Trailing Stop Strategy

[John833]

I’m running a strategy with a trailing stop of (for example) 20 ticks on my first contract. My strategy also sizes up, so at a certain point I have 2 contracts, but what I want to do is to tighten my 2 trailing stops so that the cash value of any loss would not exceed the original 20 ticks?
In other words, instead of a trailing stop using points, what I am trying to achieve is a trailing stop using a total unrealized cash amount the strategy can lose regardless if I have more than 1 contract.
Any thoughts would be gratefully received.
Thanks

[NinjaTrader_Ben]

Hello,

You will need to find the value of the 20 ticks in currency then you can use SetTrailStop(...some value here...). This link will help:

http://www.ninjatrader-support.com/HelpGuideV6/SetTrailStop.html

[John833]

Thanks Ben for your reply

I’m looking at the help guide, but I'm still struggling....
So if I want to have a trailing stop in currency, which will exit positions (regardless of size of position) at a specified unrealized loss,
The help guide has:

SetTrailStop(double currency)

So would the code look something like this?

protected override void Initialize()
{
// Sets a trail stop of $1000 regardless of position size
SetTrailStop(double.1000);
}

I don’t seem to be able to get this to work…. Do you have any idea what I am doing wrong?

[NinjaTrader_Ben]

Hello,

Use something like this:

SetTrailStop(1000);

[John833]

thanks Ben for your help, I'll try this out....

Regards

John