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Strategy OCO Stop Loss on Chart

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    Strategy OCO Stop Loss on Chart

    I'm working with a programmer to develop a custom NT8 strategy. Our custom code places either a Buy or Sell STP (Stop-Market) Order. It's simple "all-in-all-out" order management that does not scale in or scale out. All trades exit when either the Stop Loss or Trailing Stop Loss price is hit.

    In manual trading with the Chart Trader ATM, I'm used to both the entry and exit appearing on the chart in OCO form. However, with our current code, on the entry displays. I'm concerned that if in live trading NT8 freezes or the Internet connection drops or another similar failure occurs, the stop order will not be residing at the broker. The strategy is designed to trade unattended during most ETH hours and I'm concerned about potential large losses.

    Running in standard Managed Orders mode, can an NT8 strategy place both sides of an OCO order on the chart to enter and exit trades where both reside at the broker in the same or similar as the Charter ATM?

    #2
    Hello kirkvan,

    Thank you for your note.

    No. The Managed Approach will use OCO for Set methods (SetStopLoss(), SetProfitTarget(), etc) but not for Enter/Exit methods.

    To use OCO entry orders, the Unmanaged Approach must be used.

    Here's a link to another forum topic with an example of OCO entry:

    https://ninjatrader.com/support/foru...35#post1084535

    Please let us know if we may be of further assistance to you.
    Kate W.NinjaTrader Customer Service

    Comment


      #3
      Disappointing but understood and appreciated.

      From what I've studied, the Unmanaged approach is complicated and time-consuming, thus expensive when working with a contracted programmer.

      I know my strategy could call an ATM strategy but I don't want to lose Strategy Analyzer's optimization benefits.

      Perhaps I can meet my safety goals by running on my Chicago webserver third-party trade monitoring and auto-recovery tools.

      Comment

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