Multiple Stops Possible

[samuelg]

Hello...is it possible to have more than two stop losses?...in the below code i have a stop loss of - 3 after 5 ticks, but i also want to have a stop loss at 7 ticks: how can I add an other stop loss? and what conditions can i use?

thank you for your time,


if (Position.MarketPosition == MarketPosition.Flat)
{
SetStopLoss("", CalculationMode.Ticks, 7, false);
}

else if (Position.MarketPosition == MarketPosition.Long)
{

if (Close[0] >= Position.AvgPrice + 5 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice - 3 * TickSize);
}
}

[NinjaTrader_Ray]

Yes you can, you could do this by splitting up your entry order into two orders with unique signal names. You can then call SetStopLoss() twice specifying each unique signal name.

When running the strategy, make sure you set "Entry handling" paremeter to "UniqueEntries".

[samuelg]

Thanx Ray for your reply...and how can i specify each unique name for setstoploss()?


i wrote this code below...and my trades are getting only stopped out. is this how i split the entry order?


if (CrossAbove(MACD(12, 26, 9), MACD(12, 26, 9).Avg, 1)
&& ToTime(Time[0]) >= ToTime(9, 50, 00)
&& ToTime(Time[0]) <= ToTime(13, 0, 0))
{
EnterLong(1, "");
EnterLong(1, "Secondtime for the 2nd stop");
}
if (Position.MarketPosition == MarketPosition.Long)
{if (Close[0] >= Position.AvgPrice + 5 * TickSize){
SetStopLoss(CalculationMode.Price, Position.AvgPrice - 3 * TickSize);
}
if (Close[0] >= Position.AvgPrice + 7 * TickSize){
SetStopLoss(CalculationMode.Price, Position.AvgPrice + 1 * TickSize);
}

}

[NinjaTrader_JoshP]

You can use this overload method for it:
SetStopLoss(string fromEntrySignal, CalculationMode mode, double value, bool simulated)

[samuelg]

i tried this code below, and my stops aren't being triggered and when i choose unique entries - the code is opening two positions each time. I am completely lost...what am i doing wrong?




if (CrossAbove(MACD(12, 26, 9), MACD(12, 26, 9).Avg, 1)
&& ToTime(Time[0]) >= ToTime(9, 50, 00)
&& ToTime(Time[0]) <= ToTime(13, 0, 0))
{
EnterLong(1, "");
EnterLong(1, "Secondtime for the 2nd stop");
}
if (Position.MarketPosition == MarketPosition.Long)
{if (Close[0] >= Position.AvgPrice + 5 * TickSize){
SetStopLoss(CalculationMode.Price, Position.AvgPrice - 3 * TickSize);
}
if (Close[0] >= Position.AvgPrice + 7 * TickSize){
SetStopLoss("Secondtime for the 2nd stop", CalculationMode.Price, Position.AvgPrice + 1 * TickSize, false);
}

[NinjaTrader_Ray]

I can't see at first glance where the logic flaw may be.

- Strip things down so you only have one signal and one stop --> Get this to work
- Then add the next layer of logic
- I would provide unique signal name for each entry

[NinjaTrader_JoshP]

A possible reason as to why it opens two SetStopLoss() for you is because

[SIZE=2][FONT=Courier New][SIZE=2] SetStopLoss(CalculationMode.Price, Position.AvgPrice - [/SIZE][SIZE=2][COLOR=#800080]3[/COLOR][/SIZE][/FONT][FONT=Courier New][SIZE=2] * TickSize)[/SIZE][/FONT][/SIZE]

submits a stop loss for ALL orders and then later on you do another one designed for your unique order. This may be why you end up with your two orders.

[Juanca]

two different stop loss orders

I did what you suggested. However when I set "Entry handling" paremeter to "UniqueEntries", I did get the stop losses that I wanted but at the same time I got into the market on different directions.

So the system show me a long open position and a short open position at the same time. How can I close the long positions if the stop loss has not been hit while opening new short positions?

Thanks for your help.

JCF

[NinjaTrader_JoshP]

Use names for your entrySignals. Are you sure you got a long position and a short position from the same strategy? This shouldn't be possible from within one strategy, but is possible from multiple strategies.

[Juanca]

multiple entries

Hey Josh, thanks for your help.

I am using a strategy that enters the market on 3 different set ups. That is why the system can go long signal # 1 but at the same time short signal # 2. Since the stop didn't hit signal # 1, I am still long while on a short position.

I assume that if I create three different strategies for each entry set up, I wont get this problem. Am I right?

Thanks for your help

JCF

[NinjaTrader_Ray]

Correct, three different strategies would be the desired approach.

[Juanca]

how can I backtest three different strategies

Thanks for your answer.

I will try to create three different strategies to correct the problem. The problem now is how to backtest them. Is there a way to combine three different strategies and backtest them at the same time? I need to do that since strategy # 2 can not go long if I have an open position on strategy # 1 or strategy # 3 or viceversa.

Thanks for your help.

JCF

[NinjaTrader_JoshP]

Unfortunately that is not currently supported.