Money Management Coding

[wiguidry]

Can a script be created that will allow one to enter the number of ticks risked and have the contracts for any new open position and the stop to be automatically entered upon opening a trade? For example:

1. A registry entry will hold the risk parameter (let's make it simple and say some % of account value).
2. A registry entry will holda benchmark price with which to determine how faraway the currentmarket price is. Let's say it has been fluctuating between 4 and 10 ticks from the benchmark price over the last 5 min. Right now it's 6 ticksandashort is entered.
3. When the short is entered, Ninja Trader will consider the account size,the % risk and the distance the market is from the entry price to buy that specific number of contracts.

THEN

Is it possible to create a script that runs as a "pre-packaged" profit target that takes into account money management? For example:

1.Enter a short position with a stop in the market above current price.
2. The market moves down and reachesa first profit target.
3. Based on the closed profit on the trade in Step 2, move the initial stop down to only risk a specific % of remaining open profit.

Can NT do something like this, and if so, how could it be accomplished?

Thanks
Will

[NinjaTrader_Ray]

imported post

Hi,

I will answer your question in several parts.

1) We do not provide money management methods out of the box. This is on our list for the next major development cycle.

2) You could code all of this yourself. NinjaScript is just a library on top of the C# language.If you can code it, it will work. We do not have any sample code for this.

Ray