Risk management

[ssg10]

Hi,

Does NT have the capabilities to stop trader from trading after certain loss $ or % or # of trades (volume) for the day?

If no, could you give a hint which API I can use to create such risk management tool myself via indicator programming?

Thanks

[NinjaTrader_PatrickH]

Hello ssg10,

Thank you for your post.

While it is not possible to use performance statistics of your account or the day in general, you can use trade performance within a strategy itself.

Using the following example you can create a custom NinjaScript strategy in NinjaTrader that will use the performance of the strategy for money management: http://www.ninjatrader.com/support/f...ead.php?t=4084

Unfortunately, I am unaware of an API that will provide a risk management tool for use with NinjaTrader.

Please let me know if I may be of further assistance.

[ssg10]

Follow up

Hi,

I want to go back to this topic....

The method you suggested below seems to be for specific strategy.

If I want to apply a risk management feature, which regardless of strategy (including discretionary trading), I want to show warning and simply lock and change to simulation mode after %loss of the day is exceeded, how should I do this?

I understood NT does not have this feature, but I want to write a program for it. Do I need to write an external Windows program to connect to NT to do so, or.... ? Any high-level overview what can be done is appreciated...

Thanks

[NinjaTrader_Joydeep]

Hello ssg10,
You can use the GetAccountValue to get the realized PnL. Please refer to our help guide to know more

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?getaccountvalue.htm