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I'm looking to do a buy with a stop-limit order, then have a stop-loss market order and a limit order at my target. My question is what's the best practice for executing this reliably, and when either the target or stop-loss is reached, do I cancel the other order?
When I do the following: (within OnData())
if not self.Portfolio.Invested:
self.stopLimitTicket = self.StopLimitOrder(self.stock, 100, entryStop, entryLimit)
self.stopMarketTicket = self.StopMarketOrder(self.stock, -100, stopLoss)
self.limitTIcket = self.LimitOrder(self.stock, -100, targetLimit)
I run into issues of some orders being invalid, and I'm worried that the stops remain in place if the limit order is filled, i.e., the two orders aren't syncronized.
Shile Wen
Hi Michael,
Because a StopLimitOrder is not filed immediately, I suggest moving the StopMarketOrder and LimitOrder to OnOrderEvent. Then I suggest checking for filled orders in OnOrderEvent, and when one order is filled, cancel the other order by calling .Cancel on the OrderTicket object returned by an order method.
Best,
Shile Wen
MichaelRoberts137
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