SetProfitTarget only if I am in the position.

[Ironman9973]

I would like to set a profti target if the RSI(3,1)[0] >= 75. I tried:

if (BarsSinceEntry() >= 1 && RSI(3, 1)[0] >= 75)

{
double gewinnlong = Close [0];
SetProfitTarget ("", CalculationMode.Price, gewinnlong);
}

My problem is, it sets my profit target, somewhere else.

[NinjaTrader_RyanM1]

Hi Ironman9973,

SetProfitTarget() is more of a toggle than an order command. Whenever you have set a profit target, then it automatically submits a limit order upon entry execution. The value of the order will be the last value that was set, but they can't be unset.

If you wanted to manually control when the order is submitted, you can use ExitLongLimit() or ExitShortLimit()

http://www.ninjatrader.com/support/helpGuides/nt7/exitlonglimit.htm

http://www.ninjatrader.com/support/helpGuides/nt7/exitshortlimit.htm

[Ironman9973]

I cannot use ExitLongLimit because I am using a Stoploss with SetStopLoss. So I have to finde a way set the order only if I am in the position.

[NinjaTrader_RyanM1]

I see. In that case you're right that you would be running into internal order handling rules. For this level of control you'll have to move away from the 'set' method completely, and submit stop orders with ExitLongStop() and ExitShortStop()

http://www.ninjatrader.com/support/helpGuides/nt7/exitlongstop.htm

http://www.ninjatrader.com/support/helpGuides/nt7/exitshortstop.htm

[Ironman9973]

I like the SetStopLoss methode much more, because if my system goes down, I have my StopLoss set.

Is there a possibility to set my profit target only if I am in the position?

[marcow]

I like the SetStopLoss methode much more, because if my system goes down, I have my StopLoss set.

Is there a possibility to set my profit target only if I am in the position?

If not in position, you could set the profittaget to a value which is far above the market so it can never be filled.

 
if (Position.MarketPosition == MarketPosition.Long)
SetProfitTarget("", CalculationMode.Price, gewinnlong)  // set profittarget for long position
else
SetProfitTarget("", CalculationMode.Price, 9999)            //reset profittarget

[NinjaTrader_RyanM1]

Thanks for sharing a possible work around, marcow.

Ironman, the exit stop orders can work the same way as SetStopLoss(). The location of orders doesn't change with either approach. If you wanted to get the same timing on submission, you can submit ExitLongStop() in OnExecution(), following ideas in this reference sample.

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