Setting initail Stop Loss

[rhobbo1]

Can I get some help with setting an initial stop loss for entries, and to set a trailing stop also please.

I want to set a stop at the low -1 tick for longs and the high +1 for shorts.

I want to trail a stop if the market moves in the direction of the trade e.g. Long trade...set trailing stop at the 3rd last low. Short trade... set a trailing stop at the 3rd last high.

The area I'm having trouble is the values between the brackets SetStopLoss(). I'm not clear on the correct values to place here.

Thanks in advance,

Rob

[NinjaTrader_Ray]

Likely something like -

SetStopLoss(CalculationMode.Price, Low[0] - TickSize);

See the following as well for additional guidance - http://www.ninjatrader-support.com/v...ead.php?t=3222

[rhobbo1]

Thanks for your reply and help Ray.

Can you expand on your reply a little please.

How does the program determine if...

{
SetStopLoss(CalculationMode.Price, Low[0] -1);
}

is for the longs or shorts?

Do I need to name the long entires something like "Enter Long" and the short entries "Enter Short" so that the program knows what stop goes with what entry? And if so how does that change the code?


Also does this code need to go in a particular area and be assigned a particular class?

[NinjaTrader_JoshP]

If you wish to differentiate between longs and shorts then you will need to name them and submit a SetStopLoss() that is tied to that particular name.

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

So for your SetStopLoss you would do something like:

SetStopLoss("Longs", CalculationMode.Price, Low[0] - 1 * TickSize, false);

Please also check out these reference samples: http://www.ninjatrader-support.com/v...ead.php?t=3225

http://www.ninjatrader-support.com/vb/showthread.php?t=3751