Scaling in and Scaling out question regarding commissions

[MicroTrends]

Scenario:

A trader wishes to place 4 lots and scale out with 4 targets.

Current Implementation
Scale in with 4 entry orders all with unique signal names
entryOrder = EnterLong(1,trade1);
entryOrder2 = EnterLong(1,trade2);
entryOrder3 = EnterLong(1,trade3);
entryOrder4 = EnterLong(1,trade4);

Scale out with with 4 Profit Orders
SetProfitTarget(trade1,CalculationMode.Ticks,targe t1);
SetProfitTarget(trade2,CalculationMode.Ticks,targe t2);
SetProfitTarget(trade3,CalculationMode.Ticks,targe t3);
SetProfitTarget(trade4,CalculationMode.Ticks,targe t4);

This is a great way of doing it in terms of simplicity and robust coding.

1st Question will this incur 4 times the charges as 1 Entry order with 4 targets?

Ideal Scenario - new method suggestion
entryOrder = EnterLong(4,trade1);

Scale out with with 4 Profit Orders
SetProfitTarget(trade1,CalculationMode.Ticks,1,tar get1);
SetProfitTarget(trade1,CalculationMode.Ticks,1,tar get2);
SetProfitTarget(trade1,CalculationMode.Ticks,1,tar get3);
SetProfitTarget(trade1,CalculationMode.Ticks,1,tar get4);

2nd Question:
if that was a new method is that scenarion supported by the exchanges/brokers? 1 entry and multiple exits?

[NinjaTrader_Tim]

Hi MicroTrends,

To scale out, you must scale in, as in this sample - http://www.ninjatrader.com/support/f...ead.php?t=3751

With NT7, you have the option to use an Unmanaged approach, which would allow you scale out without scaling in.
More info at - http://www.ninjatrader.com/support/h...d_approach.htm

[MicroTrends]

Hi Tim

As detailed the sample is already using the very robust and useful pattern you refer to - Yes I realise there is an unmanaged approach - however overfills, rejections and connection losses make it easier to use the intrinsic order management provided by NinjaTrader. I guess the real purpose of the post was to discuss commission charges - and to assess if 1 entry and multiple scale outs are supported by all broker connections etc.

I think that the answers will be:
For 4 entries and 4 exits: 1st Question will this incur 4 times the charges as 1 Entry order with 4 targets?
For futures and forex this will not have an effect as they are chargeable by the unit - i believe though that stocks maybes be adversely effected by multiple entries...

2nd Question
answer
The suggested method would make life a lot easier for those less knowledgable with their coding experience and technical level.

It would seem that this feature of 1 entry and multiple scale out implemented by an unmanaged route is supported by all brokers if one considers how an atm strategy can provide this functionality :-)

thank you for listening :-)

[NinjaTrader_Bertrand]

MicroTrends, correct for futures it would not matter, for FX and stocks it would really depend on the individual broker and their commission schemes used.

Yes, the all in / scale out approach is supported by the broker and exchanges, however for working with the Set methods and NT signal tracking you would need to scale it first to be able to scale out later on.

[MicroTrends]

Hi

That will be absolutely fine for now. Although my internal geek would love to re-invent the wheel and use the unmanaged approach - the strategies will need to be able to place up to 1000 futures contracts in one block order -so i need to make sure robustness and commissions are all thought of. The intrinsic managed ordering is the way forward... Perhaps a method suggestion would be one for the setProfitTarget - which will allow single named signal entry and multiple exit for one entry signal name- using the managed api... Thank you for your time and feedback...