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Stop loss / Bid gap down before open
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This is great, thanks. I wasn't aware of those functions.
It looks like a variation of the example provided for these 2 functions may work as well:
I could use an if/else there and either process the stop loss or cancel it. I want to do the same at market open, so that I can wait for volatility to normalize a bit after open.
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Hello bean3178,
Thanks for opening the thread.
You could add some code to change your stop loss or cancel it just before the close of the market. If you are managing your strategy with Order objects, you can use the ChangeOrder() and CancelOrder() methods as needed. Detecting the end of a session can be done using a SessionIterator.
You could also chose a different order type for stop loss. For example a buy-stop-limit or sell-stop-limit order. Investopedia has a good explanation on the implications and uses - http://www.investopedia.com/ask/answ...ystoplimit.asp
CancelOrder() - https://ninjatrader.com/support/help...ancelorder.htm
ChangeOrder() - https://ninjatrader.com/support/help...hangeorder.htm
SessionIterator.ActualTradingDayEndLocal - https://ninjatrader.com/support/help...oniterator.htm
You may also wish to take a look at the SampleOnOrderUpdate strategy for making your own protective orders that can be managed more freely: http://ninjatrader.com/support/forum...ead.php?t=7499
Please let me know if I can be of further help.
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Stop loss / Bid gap down before open
I run a long term strategy that uses a stop loss. I hold my positions across the market maintenance periods, weekends, etc. I'm concerned that a major event will occur while the market is closed and that my order will be filled far below my stop loss. I understand that that the market maker supports banding, which will help protect against large gap downs.
Does anyone have a suggestion for cancelling the stop loss entirely while the market is closed and placing a new stop loss order after the market re-opens? I'd rather have this exposure than exit the order. I also don't want to have to manually manage this due to holidays, etc.Tags: None
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