Adjusting Scalping Amount

[cboat]

I was wondering if there would be any way to adjust my scalping amount depending upon how much slippage I suffer from. My Strategy updates using limit orders. What I would like to do is set the scalp amount a certain distance away from the price that initially received the entry signal.

[NinjaTrader_Austin]

cboat, could you please clarify what you mean? You can place limit orders at whatever price you want. If you get a signal at a certain price, you can just save that price and submit an order +/- some distance.

[cboat]

I understand that. An example would be that my strategy gets it's entry signal at 1.00. Yet due to slippage I do not get a position at 1.00 rather 1.05. Now if my scalp amount is set to 10 cents, is there a way to reduce my scalp by the amount of slippage I had. I.E. .05

[NinjaTrader_Austin]

cboat, I'm not quite sure what you mean by "reduce my scalp". If I'm interpreting you right, you could create some DataSeries/array of desired fills vs actual fills to get an average slippage and then offset your entry by that amount.

[cboat]

i'm sorry i didn't mean "scalp" I meant to say profit taking. And if it is at all possible i would like to run this part of the strategy on every order rather that taking an average.

[NinjaTrader_Austin]

Then yes, that is definitely possible. You just have to call SetProfitTarget() with the appropriate arguments.

[cboat]

is there a way to set my profit target against the close of the previous bar instead of the open of the current bar?

[NinjaTrader_Austin]

cboat, yes, you can reference the previous bar's close with Close[1]:

double prevClose = Close[1];