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Resting orders.
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Created: by turkmay Attachments:0

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Resting orders.

  #1 (permalink)
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Resting orders.

As most of you know, NT will not allow 2 resting orders. Why this is the case God only knows. I did receive a horribly difficult to understand work around from NT support. But, as always, am looking for the easy way out.

HERE'S WHAT I WANT TO DO: Place a resting BUY order a few ticks above the opening range and a resting SELL order a few ticks below. The only thing I can figure out is to rest one order and, if it goes the other way, manually fill the other. But I would like to somehow get it automated.

Does anyone have the answer to this delima? I thank you in advance!!!

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  #2 (permalink)
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Are you trying to do an OCO bracket around the opening price?

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  #3 (permalink)
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turkmay View Post
As most of you know, NT will not allow 2 resting orders. Why this is the case God only knows. I did receive a horribly difficult to understand work around from NT support. But, as always, am looking for the easy way out.

HERE'S WHAT I WANT TO DO: Place a resting BUY order a few ticks above the opening range and a resting SELL order a few ticks below. The only thing I can figure out is to rest one order and, if it goes the other way, manually fill the other. But I would like to somehow get it automated.

Does anyone have the answer to this delima? I thank you in advance!!!

You should be able to to place multiple resting orders anywhere using 'Unmanaged' orders because they bypass the NT internal order entry rules. But you will have to code the associated order management yourself.

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  #4 (permalink)
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monpere View Post
You should be able to to place multiple resting orders anywhere using 'Unmanaged' orders because they bypass the NT internal order entry rules. But you will have to code the associated order management yourself.

This is a feature built into the LOM project. One of the main reasons I developed it. Somewhere there was a discussion you might be able to do a similar thing with Managed but I think they had to be sent as OCO pairs or they would be rejected by NT or your Broker.

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Thanks guys. The unmanaged self-coded is what NT support offered but is way above my expertise. I DO want this order sent OCO.

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  #6 (permalink)
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turkmay View Post
Thanks guys. The unmanaged self-coded is what NT support offered but is way above my expertise. I DO want this order sent OCO.

I would recommend using and helping to develop the Unmanaged order class LOM:
https://futures.io/elite-automated-ninjatrader-trading/15563-njamc-local-order-manager-lom-collaboration.html

There is a Wiki as well. I have set a goal of this project to expose complex orders and order management features to less experience programmers. This system is far from debugged and of course it is still under development. I will bring your attention to the following function:
publicbool GoMarketBracket(int m_SharesTraded,int m_TickBuffer,int m_PositionNumber)
publicbool GoMarketBracket(int m_SharesTraded,double low,double high,int m_PositionNumber)

This will create an unmanaged OCO order which triggers a Market order to buy/sell depending upon the trigger. I will likely update this later so you can setup a Limit on the order rather than market.

If you use this system, be careful and test it extensively before risking real money.

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  #7 (permalink)
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There is a system seller named Markus Heikotter who hawks a "Seahawk" scalp method. I once saw one of his promotional videos and it is, basically, a resting long a tick above the current bar and resting short a tick below (oco). He placed these resting orders with a single click. I don't know if this was proprietary but he was running Trade Navigator. I just went to the TG site and their platinum edition ($2495) has a feature called "next bar open" which sounds, sort of, what we're looking for. Don't know if this is any help at all but may be wroth investigating.

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  #8 (permalink)
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NJAMC View Post
I would recommend using and helping to develop the Unmanaged order class LOM:
https://futures.io/elite-automated-ninjatrader-trading/15563-njamc-local-order-manager-lom-collaboration.html

There is a Wiki as well. I have set a goal of this project to expose complex orders and order management features to less experience programmers. This system is far from debugged and of course it is still under development. I will bring your attention to the following function:
publicbool GoMarketBracket(int m_SharesTraded,int m_TickBuffer,int m_PositionNumber)
publicbool GoMarketBracket(int m_SharesTraded,double low,double high,int m_PositionNumber)

This will create an unmanaged OCO order which triggers a Market order to buy/sell depending upon the trigger. I will likely update this later so you can setup a Limit on the order rather than market.

If you use this system, be careful and test it extensively before risking real money.

Just took a cursory look at the docs, that seems like pretty complicated coding. How about having an interface that just duplicates the standard NT methods like EnterLong(), EnterShortStopLimit(), etc. That way it hides the complexities of the system, and presents an interface that is already familiar to the user, similar to how gomi has GomInitialize(), GomOnBarUpdate(), etc.


Last edited by monpere; March 18th, 2012 at 12:54 PM.
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  #9 (permalink)
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monpere View Post
Just took a cursory look at the docs, that seems like pretty complicated coding. How about having an interface that just duplicates the standard NT methods like EnterLong(), EnterShortStopLimit(), etc. That way it hides the complexities of the system, and presents an interface that is already familiar to the user, similar to how gomi has GomInitialize(), GomOnBarUpdate(), etc.

Better to post in the LOM thread I would say..

https://futures.io/elite-automated-ninjatrader-trading/15563-njamc-local-order-manager-lom-collaboration.html

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