Breakeven and Trailing stops

[jbhansen7]

What I’m trying to do:

In the Static Super DOM…the custom Stop Strategy has a breakeven feature…

Also, as in the Static Super DOM, being able to place an initial Stop Loss that can be replaced by a trailing stop as the trade moves in my direction…

Example of my strategy:

RSI hits 35….enter a long position…with initial stop loss of 8 ticks…if the trade moves against me….get stopped out at 8 ticks…however…if the trade moves with me (say 4 ticks) move my stop loss to my breakeven point (average position price)…if the trade continues in my direction (say up to 8 ticks now) tighten my stop loss to 2 ticks behind current market price….and finally….as the trade continues in my direction (say to 10 ticks)….my stop loss tightens once more to 1 tick behind current market price…

I know you guys know this already….but just to say it…the whole point is to prevent a losing trade as soon as I have even a little profit in the trade….and then locking in the profit with a tighter and tighter margin as the trade continues with me. I can’t simply use a profit trigger because sometimes it will miss out on the bigger moves (leaving money on the table) and sometimes it won’t get profit triggered out, only to reverse and go back all the way down to my stop loss (hence the breakeven feature). I understand and use these features quite well in the Super DOM, but am having a hard time making the strategy automated…

Sorry if this is too long…wanted to be clear. Please help and as always, thanks in advance for your time!

Jonathan

[NinjaTrader_Ben]

Hello,

Thank you for your note.

To do this you will need to mimic the ATM strategy. Since you are using stops and you want trailing functionality, you will need to code out the logic for the trailing stop and tie this into your SetStopLoss() methods. This link will help with the trailing stop:

http://www.ninjatrader-support.com/vb/showthread.php?t=10344&highlight=food+thought

[bkout]

Hello,

Thank you for your note.

To do this you will need to mimic the ATM strategy. Since you are using stops and you want trailing functionality, you will need to code out the logic for the trailing stop and tie this into your SetStopLoss() methods. This link will help with the trailing stop:
http://www.ninjatrader-support.com/v...t=food+thought

This is one of many broken links that now seem to go to a generic Ninja ad page. It's frustrating to search the forum, find what looks like it will be an answer and then have the link go nowhere. Is there a way to correct this or at least prevent further breakage?

[NinjaTrader_PatrickH]

Hello bkout,

Thank you for your post.

This would be a link to our old site.

You can find information on SetStopLoss() at the following link: http://www.ninjatrader.com/support/h...etstoploss.htm

You can find information on SetTrailStop() at the following link: http://www.ninjatrader.com/support/h...ttrailstop.htm

And if you want to use ATM Strategies in your code you can find information on the ATM Strategy methods at the following link: http://www.ninjatrader.com/support/h...gy_methods.htm

For a reference sample on modifying the stop loss and profit target in NinjaScript please visit the following link: http://www.ninjatrader.com/support/f...ead.php?t=3222

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