Strategy stop orders both directions

[Powerbucker]

Hi,

I want develop a strategy. I need put a stop buy order and stop sell order. When the prices touch the first of them, I cancel the other.

                maxCuartaVela = High[0];
                minCuartaVela = Low[0];

                // Orden de compra y venta stop
                ordenCompraStop = EnterLongStopMarket(1, maxCuartaVela + 2 * TickSize, "CompraStop");
                ordenVentaStop = EnterShortStopMarket(1, minCuartaVela - 2 * TickSize, "VentaStop");
​

But the system throws an error:

Strategy 'XXXXXX': An Enter() method to submit an entry order at '11/28/2024 09:20:00' has been ignored. Please search on the term 'Internal Order Handling Rules that Reduce Unwanted Positions' in the Help Guide for detailed explanation.

How can I do it?

Thanks

[NinjaTrader_Gaby]

Hello Powerbuckler,

Thank you for your post.

It is not supported to go long and short at the same time using the managed approach.

https://ninjatrader.com/support/helpGuides/nt8/index.html?managed_approach.htm#InternalOrderHandl ingRulesThatReduceUnwantedPositions

The Unmanaged Approach would need to be used. Note that you would not be able to enter a long position and a short position at the same time on the same account/instrument. However, you would be able to place a buy stop order and sell stop order tied by OCO to enter a long OR short position. Once one order is filled, the other order would be canceled.

See this forum thread which contains reference samples demonstrating how this could be accomplished using the Unmanaged Approach: https://forum.ninjatrader.com/forum/...25#post1253425

See this help guide page for more information about the Unmanaged Approach: https://ninjatrader.com/support/help...d_approach.htm

[Powerbucker]

HI,

I don't want at same time long and short. I want put an long stop order and short stop order. When price touches the first, the other must be cancelled.

Could you give me a sample?

Thanks

[NinjaTrader_Gaby]

Hello Powerbucker,

Long stop order and short stop orders are orders going in opposite directions. You would need to use the unmanaged approach to place orders going in opposite directions and you could tie them via OCO so one will cancel when the other fills.

See this forum thread which contains reference samples demonstrating how this could be accomplished using the Unmanaged Approach: https://forum.ninjatrader.com/forum/...25#post1253425

[Powerbucker]

it works !!

what's the difference between a managed and unmanaged strategy?

thanks

[NinjaTrader_Gaby]

The Managed Approach has internal order handling rules to reduce unwanted positions.

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

The Unmanaged Approach does not have these rules.

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