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Place an opposite limit order as soon as my trade triggers
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Place an opposite limit order as soon as my trade triggers

  #1 (permalink)
Trading Apprentice
Los Angeles, CA/USA
Futures Experience: None
Platform: Multicharts
Favorite Futures: Forex
Posts: 3 since Oct 2016
Thanks: 3 given, 0 received

Place an opposite limit order as soon as my trade triggers

I'm trying to enter two limit orders at the same time one to buy and another to go short. The reasoning behind this is to enter a position and have an opposing position ready on the other side:

if close > close (1) then
buy "LE" 1 contract next bar at limit low;
if marketposition=1 then
sellshort "SE" 1 contract next bar at limit high;

Sorry if the code is not well written but my desired result is that once I get in on the trade with the buy order I simultaneously set an sellshort limit order to be higher in the queue.

Thank you.

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  #2 (permalink)
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  #3 (permalink)
Hamburg Germany
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
Posts: 1,846 since Apr 2013
Thanks: 301 given, 1,130 received
Forum Reputation: Legendary


what is the problem you are experiencing?

From looking at your code, it doesn't "enter two limit orders at the same time", but issues the short order only after the fill on the long is detected.

You might want to take a look at the EasyLanguage Essentials PDF or the help files on how to back reference variables and reserved words as Close(1) might raise a compiler error.



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