Use Alerts To Place Orders

[bc24fl]

My goal is to be able to place an order at a certain price with a stop loss and profit target. This order will stay in place until a target or stop is hit but then I need to recreate that exact same order again. It appears I can do this in Alerts but not sure what rearm I should use. Or can this be done elsewhere (not a strategy). I'm looking for something super simple a kid can do.

[bc24fl]

So for example I want to place a trade when MES 03-21 crosses below a price of 3000 OR MES 03-21 crosses above a price of 2980 and use my ATM strategy. When my target or stop loss gets hit I want to submit the same order again. I'm looking at Rearm but not sure which to select to make this happen. See screenshot attachment.

[NinjaTrader_Manfred]

Hello bc24fl,

There is no way to directly link the filling profit target or stop loss to a new order submission.

While you could theoretically set the alert to rearm "On Condition Reversed", this would only submit additional orders whenever it triggers, without being aware whether any of the targets have been filled.

If the Profit Target and Stop Loss are submitted close enough to the entry, this could work as intended. As the exit order and the alert are not connected, however, it would not be advisable and could lead to duplicate or missing executions.

One option to accomplish this would be with a strategy. Setting this up would not require much more modification than the alert would to work in this way.

Would creating a strategy be no option in this regard?

[bc24fl]

Thank you Manfred. Yes, I already have a strategy that can do this but I wanted to simplify this for a friend who is new at using NT. Thanks!