How to perform a trader reversal

General Discussions
1

I hope someone here can answer a question. The Chat/AI system doesn’t seem to understand my question no matter how many times I redefine the question.

Per suggestion by NinjaTrader staff back before AI took over, I was told that in order to perform a trade reversal I would have to use the unmanaged order approach. So that is what I’m doing.

My requirement is to define a trailing stop that when triggered not only exits the trade but enters into a new trade in the opposite direction. AI only gives me the option of closing the existing position and creating a new order in the opposite direction, which is fundamentally not what I’m trying to do. I previously asked this question when I was working with FOREX data. At that time NinjaTrader told me that how I could perform this operation was dependent on the server that handles the orders. Forex.com and IB both indicated that I could simply double the lot number of my stop order to perform the reversal.

I have switched away from FOREX and now trade Futures and the server I’m getting data from is NinjaTrader’s. So I need to know the proper method based on their server. Too bad I can’t ask a staffer to answer that question. Hopefully someone here knows the correct approach.

Thanks in advance.

2

NinjaTrader only uses netting accounts, which means if you are short 2 lots and you fire long 4 lots, the position will be reversed. In your case, a trailing stop reverses the position; I think it is better to track executions: if the last closed trade was 2 shorts (and is fully filled), open 2 longs. This will give you more flexibility to add a trigger – when and which trailing stop is to be reversed, supposing you don’t want every one to be reversed.

3

O… I forgot – you can also use the ATM template.