Question on resetting a stopLoss value

[alabell]

In help, I have read:


"· It is suggested to call this method from within the strategy Initialize() method if your stop loss price/offset is static

· You may call this method from within the strategy OnBarUpdate() method should you wish to dynamically change the stop loss price while in an open position

· Should you call this method to dynamically change the stop loss price in the strategy OnBarUpdate() method, you should always reset the stop loss price/offset value when your strategy is flat otherwise, the last price/offset value set will be used to generate your stop loss order on your next open position."


I am calculating a value that will need to be reset as the market moves.

My code currently looks like this:

SetProfitTarget("SellShort", CalculationMode.Price, (Position.AvgPrice - shortProfit));

SetStopLoss("SellShort", CalculationMode.Price, (Position.AvgPrice + shortStopLoss), false);


How do reset said value as mentioned above so that when I flatten i can begin the process completely anew...?

Thanks in advance,

Andrew

[NinjaTrader_AdamP]

Andrew,

You could use something like :

if ( Position.MarketPosition == MarketPosition.Flat )
{

SetProfitTarget("SellShort", CalculationMode.Price, Default1);

SetStopLoss("SellShort", CalculationMode.Price, Default2 , false);

}

[alabell]

Ty Adam,

the obvious question emerges:

Why does setting something to default1 or 2 help my process, and how do I define these values? Isn't that no better than leaving them alone...or is the process actually there to create a condition of "flat" which then becomes false upon new entry?

...so i could make double default1 equal to "1,000,000,000,000"

and double default 2 equal to "0.00003"...?

Do I have this right?

Thanks and regards.

[NinjaTrader_AdamP]

alabell,

The default1 and default2 were just place-holders. You can set these fields to whatever you want. Essentially, the idea is to reset your stop loss and take profit to a default value that you can either setup as a variable or just put it directly where default1 or default2 sit.