cut and reverse

[arilano]

hi again !

basically i want to be able to cut and reverse positions, this works fine on the sim but live is another story.

say im short, i basically want to exit the short at market and then go long at market

when the condition is met
{
ExitShort(); // exit short positions @ market and is ignored if none exist
EnterLong();// initiates new long @ market
}

should do it but it doesnt

it goes long effectively closing the position but then start working a buy stop order about 20 ticks above the market which isnt really of much use, If i just use EnterLong() it does exactly the same thing

and the strategy thinks it's long when it isnt

i get this in the log file
30/01/2008 16:59:58 Default Cbi.Order.Cancel: exception caught: Value cannot be null.

any help would be greatly appreciated

[NinjaTrader_Dierk]

- no need to exit the short position. NT does this for you as you enter a long position
- please make sure you are on latest 6.5.0.8

[arilano]

yep im deffo on the latest installed it yesterday

i knew that it should exit for me but its using limit orders instead of market and the limit price is way off, is there anyway you change this or would i have to modify/override the NT method?

i think its using buy to cover to get out of the short and hence placing a long limit order at distance the stops are set to from the position when the system tried to cut and reverse

[NinjaTrader_Dierk]

NT closes the position with the same order type which you use to enter a new position. If you dislike this default behavior, then you would need to close out your position by custom orders (e.g. a market order).

[arilano]

but i use market orders to get into all my positions, i think its using buy to cover and placing a limit order the stop distance away from where the cut and reverse was triggered

[NinjaTrader_Dierk]

Let me rephrase:
NT closes the position with the same order type which you use to enter the new crossing over position.

[arilano]

sorry dierk i think im being abit dense, the new crossing over position is a market buy but its not exiting the existing short at market, instead i find a stray limit order miles away from the current bid/offer i think this is the exit order and the order that is actually flattening it is the new long market order

:S

[NinjaTrader_Dierk]

Not sure I follow. If the enter order on the opposite side of the market is a market order then the closing order for the existing position (marked as "Close position") will be a market order too and not a limit order.

If you see a limit order then this must have been places by some other logic of your strategy in which event I suggest starting basic as possible in order to understand what's going on.

[arilano]

ok dierk thanks

thats what i thought the behaviour should be but i think ive got other issues, ive backed up my source code and im gonna reinstall the new beta again see if that helps, if not would it be possible to be supplied with the previous beta?

ill get back to you if i need anymore help
thanks again

[NinjaTrader_Dierk]

Unfortunately previous betas are not available.

[arilano]

i think itll be alright after a complete fresh install and compilation
i'll resurface if im still having difficulties thanks again