Change PositionSize when using Managed Approach

[unter821]

Hi there,

I have the following general question:

In the unmanaged approach for order methods there exits the method ChangeOrder(), which obviously allows to change certain characistics of an order (Quantity, LimitPrice, StopPrice).

However I am working with the managed approach and would like to change just the quantity of the order. How can this best be done without closing the order and producing a new one?

By the way to change to the unmanaged approach is not really an option for me, would need a lot of changes I assume. Is that correct?

Best, Peter

[NinjaTrader_PatrickH]

Hello unter821,

Thank you for your post.

You are correct, to change the order with the Managed Approach you will need to cancel the order and then resubmit the order.
For a reference on using the CancelOrder() method please visit the following link: http://www.ninjatrader.com/support/f...ad.php?t=18890

The Unmanaged Approach is reserved for experienced programmers, for more information on the Unmanaged Approach please visit the following link: http://www.ninjatrader.com/support/h...d_approach.htm

Please let me know if I may be of further assistance.

[unter821]

Ok, when I understand the concept correct I have to know already at the point of the entry, how I want to scale out later. In your case I EnterLONG 5 pieces two times to be able to scale out later with 5 pieces each. Is that correct?

What can I do under the following scenario:
- I enter a trade with a quantity of 2
- During the trade my vola decreases and I add 1 quantity having a new total quantity of 3
- For some reason my vola goes up dramatically and have to reduce my quantitiy by 2 to a total quantitiy of just 1

Any way to handle that with the managed approach?

[NinjaTrader_PatrickH]

Hello unter821,

Thank you for your response.

With the Managed Approach each entry would need a specific signalName.

So for your first condition you would enter with two separate EnterLong()s:
if (Condition1)
{
EnterLong(1, "Signal1");
EnterLong(1, "Signal2");
}

And then for your second condition you would enter once more with a specifc signalName:
if (Condition2)
{
EnterLong(1, "Signal3");
}

Then once you need to reduce your quanitity by two, you can exit with the singalName:
if (Condition3)
{
ExitLong(1, "Signal1");
ExitLong(1, "Signal2");
}

For a reference on scaling out of a position using the Managed Approach please visit the following link: http://www.ninjatrader.com/support/f...ead.php?t=3751

Please let me know if I may be of further assistance.