Multiple entries with 1 exit?

[rihuang22]

Hello,

Is it possible to create a strategy or order to (for example on MNQ):


- enter one contract at 16950
- limit order for one contract at 16940 (10 points below)
- sell stop for both (2) contracts at 16930

I have no knowledge of scripts or coding, please be patient with me. But I really would like to know if this is possible with one click with bid, ask, and mkt. Basically this is to automatically average down a position if it goes against you with a tight 20pt stop from the initial entry. Thank you.

[NinjaTrader_Jesse]

Hello rihuang22,

Yes that is possible, when submitting orders you would submit two entry orders. For the exit you would just submit an exit order with 2 quantity and do not specify a from entry signal name so it can target the whole position.

[rihuang22]

Hello Jesse,

Thanks for the quick reply.

I forgot to mention that I want this done with one click. When i buy or sell bid/ask/mkt, I want all 3 orders to appear (1st entry is executed, the 2nd entry is a limit order 10 points below entry, and the 3rd is a stop limit to cancel both). Is this possible?

[NinjaTrader_Jesse]

Hello rihuang22,

You would need to wait for the entry order to fill before submitting targets for that position. That would be a 2 step process. If you were to try to submit all 3 at the same time the targets would be ignored as there is no position to target. By default if you use the Set methods those are activated when the entry fills so you could still call all 3 orders at once but only the entry will appear.

[rihuang22]

Thanks Jesse,

Is it possible to create this by adding additional targets after a fill with an ATM Strategy? Or is the only way to manually add limit orders as you are in a position?

[NinjaTrader_Jesse]

Hello rihuang22,

You can use the strategy builder to do that task. Using the stops and targets page would let you use the Set methods for targets. I would suggest watching the strategy builder webinar if you are wanting to learn about creating strategies in NinjaTrader. This is a link to that video: https://youtu.be/VxU4FR6GWNA

[rihuang22]

Thank you Jesse, I will give it a look.

[rihuang22]

Hello Jesse,

I watched the whole video and I feel that Strategy Builder isn't quite what I am looking for. I don't need any variables, any MACD crossings or any specific rules pertaining to instrument or price to apply. All I am looking for is to trigger Ninja to place 2 additional buy limits and 1 Sell Stop after one long entry. Again, this is probably possible in Strategy Builder, but maybe it is too advanced and went over my head.

For example, basically I would like to:

Enter Long 1 contract @ NQ 16000 (I manually Buy Bid, Buy Ask, Buy Mkt)

Once the 1 contract is filled, additional orders will appear behind it:

(1) Buy Limit @ NQ 15990 (this order may not get hit, but would lower my average entry price)

(1) Buy Limit @ NQ 15980 (this order may not get hit, but would lower my average entry price)

(3) Sell Stop Limit @ NQ 15970 (taking into initial entry and the 2 additional Buy Limit orders, this would close all 3 contracts in the event price falls further down)

Does NinjaTrader have capabilities in creating something like this? Any step by step guidance would be much appreciated. Thank you for your patience.