Creating Stop & Target for unmanaged orders

[lahmannjohn]

Hey Forum!
Using unmanaged orders, how do I specify which order my OCO Stop/Target bracket orders belong to? Say I submit Order 1 and it gets filled, I create a stop and target to go with it. Then, while Order 1 is still open, I submit Order 2 and it gets filled. I create a Stop & Target to go with Order 2. The problem is, if Order 2's stop or target is hit before Order 1's stop or target, it closes out order 1 instead of Order 2. I've attached some pics showing this. I wrote "1" and "2" next to each order's entry, stop, and target position. In this example, Order 2's stop is hit before Order 1 hits it's stop or target, closing out Order 1 instead of Order 2. How do I fix this?

[NinjaTrader_Jesse]

Hello lahmannjohn,

There is not a way to link entries and exits in the unmanaged approach like there is with the managed approach and the signal name system. You are in complete control of the orders with the unmanaged approach. The only way to avoid that would be to price the targets so that the first orders targets fill first so it can be paired with that entry in the reporting.

[lahmannjohn]

Hey Jesse,

Thanks for the reply. I would use the managed approach except there will be times when I have orders open in both directions. As far as I understand, I can't have orders open in both directions in the managed approach. Is that correct?

[NinjaTrader_Jesse]

Hello lahmannjohn,

Yes that is correct, only the unmanaged approach allows you to be in complete control of the orders.