if a desired profit had been on the entry bar, what options do I have

kaywai

Senior Member

Join Date: Sep 2009

Posts: 980
#1

if a desired profit had been on the entry bar, what options do I have

09-08-2011, 08:19 AM

to exit the trade?

Apart from SetProfitTarget, what other options do I have?

Kay Wai
Tags: None
NinjaTrader_RyanM1

NinjaTrader Customer Service

Join Date: Sep 2009

Posts: 8128
#2

09-08-2011, 08:41 AM

Hi Kay Wai,

You could submit a conditional market order while monitoring your unrealized PnL with GetProfitLoss().

You could also use ExitLongLimit(), ExitShortLimit().

In a backtest/historical: The timing of these orders will be one bar delayed from the entry bar, unless you follow principles in this reference sample to monitor for the entry order execution:

Strategy: Using OnOrderUpdate() and OnExecution() methods to submit protective orders - NinjaTrader Support Forum

http://www.ninjatrader.com/support/forum/showthread.php?t=7499

The OnOrderUpdate() and OnExecution() methods are reserved for experienced programmers. Instead of using Set() methods to submit stop-loss and profit target orders, you can submit and update them manually through the use of IOrder and IExecution objects in the OnOrderUpdate() and OnExecution() methods. The OnOrderUpdate()

In real time with CalculateOnBarClose = false, these orders can be submitted and conditions monitored on the entry bar.

Ryan M.NinjaTrader Customer Service
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