One develops a strategy with automated entry and stop loss but no target orders, basically the trader manages where to get out of the trade. If one runs the said strategy and puts in a limit order as cover or target order once it has a position, would that be enough to let the automated strategy know that order is tied to the strategy as a target order for covering?
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Semi Automated Strategy
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Semi Automated Strategy
Could someone explain how this scenario would potentially work?
One develops a strategy with automated entry and stop loss but no target orders, basically the trader manages where to get out of the trade. If one runs the said strategy and puts in a limit order as cover or target order once it has a position, would that be enough to let the automated strategy know that order is tied to the strategy as a target order for covering?Tags: None
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Hello Boonfly8,
Thanks for your post.
With a strategy this will not work because the strategy will maintain its own position and will continue as if it were still in a position even though you close the account position with an opposite side order. The strategy would be unaware of your manual order.
If you want to manually interact with a strategy then you would want to use a ninjascript strategy that works with ATMs. This way when you close the order the strategy position will be in sync with the account position. You can look at the example SampleAtmStrategy in your NinjaTrader which uses special specific ATM methods found here: https://ninjatrader.com/support/help...gy_methods.htm
Paul H.NinjaTrader Customer Service
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Hello Boonfly8,
Thanks for your reply.
"You can look at the example SampleAtmStrategy in your NinjaTrader". The sample is well documented in its code as to what is happening. You can create a copy of it and replace its simple Close[0] >Open[0] entry line (this line: if (orderId.Length == 0 && atmStrategyId.Length == 0 && Close[0] > Open[0])) with your entry criteria. You will also need to create an ATM template that has a stop order and will need to specifically call the template AtmStrategyTemplate.
Paul H.NinjaTrader Customer Service
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