Entry signals are either long or short depending on the trend line direction of the market at the time. On occasion the trend will reverse direction while I am already in a 2 position trade and an entry signal will be generated in the opposite direction. The order entry price is always at least 2 ticks away from current price. Also the new reverse entry order is always close to the stop loss for the existing 2 positions previously entered so that ideally the new entry can be combined at the same price as the stop and show on the same chart order line. This will close the existing 2 positions and enter the 2 new positions if the tick is hit.
The problem I have is when the second entry order does not trigger but the trend again reverses allowing me to stay in the original 2 positions but I now need to cancel 2 of the 4 positions occupying the same order line on the chart. In other words, how can I exit the new order for 2 and leave the stop loss for 2 in place?
I have been running this trade plan on TradeStation for several months now entering orders via the Matrix (similar to DOM). TS allows partial cancellation of multiple orders combined on the same line so I have not had any problem with order execution except in an extremely fast moving market.
Thanks for your help.
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