Multiple Exit Orders

[Erniel29]

When I automate my strategies, I can never get both Stop and Target
orders entered at the same time. Trade Manager always shows one of the
orders "Order Held Mutilple Exits"

I called TS support and they explained that the Automation Engine
cannot handle multiple exit orders because that would equate to double
the number of open positions, e.g. I go long 1 contract, my Sell Stop
and Sell Target orders would be for 2 positions.

They explained that the Strategy Engine uses an algorithm to decide
which order to have live based on the strategy position. Sometimes
only the Stop order is acive or the Target order, with the latter
situation being extremely dangerous especially on long duration bars,
since it leaves one exposed without a stop. They said there is no OCO
equivalent for EasyLanguage.

Has anyone found a way around this?

Thanks

Ernie

[Steve LeBel]

Ernie,

I have created a number of functions (using macros) to generate OCO orders.
My most common use of them was to create an OCO order that used 1-2 profit
targets while setting up 1-2 simultaneous stop losses. For the most part,
these were triggered by indicators inside a RadarScreen. They would require
some review/recoding to use in a strategy.

Steve

[Mark Knecht]

Ernie,
I won't quibble with the basics of what TradeStation has
communicated to you WRT the platform and automated strategies. It's
pretty close to my understanding although I'm not sure it's _quite_ as
bad as you've been led to believe, but that's not important.

That said, there is one way you could develop a solution for what
you are concerned about, but at this time it's _WAY_ outside of what
Builder does. The way you'd go about this in an EasyLanguage-based
strategy is to using [IntrabarOrderGeneration=true] coding which
coverts the platform's operation from end-of-bar based to tick based.
However you cannot simply add that line to an existing strategy and
expect it to work, and in fact testing that it is working is not for
the feint of heart. It's a LOT of work. However if you want to study
what one solution to your concern is, along with all the things you
have to do to code it up, go check out the TS forums. There's plenty
of info there.

I do NOT think this is the forum to get into any long discussions
on this topic so all I wanted to do here was give you enough info to
go study the topic on your own.

I guess it's an interesting question to Mike that I don't think has
been brought up around here before is whether [IBOG=true] is something
that might someday be on Builder's list of features? If it was I'd
guess it would be long after a lot of other things like multiple data
streams, multiple markets, etc., but it would certainly be
interesting. Raises a lot of issues in terms of data streams for
testing and development, etc.

Cheers,
Mark