exit fill price - exit optimization

[tonynt]

Hi,

sure, this might be the problem, therefore I asked you about your experience and opinion about before I start and getting confused totally, maybe I end in the psychoanalysis of our clinic. My wife already says I´m on the way there since I do coding scripts as a non-programmer.

Best
Tony

Kind of the principle of a Disaster Stop. I am not sure if you can actually manage to get this working with Managed Orders. You can but try, and let us know if it actually works. The log will tell you if the second order is rejected.

Just remember to cancel all orders if you go flat because you get taken out. You do not want to reverse because of your order that is still sitting there, unless of course, you actually do want to reverse.

[koganam]

Hi,

sure, this might be the problem, therefore I asked you about your experience and opinion about before I start and getting confused totally, maybe I end in the psychoanalysis of our clinic. My wife already says I´m on the way there since I do coding scripts as a non-programmer.

Best
Tony

Unfortunately, I have never coded that particular scenario, as my Disaster Stop is never used to take profits, and is only used in my Stop&Reverse strategies, where there are no actual Stops or Targets for individual trades, but we cannot let a trade be too big a drawdown. That is why I suggested that you code it, and let us know if NT actually lets you place 2 exit orders onto a single trade. I seem to remember that NT refuses to let it be done with Managed Orders.

Actually reading the exact verbiage, quoted below, it would appear that the last listed condition (emphasis mine), would preclude what you describe.

Methods that generate orders to enter a position will be ignored if:

•A position is open and an order submitted by an exit method (ExitLongLimit() for example) is active and the order is used to open a position in the opposite direction
•A position is open and an order submitted by a set method (SetStopLoss() for example) is active and the order is used to open a position in the opposite direction
•The strategy position is flat and an order submitted by an enter method (EnterLongLimit() for example) is active and the order is used to open a position in the opposite direction
•The entry signal name is not unique

Methods that generate orders to exit a position will be ignored if:

•A position is open and an order submitted by an enter method (EnterLongLimit() for example) is active and the order is used to open a position in the opposite direction
•A position is open and an order submitted by a set method (SetStopLoss() for example) is active

Set() methods that generate orders to exit a position will be ignored if:

•A position is open and an order submitted by an enter method (EnterLongLimit() for example) is active and the order is used to open a position in the opposite direction
•A position is open and an order submitted by an exit method (ExitLongLimit() for example) is active

[tonynt]

koganam,

yes with exitlong() you can exit immediately, but how you use this as a stop to get out immediately as you write. The discussion is about properties of exitlongstop?

And what would you use here for "???" in ExitLongStop(0, true, Position.Quantity, ???, "Stop1", "M1");

to avoid the problem you describe that can occur in fast moving market and to have it working as a market order (with same quality as setstoploss?)

Best
Tony

Kind of the principle of a Disaster Stop. I am not sure if you can actually manage to get this working with Managed Orders. You can but try, and let us know if it actually works. The log will tell you if the second order is rejected.

Just remember to cancel all orders if you go flat because you get taken out. You do not want to reverse because of your order that is still sitting there, unless of course, you actually do want to reverse.