order rejected - further handling

[tonynt]

Hello,

I have finished all my scripts and not I´m facing the last problem with executing stops correctly.

a.) If an order is rejected, eg exitlongstop, because of fast move in market and therefore in my script I do
"if (order.OrderState == OrderState.Rejected)
{
exitOrder(1a) = ExitLong(1,"x1a","1a");
CancelOrder(stopOrder1a);
}

would this be the same action as a market-order?

b.) I´m looking for how to do a stop as mar****rder (instead of using setstoploss because of handling restrictions). Is there a stop as market-order with exitlong....() to use instead of setstoploss to have it working as stop-market-order?

Thanks
Tony

[NinjaTrader_JC]

Hello Tony,

A. Yes, ExitLong() is a Market Order.

B. ExitLongStop() will be a Stop Market Order that you may use.

[tonynt]

Thank you for your reply.

A.) OK

B.) Now I´m totally confused.

I thought so that ExitLongStop will be a market order but then I got the information from NT-Patrick:

"Thank you for your response.

That would not be the same as a Market Order. The Stop Market Order only becomes a Market Order once it's price level has been reached."

Thats why I had to ask again (and again, and again?)

So, is ExitLongStop a market order same as Setstoploss or not? You say here it is - thank you for your support by the way - but Patrick says it isn´t.

Thanks
Tony

Hello Tony,

A. Yes, ExitLong() is a Market Order.

B. ExitLongStop() will be a Stop Market Order that you may use.

[NinjaTrader_JC]

b.) I´m looking for how to do a stop as mar****rder (instead of using setstoploss because of handling restrictions). Is there a stop as market-order with exitlong....() to use instead of setstoploss to have it working as stop-market-order?

For question "b" as seen above you asked for an Exit() method that would exit out of a long position using a stop market order. ExitLongStop() will submit a Stop Market Order. SetStopLoss() will also submit a Stop Market Order so they would be basically the same thing, but with the ExitLongStop so you can handle restrictions.

Please view the following link below that goes over the different types of Orders.

http://www.sec.gov/answers/orderbd.htm

[koganam]

Thank you for your reply.

A.) OK

B.) Now I´m totally confused.

I thought so that ExitLongStop will be a market order but then I got the information from NT-Patrick:

"Thank you for your response.

That would not be the same as a Market Order. The Stop Market Order only becomes a Market Order once it's price level has been reached."

Thats why I had to ask again (and again, and again?)

So, is ExitLongStop a market order same as Setstoploss or not? You say here it is - thank you for your support by the way - but Patrick says it isn´t.

Thanks
Tony

Neither is a Market Order. In action, they are equivalent conditional orders. They rest, and each becomes an active Market Order, when and only when the Stop price is reached. It is exactly as NT-Patrick says: "The Stop Market Order only becomes a Market Order once it's price level has been reached." (emphasis mine).

IOW, you need precision in description. Neither is a Market Order when placed. Once their activation condition is reached (i.e., Stop reached), they then become Market Orders.