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Unmanaged Orders example for NT7


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Unmanaged Orders example for NT7

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 revtrader 
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I was wondering if there were any examples of any unmanaged order strategies for NT7 that place both a buy and sell order and then managed the trade. I am looking to create a strategy that when the strategy identifies consolidation it will place a buy order at the high of the consolidation zone and place a short at the low of the consolidation and then when either order is triggered it cancels the opposite order and places the targets & stops It will then manage the order until complete. Ideally there would be 3 targets

Thanks for your time

Steve

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 KJAVED 
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revtrader View Post
I was wondering if there were any examples of any unmanaged order strategies for NT7 that place both a buy and sell order and then managed the trade. I am looking to create a strategy that when the strategy identifies consolidation it will place a buy order at the high of the consolidation zone and place a short at the low of the consolidation and then when either order is triggered it cancels the opposite order and places the targets & stops It will then manage the order until complete. Ideally there would be 3 targets

Thanks for your time

Steve

You can use OCO orders by using same ATM strategy with three targets .

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 sam028 
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If I understand correctly your problem, their is an easier solution, which I use for this.
Instead of managing two "pending" orders, one for the short side, the other for the long side, is just adding another time frame, 1 tick, and fire market orders when the conditions are met in this time frame.
In this time frame, you will know if you are now on the high of the consolidation(buy), or on the low (sell).

For examples with multiple targets, Hurley , aardvark and sma-ema-hma 3 targets maybe ?

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 revtrader 
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KJAVED View Post
You can use OCO orders by using same ATM strategy with three targets .

KJAVED

Thanks for the suggestion but the ATM's use a manged order tracking and will not allow both a buy and a sell order to be present on the chart at the same time.

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 revtrader 
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sam028 View Post
If I understand correctly your problem, their is an easier solution, which I use for this.
Instead of managing two "pending" orders, one for the short side, the other for the long side, is just adding another time frame, 1 tick, and fire market orders when the conditions are met in this time frame.
In this time frame, you will know if you are now on the high of the consolidation(buy), or on the low (sell).

For examples with multiple targets, Hurley , aardvark and sma-ema-hma 3 targets maybe ?


Sam

This is not an option that I had considered but might be worth looking at. I currently use a Stop market order to get swept into the trade when it moves out of consolidation. I like getting my orders in place as early as possible so I am in the queue. But I would have to look at firing a market order later to see if I would get similar fills or if I would experience more slippage. I have looked at those strategies and I could modify them to place the market orders.

I would like to still investigate the 'unmanaged order' type. I have intermediate programming skills and the unmanaged order I would consider this a advanced programming. So that is why I was looking for an example.

Thanks.

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 fluxsmith 
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revtrader View Post
I was wondering if there were any examples of any unmanaged order strategies for NT7 ...

Here's a strategy I never really finished because it wasn't proving profitable, but it uses unmanaged OCO orders.

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 bukkan 
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take a look at this

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 revtrader 
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fluxsmith View Post
Here's a strategy I never really finished because it wasn't proving profitable, but it uses unmanaged OCO orders.

Thanks Fluxsmith

This example is something I might be able to work with. I will attempt to add a second set of targets to make it a 2 target strategy. But this is a great example to get me started.

Thanks again


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