Want a stop when in a reversing type strategy

[ScalperCol]

Hi

I am using the Wizard, and get good results when I trade without a stop.
The strategy is essentially one whereby it goes long until it gets out and then goes short till it gets out and so on.

What I need is a stop order placed, to protect a long or short which goes the wrong way.

99% of the time my strategy will reverse however if something unexpected happens, eg (connection lost, capitulation) I need an ultimate stop.

If this happens I want to be out of the market.

Please help.....this is probably very easy, but not for me.

[NinjaTrader_Bertrand]

Welcome to the NinjaTrader support forums ScalperCol, you can enter your 'desaster' stop on the Stops and Target page in the Strategy Wizard -

http://www.ninjatrader-support.com/HelpGuideV6/Images/NT6StrategyWizard5.png

Here's a walkthrough for all the the wizard screens - http://www.ninjatrader-support.com/H...rdScreens.html

[ScalperCol]

Thanks for that.
I do know how to put the stops in as you suggest, however what happens is the following:

(1)Without a stop in, my strategy takes a long by means of a set condition. Once the signal turns to a short signal, it gets me out, and then takes a short signal. When that turns again to along signal, it gets me out, and then takes a long signal. This continues until I stop the strategy.

If I put a stop as suggested, it doesnt follow my strategy. It gets in on a long, but then doesnt reverse as in (1) above. It seems to be overridden by the stop strategy.

It should be so simple???? Help

[NinjaTrader_Ben]

Hello,


You cannot have opposing positions. There is an internal close operation that automatically closes your opposing position and enters in the other direction.
This link may help:

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?Overview36

[ScalperCol]

Very useful information. Thanks

Could you please outline, how I can setup a daily loss stop that adds unrealized and realized amounts together. If that stop is reached, I want the strategy to immediately stop trading.

[NinjaTrader_Ben]

Hello,

We can't code it for you but I can give you tips if you try and can't get it. These links may help:

http://www.ninjatrader-support2.com/vb/showthread.php?t=4084

http://www.ninjatrader-support2.com/vb/showthread.php?t=4804