Scaling out of a trade...

[BigDog008]

Can the following be implemented via Strategy Wizard? If so, how?

Say I go long a 3 lot in the S&P Emini

Once I'm 2 points in profit, I want to sell a 1 lot

Once I'm 4 points in profit, I want to sell a 1 lot

Once I'm 10 points in profit, I want to sell a 1 lot

[NinjaTrader_JoshP]

In order to scale out you need to scale in first with 3 separate entry orders, each with unique signal names. Then you can tell it to exit each individual one at your various steps.

On the left hand side of the Condition Builder, select Price and select Close. On the right, select Strategy and Average Position Price. Then offset it by the ticks you want. In the middle select whichever comparison you want.

[BigDog008]

how do I set unique signal names? or does ninja trader set them itself?

would signal names be set 1 for example? a bit confused here...

[NinjaTrader_JoshP]

When you tell it to do an order there are parameters you can fill out. One of which is Signal name. Please just type out unique names for each entry order.

[BigDog008]

I tried to do what you suggested and seem to be having some issues..

If Set 1 conditions met:

EnterLong(DefaultQuantity, "Long A");
ExitShort("", "Short A");
EnterLong(DefaultQuantity, "Long B");
ExitShort("", "Short B");
EnterLong(DefaultQuantity, "Long C");
ExitShort("", "Short C");

If Set 2 conditions met:

EnterShort(DefaultQuantity, "Short A");
ExitLong("", "Long A");
EnterShort(DefaultQuantity, "Short B");
ExitLong("", "Long B");
EnterShort(DefaultQuantity, "Short C");
ExitLong("", "Long C");

but I only see orders being placed for entering and exiting A... not B or C

[NinjaTrader_JoshP]

You need to increase the EntriesPerDirection parameter when you run your strategy.

Also, if you already have a long position and then you call EnterShort() it will automatically close out all of your long position and then get you a short position. You will want to revise your code.

[BigDog008]

When I back tested the code, it doesn't seem to auto close the positions... is this a bug? or just something odd I'm doing?

[NinjaTrader_JoshP]

Why would it auto close the position? NinjaTrader never auto closes positions. It needs to be told exactly when to close a position. Whether that is from an explicit exit order or with some "Exit on Close" setting you can choose at strategy start.