem.Order = EnterLongLimit(timeFrameTicks, true, iContractsSet[index], tradeItem.EntryPrice, tradeItem.EntryName);​

is there problem using SetProfitTarget or what?

[kujista]

this is my custom log
prices of sl pt seem to be ok

2023-02-02 15:53:15 --- TRADE --- PLACED STOP LOSS 4201,75 PRICE IS 4199,25
2023-02-02 15:53:15 --- TRADE --- PLACED PROFIT TARGET AT 4196,75 PRICE IS 4199,25
Strategy 'RangeBarsIntraday/-1': An Enter() method to submit an entry order at '02/02/2023 15:53:15' has been ignored. Please search on the term 'Internal Order Handling Rules that Reduce Unwanted Positions' in the Help Guide for detailed explanation.
2023-02-02 15:53:15 --- TRADE --- LIMIT Short AWAITING AT 4199,75​

[NinjaTrader_BrandonH]

Hello kujista,

Thanks for your notes.

When creating a managed approach strategy there are some important internal order handling rules to keep in mind. To prevent situations in real-time in which you may have multiple orders working to accomplish the same task, there are some "under the hood" rules that a NinjaScript strategy follows when Managed order methods are called.

Methods that generate orders to enter a position will be ignored if:

• A position is open and an order submitted by a non market order exit method (ExitLongLimit() for example) is active and the order is used to open a position in the opposite direction.
• A position is open and an order submitted by a set method (SetStopLoss() for example) is active and the order is used to open a position in the opposite direction
• The strategy position is flat and an order submitted by an enter method (EnterLongLimit() for example) is active and the order is used to open a position in the opposite direction.
• The entry signal name is not unique

See this help guide page for more information about the Managed Approach Internal Order Handling Rules: https://ninjatrader.com/support/help...rnalOrderHandl ingRulesThatReduceUnwantedPositions