OCO ATM entry on Breakout

[srvsrv]

I want to setup OCO entry orders when the instrument breaks out of a range.
For instance, ES trading between 1325.25 and 1327.25; I want to enter LONG if ES trades at 1325.75 - or - SHORT if it trades at 1326.75.

Both these orders are STOP orders, OCO, and managed by the same ATM strategy.

PROBLEM:
When I enter the second order I get the following error message:
"You can't submit an exit order to a strategy until any of its entry orders has been filled."

I have tried this in the SUPER DOM and the CHART TRADER with the same result.

How do I set up a managed OCO breakout entry?

Thanks

[srvsrv]

Resolved

I found a work around.
The two entry orders cannot have the same ATM.
I was able to create a second identical ATM, with a different name, and that works.

[sesplin]

I get the same problem. typically I will cancel both orders shut off the oco and try again. More often than not it works. Most of the time, it works without me having to redo it.

[NinjaTrader_VinceB]

Hi Guys,

One of the great features of NinjaTrader is its ability to submit two entry orders, one which will cancel if the other is filled.
You can accomplish a breakout/breakdown approach by:

• Right click in Chart trader and select the menu "OCO Order" to enable this function
• For your first order, select the desired option from the "ATM Strategy" drop down list
• Submit your stop order to buy above the market
• For your second order, select the desired option from the "ATM Strategy" drop down list
• Submit your stop order to sell below the market
• CRITICAL Right click in Chart trader and select the menu "OCO Order" to disable this function

Let me know if this solves your issue

[srvsrv]

My problem is at your 4th bullet point.
Unless a different ATM strategy is selected for the second order, the error message is displayed and we never get to the (critical) bullet point #6 -

A "workaround" to this limitation is to create an different ATM strategy (the menu refers to what is stored as 'templates') which is not a big deal now that I know to do this - eg. using "manage strategy templates' save StratXYZ as StratXYZcpy2.

I suppose my understanding of 'template' or when the template is instantiated is not the same as NinjaTrader's. I have not seen this explained in the manual but then I havn't tried to find answers in the manual since before starting with Version 7, over a year ago.

Please let me know if I'm still missing something.

• 1) Right click in Chart trader and select the menu "OCO Order" to enable this function
• 2) For your first order, select the desired option from the "ATM Strategy" drop down list
• 3) Submit your stop order to buy above the market
• 4) For your second order, select the desired option from the "ATM Strategy" drop down list
• 5) Submit your stop order to sell below the market
• 6) CRITICAL Right click in Chart trader and select the menu "OCO Order" to disable this function

[NinjaTrader_VinceB]

Hi,

This is normal behavior. You always need to reselect the ATM Strategy before submitting your second order.
You will see once the first order is submitted there is an Active ATM Strategy showing. This needs to be changed to a strategy that is not currently active.

[srvsrv]

Thanks for your response, Vince!

I think I now understand what happened that got me confused.

There is an option in the ATM properties: "KeepSelectedAtmStrategyTemplateOn" which changes the behavior to what I expected, and want.
This parameter might have been changed without my realizing it.
There may be there are undesirable 'side effects' in choosing this over "SelectActiveAtmStrategyOnOrderSubmission" - time will tell!

While setting the option to SelectActiveAtmStrategyOnOrderSubmission may be "normal" - it is not necessary so, it isn't necessary to reselect a strategy after submitting an order in order to submit another with the same ATM strategy,

I can enter two or more orders, with or without OCO turned on, without reselecting the ATM strategy. I just hope there isn't something that's going to bite me! I'll be papertrading only with this until I'm confident there aren't any unexpected behaviors.

I find it curious that no one thought to mention this option/parameter since setting the parameter to "KeepSelectedAtmStrategyTemplateOn" results in exactly the behavior I said I wanted (and expected.)
Could it be it was just too obvious to those of you who know Ninja so much better than I do?