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Internal Order Handling Rules

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    Internal Order Handling Rules

    Why do I get this "Internal Order Handling Rules" Error (NT8b10):

    e.g. the current Bar (Low/High) is above the Min and below the Max price and I want to set 2 stop orders:

    EnterLongStopMarket(0,true,2,Max,"Long");
    EnterShortStopMarket(0,true,2,Min,"Short");

    The second Order gives the above error, but why? Shouldn't I be able to place 2 Stop Orders above and below the current bar price?

    Thanks in advance,
    Oliver
    Last edited by Lord Devil; 04-11-2016, 08:09 AM.

    #2
    Hello Lord Devil,

    As a reference for this discussion, I am including a quote from the NinjaTrader 8 Help Guide section on the Managed Approach for Order Entry

    Originally posted by http://ninjatrader.com/support/helpGuides/nt8/en-us/managed_approach.htm
    Methods that generate orders to enter a position will be ignored if:
    ...
    The strategy position is flat and an order submitted by an enter method (EnterLongLimit() for example) is active and the order is used to open a position in the opposite direction
    To clarify, would you like me to request that the product management team update this rule? If this is so, what is the desired behavior? I am including another excerpt from the same section which outlines the goals of the "under the hood rules" :

    Originally posted by http://ninjatrader.com/support/helpGuides/nt8/en-us/?managed_approach.htm
    To prevent situations in real-time in which you may have multiple orders working to accomplish the same task, there are some "under the hood" rules that a NinjaScript strategy follows when Managed order methods are called. For example, if your strategy had a limit order for 1 contract working as a Profit Target, but then your strategy was also programmed to reverse the position at the price very close to the target limit order, then submitting both orders can be risky, since it could lead to a larger position than the strategy is designed to enter if both orders got filled in quick succession by the exchange
    In the meantime, and as a potential work-around, please note that these rules do not apply to regular market orders.
    Jessica P.NinjaTrader Customer Service

    Comment


      #3
      Well but why can't I create a Stop Order in both directions? Surely once an order get filled I would cancel the other order - but for me its unclear why this is not possible?

      In normal trading you may want to create 2 orders too. E.g. one at the top and one at the bottom (think of outbreak strategies) - maybe as OCO so if one get filled the other gets cancelled.

      So how could I create a strategy where I need to place 2 Stop orders one buy stop above the price and one sell stop below the price?

      Comment


        #4
        At this time, you must use the unmanaged approach to accomplish what you are attempting within a single tick or bar. I am including a link to the help guide section on the unmanaged approach. The most important thing to take away from this page, is that the Unmanaged property must be set to true.

        https://ninjatrader.com/support/help...d_approach.htm

        I am also including a help guide page on the SubmitOrder method. You will want to use OrderType.StopLimit as your third parameter when calling this method.

        https://ninjatrader.com/support/help...ubmitorder.htm

        If you would prefer, as a feature request, a new rule or method for managed orders entering these types of stop market orders, keeping the goals of the Internal Order Handling Rules in mind, I will be happy to forward your suggestions to the product management team.
        Jessica P.NinjaTrader Customer Service

        Comment


          #5
          Thanks for the heads up... well I have switched now to the unmanaged approach - to be true this is much more clear and easier to understand for me than the managed approach was . So I guess I am fine now and I will go this route.

          Kind regards,
          Oliver

          Comment

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