Maximum drawdown question

[pandyav]

I am trying to add a risk mgt criteria to my strategy and would like to do the following.

-- If I have 3 losing trades in a row (they could be on the same day or over a number of days), I'd like to pause any further trading for next 5 trading days (i.e. excluding weekends).

Is there a way to accomplish this in NT? This will directly help anyone to manage the maximum drawdown. Has anyone faced this kind of problem before?

Many Thanks.

[NinjaTrader_AdamP]

pandyav,

I am happy to assist you.

We have a reference sample you could use to adapt to your needs.

Here is the link : http://www.ninjatrader.com/support/f...ad.php?t=19289

Please let me know if I may assist further.

[pandyav]

Thanks AdamP.

Looks like I can use the following code to check if last three trades had a loss. What I am not sure about is how can I pause the strategy for next 5 days and activate automatically if there were three consecutive loses. Is there a function or code I can look into for that? Very much appreciate your help.

for (int idx = 1; idx <= 3; idx++)
{
/* The Performance.AllTrades array stores the most recent trade at the highest index value. If there are a total of 10 trades,
this loop will retreive the 10th trade first (at index position 9), then the 9th trade (at 8), then the 8th trade. */
Trade trade = Performance.AllTrades[Performance.AllTrades.Count - idx];

/* If the trade's profit is greater than 0, add one to the counter. If the trade's profit is less than 0, subtract one.
This logic means break-even trades have no effect on the counter. */
if (trade.ProfitCurrency > 0)
lastThreeTrades++;
else if (trade.ProfitCurrency < 0)
lastThreeTrades--;
}

[NinjaTrader_AdamP]

Pandayav,

Essentially when this condition occurs you can have a counter reset, then wait for a new day for each increment, once it hits 5 you can allow trading again.

Please let me know if I may assist further.