In an endevour to save transaction costs, I am rewriting the entrance and exit mechanism of my NinjaTrader strategy. The strategy uses a profit target and a runner for each trade signal. Originally, I was using two orders: orderA with a target, and orderB with no target. But, if I place one prder, and use a limit order to exit 1/2 of the position, I can save on entrance transaction costs.
Over at the NinjaTrader forum, support says this is not possible: link.
Are they correct? Their answer feels incorrect, is not congruent with the rest of NT syntax, and contradicts NT documentation. Unless I am mistaken, I think that I have done this very thing. [Though, I haven't had time to fully test it.]
Am I mistaken, or is NT support mistaken?
Is it time to take the plunge and use NJAMC's LOM?
Anyway. According to a new reply from Ray, this is a known bug. Scaling out using a managed approach works in backtest, but fails in real-time: reference here. Ray says this will be fixed in NT8.
Perhaps this was known on the NT8 threads here at Big Mike's. It was not to me.
