difference between enter long by stop limit order and exit long by stop limit order

[SteveReiza]

can i go long by using enter long stop limit order? or, are my only options enter long position and enter long position by limit order?

[NinjaTrader_Gaby]

Hello SteveReiza,

Thank you for your post.

You can use EnterLongStopLimit() to go long. This generates a buy stop limit order to enter a long position. ExitLongStopLimit() generates a sell stop limit order to exit a long position.

https://ninjatrader.com/support/helpGuides/nt8/enterlongstoplimit.htm

https://ninjatrader.com/support/helpGuides/nt8/exitlongstoplimit.htm

Please let us know if you have any other questions.

[SteveReiza]

thanks for the reply. okay sweet! appreciate the clarification.

[DerkWehler]

If I am using unmanaged approach, I would use order type Buy to go long, or SellShort to go short. For stop loss, I can use:

for Long:
SubmitOrderUnmanaged(0, OrderAction.Sell, OrderType.StopMarket, Position.Quantity, 0, Position.AveragePrice - StopLoss * TickSize, oco, "StopLoss");

and for Short:
SubmitOrderUnmanaged(0, OrderAction.BuyToCover, OrderType.StopMarket, Position.Quantity, 0, Position.AveragePrice + StopLoss * TickSize, oco, "StopLoss");

Correct?


Then for my target exits,

for Long:
SubmitOrderUnmanaged(0, OrderAction.Sell, OrderType.Limit, Position.Quantity, 0, Position.AveragePrice + TakeProfit * TickSize, oco, "TakeProfit");

and for Short:
SubmitOrderUnmanaged(0, OrderAction.BuyToCover, OrderType.Limit, Position.Quantity, 0, Position.AveragePrice - TakeProfit * TickSize, oco, "TakeProfit");

...or should I use OrderType.StopLimit ?