double stop limit before stop order?

[ct]

Sceanrio:

Can I have 2 limit orders and a stop order with the same oco?

Scenario:
currently I want out....
change the target to current price.
Move the stop order to 1 tick down.

I lose an extra tick on ecbot on the stop order.

What I want to do:
I want out...
change the target to current price (same as above)
have a limit order 1 tick under to try and get out 1 at just that price and not 1 tick under.
Then have my official stop order 2 ticks down from where I was trying to get out. I might still lose a tick but tried twice to get out at a better price.

This would never work on the ES because it is too fast and also it doesn't use stop orders (1 tick down).

Can I use the same oco for the target, limit order, and stop order?

Bottom line I am trying to not use the stop order but need it as a fail safe. I also don't want to get multiple orders filled for my exit if I can help it.

I hope my end result is understood. You may have a better solution.

Regards

Cliff

[NinjaTrader_JoshP]

I believe what you want is possible through NT6.5's OnOrderUpdate(). It requires some more advanced programming, but you can check out this reference sample for some help in getting it done. Although the reference sample does not do exactly what you want, but it should suffice in giving you an idea of how to approach it. http://www.ninjatrader-support.com/v...ead.php?t=3917

[ct]

Josh

It was that program that gave me idea I could do it.

Will I need to change "EntriesPerDirection" to 2 to allow for the double unless I use a different name? Pros or cons?

[ct]

Josh

One last question... Where is the 6.5 help?

[NinjaTrader_Ray]

In NT 6.5 select the menu Help > Help

[NinjaTrader_JoshP]

If you use a SetStopLoss() as your reserve stop and you use ExitLongLimit() as your "stop" you don't need to worry about EntriesPerDirection. You only need to worry about EntriesPerDirection if you want to enter the market long/short more than once at a time. For instance, you enter long then 5 bars later you see another entry opportunity before you closed your original long position. EntriesPerDirection lets you add onto your original position.

[ct]

Ray

Do I get a white cane for being so blind?

Cliff

[ct]

Josh

I know it is only a sample but you might want to add the following to your example at the end of OnOrderUpdate:
// If order canceled and 0 quantity reset EntryOrder
if (order.OrderState == OrderState.Cancelled && order.Filled == 0)
{
entryOrder = null;
}

I had an issue where the order was canceled for some reason, no clue why. That left me in a limbo state where no new orders would be generated becuase entryOrder was not null. Drove me nuts till I debugged it.

Regards

Cliff

[NinjaTrader_JoshP]

Great find ct. Thanks for the heads up on that situation. I will make modifications to address those conditions.