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View Full Version : Consolidating multiple stop-loss/sell lmt orders


EvolveK
10-19-2007, 02:47 PM
Hi,

I have been executing an automated strategy via IB for about a week now. For the position entry, I use limit orders. The issue is this:

As the entry limit order is filled, multiple pairs of profit-taking limit/stop-loss orders are placed by NT. This can lead to very small order sizes.
Based on the IB commission scheme, this is not efficient, since the minimum commission is $1.Can I either
a) get NT to delete the old orders and place a new consolidated pair of profit-taking limit/stop-loss order, or
b) have NT not place these piece-wise order pairs at all, and place just one pair of profit-taking/stop-loss orders, once the entry order has been worked off in full?

Thanks and best regards!

NinjaTrader_Ray
10-19-2007, 07:51 PM
When you run the strategy, there is a parameter named "Stop & target submission". Set this parameter to "ByStrategyPosition". This will only submit one order that is ammended as partial fills come in.