Set Time to Trade?

[Dolfan]

I would like to develop a strategy that will place a long position and a short position on the same chart at a given time (just before market news) with the express intent of capturing the sudden albeit brief moves when they happen. I mostly use Market Wizard, although I am starting to get comfortable (dangerous) with my own programming. Can I do this in a single strategy? If not, can I make a strategy for a long entry and one for a short entry and run them both on the same instrument at the same time? I know that I can place these orders manually so it would seem reasonable that it can be done in a strategy.

More specifically it would need to;

1. Place trades on a certain day
2. Place Limit orders within a few ticks from the current price at a specified time of said day. (for example the long order is placed 5 ticks above current price at time specified, short order would be 5 ticks below current price)

Thanks in advance for your assistance.

Best regards,

Dolfan

[NinjaTrader_PatrickH]

Hello Dolfan,

Thank you for your note.

It would be possible through the use of one strategy for short and one strategy for long.

Are you attempting to have both strategies in the market at the same time or bracket the market on both sides for an entry on which is hit first?

[Dolfan]

I would want to bracket the current price on both sides and have which ever one hit first cancel the other, (or not). Sometimes the price will swing wildly in both directions and if the profit target is modest, it is possible to get a double win. Thanks!

Best regards,

Dolfan

[NinjaTrader_PatrickH]

Hello Dolfan,

Thank you for your response.

In the Managed Approach it would not be possible to have two resting orders for opposite positions due to the internal order handling rules at the following link: http://ninjatrader.com/support/helpG...d_approach.htm

It is possible through the Unmanaged Approach, but this would involve advanced programming and handling of orders. More information at the following link: http://ninjatrader.com/support/helpG...d_approach.htm

However, you could set up conditions in the Managed Approach to monitor the two price you want and when one is crossed then submit the order appropriate to that price level and cross.

Please let me know if you have any questions.

[Dolfan]

I would like to go back and revisit this question as I don't think it was answered either because Ninja is simply not capable or I didn't explain myself clearly.

I am not opposed to unlocking the code and managing it manually if need be but the links provided didn't explain how one handles timed entries as my question asked. In looking at the Wizard, I see that there are settings for timed entries;
1. Date value
2. Time series
3. Time value
To me, and correct me where I am wrong, I should be able to create a condition here whereas the "Time value" would be equal to a "MyInput" which is configurable when setting up or editing the strategy before enabling. Would this be a correct assumption?

http://screencast.com/t/HunQHQoQF

If this is true, could I then continue the Set1 to place a limit order at this precise time at X number of ticks above the last price at that precise time? The next Set2 would use the exact same settings except placing the order X number of ticks below the last price at that precise time. I would then like to link the 2 orders together with and OCO command whereas it the price moves through a target and opens an order, the other order is canceled.

It seems to me that as sophisticated as Ninja is, this would be easy to accomplish. Witness here a screenshot of an order entry panel for Rithmic where the orders can be timed precisely with offsets, limits, stops, etc. Targets and trailing stops are handled in the bracket config screen not seen here.

http://screencast.com/t/I6oxkox1SZ

Handling timed entries in Rithmic is remarkably easy, so much so that I must say I would be shocked if Ninja doesn't have the capability.

I look forward to a solution.

Best regards,

Dolfan

[NinjaTrader_PatrickH]

Hello Dolfan,

Thank you for your post.

What you wish to do would require unlocking the code. You can find an example of entering on one time and exiting on another at the following link: http://ninjatrader.com/support/forum...ead.php?t=5787