Exiting Entry Orders

[simple_goodoboy]

Hello,

I am using the Strategy Builder to build strategy which uses Order Management.

If I create a condition to Exit a Long/Short position, will order management automatically Cancel the Profit Target and Stop Loss Order?

See attachment.

Thank you

[NinjaTrader_Jesse]

Hello,

Thank you for posting.

I believe in this case the exit order would be ignored.

If a Set method order is active such as SetStopLoss or in the Builder just Stop Loss, this would entail that an order Exiting a position would be ignored. This is one of the internal order handling rules for the managed approach: http://ninjatrader.com/support/helpG...antedPositions

You can use TraceOrders specifically to see errors related to internal order handling rules by checking the TraceOrders box when configuring the strategy.

In this case, you would need to use either only the Entry or Exit orders from the order management options, or use the entries from the order management section and Targets from the targets section.

If this happens to be an exit for the session close condition, you could omit this condition entirely and use the ExitOnSessionCloseSeconds property also.

I look forward to being of further assistance.

[simple_goodoboy]

If this happens to be an exit for the session close condition, you could omit this condition entirely and use the ExitOnSessionCloseSeconds property also.

I look forward to being of further assistance.

Thank you very much.

Yes, I am using EnterLongLimit(), SetProfitTarget(), SetStopLoss() order management created from the Strategy Builder. So per the rules of order management, I can not use Exit.

Questions:

1. I would like the strategy to close all open positions and Cancel all pending orders at 3 pm central each trading day for CME markets. I would like start trading again at 5:30 pm central.
Can I update the follow trading hours for CME session in the attachment below and thats the only change?

2. If yes to question 1, will the strategy be disable between 3pm til 5:30pm and not take trades? If so this is good for me.

3. What does the EOD check box mean in the attachment? What does "Break at EOD" mean in the Strategy Analyzer window settings?

4. Does changing this from 4pm to 3pm in the attachment effect the way the session chart opens? Meaning i would like the strategy/indicators to use the full extending hours prices to display bars.

5. Instead of changing the trading hours of the CME session, can I set ExitOnSessionCloseSeconds to 3600 so open trades exit at 3pm? 3600 seconds is 60 minues
Thank you so much

[NinjaTrader_AlanP]

Hello simple_goodoboy,

If you would like the strategy to not take trades during 3-530PM, rather than doing anything with the session template I would encourage you to write logic in the strategy so that it does not submit trades during a certain time. Please see the following reference example for how to use a time filter,

http://ninjatrader.com/support/forum/showthread.php?t=3226

Regarding EOD, please see the following section of our helpguide, Using the Trading Hours Window,

http://ninjatrader.com/support/helpGuides/nt8/en-us/?using_the_trading_hours_window.htm

For information on what Break at EOD means, I encourage you to pull up the strategy analyzer window, then click F1 on the keyboard, which will pull up the helpguide to the Strategy Analyzer section. From here you would be able to find “Break at EOD” and a description. I have also provided a link to that page below,

http://ninjatrader.com/support/helpGuides/nt8/en-us/?strategy_analyzer.htm

Changing ExitOnSessionClose to 3600 would close your open position 3600 seconds before the close.

Please let us know if you need further assistance.

[simple_goodoboy]

Changing ExitOnSessionClose to 3600 would close your open position 3600 seconds before the close.

Please let us know if you need further assistance.

Thank you AlanP,

If I set ExitOnSessionClose to 3600 seconds before close.

1. Will the strategy cancel all pending orders (from entry limit orders) 3600 seconds before close.

Thanks

[NinjaTrader_AlanP]

Hello simple_goodoboy,

Please see the following link to our helpguide,

http://ninjatrader.com/support/helpGuides/nt8/en-us/?isexitonsessionclosestrategy.htm

Please let us know if you need further assistance.

[simple_goodoboy]

Hello simple_goodoboy,

Please see the following link to our helpguide,

http://ninjatrader.com/support/helpGuides/nt8/en-us/?isexitonsessionclosestrategy.htm

Please let us know if you need further assistance.

Thank you AlanP for help. It makes sense now