is it meaningful to include in a line of code If (BarsSinceEntry() == 0)

[kaywai]

How does NT7 recognise the bar a new position was made?

Alternatively, would this line of code be better:-

if (Position.AvgPrice > 0)
{

}

Regards

Kay Wai

[NinjaTrader_Matthew]

Hello kaywai,

Thank you for your post.

BarsSinceEntry would indicate that a new bar has formed.

Checking for the Avg Price change would not necessarily be helpful if the price has not changed since your entry, but a few bars have formed.

[kaywai]

Cool Matthew. What would be the best way to put in a stop loss at the first instance if the stop loss is based on the entry price and we assume the entry price is filled at market.

How should i code it?

Kay Wai

[NinjaTrader_Matthew]

KayWai,

You would need to check with the entry is seen as filled by NinjaTrader. This is checked in OnExecution().

You would need to check this method to check the the stop loss in the first possible instance:

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?onexecution.htm

[kaywai]

Hi Matthew,

I've taken a look at the example in the manual and the example provided here.

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?onexecution.htm

This would work fine if the position was flat. What would I do in circumstances where I go from long to short immediately as in, if I were in a long position and the trigger for a short position occurs, the code would be to EnterShort() to switch from a long to short position.

I'm not trying to over-complicate things but these are issues which cropped up when I went over the backtesting results. If it is at all possible, I'm just looking for simple workarounds.

Regards

Kay Wai

[NinjaTrader_Matthew]

Kay Wai,

I'm sorry I'm not follow - why would this not work when you went from long to short? If your position is reversing, this is a new execution and you should be able to use the same methods you were using before.

Can you detail what issue you ran into when using this in that scenario?

[kaywai]

Hi Matthew,

In the onbarupdate section, the line of code writes.."if Entryorder == null.....entryorder == enter long();

If I am already long, is entryorder null? Or should there be 1 entryorder for long and another for short?

Kay Wai

[NinjaTrader_RyanM1]

Kay Wai,

Best practice here is to reset order objects to a null state when they are filled or cancelled. So the entry object reference can be null even while you are still in a position.

You should have a uniquely named object for each unique order statement. It is not a good idea to use the same named object for long and short enter methods.

[kaywai]

Hi Ryan,

1 issue come to mind.

if I were in a long position, and I reset the "long" order object to the null state, AND I get another signal to go long, I would have an extra position, no?

regards

Kay Wai

[NinjaTrader_Matthew]

Kay Wai,

In addition to your entry condition, you will want to check for current market position. Ensure you are currently in a flat position before entering another long.