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Automated Trading Support for automated trading systems using NinjaScript. Support for our ATI (Automated Trading Interface) used to link an external application such as TradeStation and eSignal to NinjaTrader.

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Old 04-09-2011, 12:25 PM   #1
SeaTrader
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Default Entry order and exit management

I currently have a program setup to enter with 5 trades and I have those paired with 5 different profit targets. However, in an effort to control my commissions, I would like to enter with one large lot and exit with 5 independent lots each with their own profit targets. I'm sure there is a way to do this but it evades me. Any suggestions would be appreciated.

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Old 04-09-2011, 12:28 PM   #2
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SeaTrader, to scale out of a position, you will first need to scale into it.
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Old 04-09-2011, 12:57 PM   #3
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So does that mean that NT prevents that type of order management or is it that you're not aware of any way to do that. I've always lived by the idea that anything is possible with software. Your only limit is your mind.
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Old 04-09-2011, 07:33 PM   #4
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SeaTrader, if you move to the unmanaged side of things, you will definitely be able to submit one large opening order and scale out, but you can't use methods like SetProfitTarget(). It is a bit more complicated to use unmanaged (set Unmanaged = true in Initialize() of your strategy), but it offers much more flexibility because NinjaTrader doesn't rule against any of your orders with the Internal Order Handling Rules or anything like that. Here is a link for getting started with Unmanged.
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Old 04-10-2011, 07:44 AM   #5
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Thank you very much.
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