Automated Order Management

[billr]

I have a strategy that in some circumstances could trigger both an Exit Short Position and Enter Long Position (and the reverse case also). When this happens, I want to end up with the same result as if the Exit signal didn't trigger. How does NT7 handle this?

[NinjaTrader_Tim]

Hi billr,

Thank you for your post.

NinjaTrader will handle orders per the Interal Order Handling Rules at - http://www.ninjatrader-support.com/H...tml?Overview36

With NinjaTrader 7, if you don't want these rules to apply, you can use the Unmanaged Approach.

[borland]

Why would you want to cancel your Exit Short trigger and go Long? What's behind this strategy, besides locking in gains or limiting losses?

My system strategy uses fuzzy logic, so on rare occasions, I have a simultaineous entry and exit triggers. So in this case it's a good idea to limit the number of round trips or you could have a runaway condition with hundreds of trade executions.

I've resolved these rare triggers with logic that considers the trade date and adjust the exit conditional logic on the date of entry. So the exit trigger criteria is similar, but adds slightly with more risk on the entry day than in the days following the trade.

[billr]

Hello Borland and thanks for your reponse,

I am running what amounts to a live test of a NT7 automated trading forex with MBTrading. i.e. lots of untested moving parts (For me at least. I just recently migrated to NT from Tradestation.)

The simple strategy includes what amounts to a trailing stop and re-entry feature that is triggered in part, by a fast simple moving average. Also, my strategies are based on Price at Close and designed to always be in the market either long or short, so the main trading signals are to reverse my position. Under certain conditions, I would like my position to go flat to, as you suggested, lock in profits or prevent further losses. Since all the signals are based on Price at Close, it is possible that these conditions could coincide with my main position reversal signal. In this case, I wasn't sure what the built in order logic would do in the event both signals triggered.

The documentation wasn't particularly clear on how order types are processed.