Daily total StopLoss

[Jym85]

How do you set up a strategy to close out once a "total allowable loss per day" level is reached?

I know how to set it up to close out a position when a stoploss is triggered but the way I have my system set up now I'll have 3 or 4 stoplosses back to back to back on a limited number of days when i back test so it'd be quite welcomed if i could limit the losses on those days.

Even with those days factored in, as far back as i can backtest on a demo, 2 months, it's actually showing up as being profitable overall. I'll take that for a 1st time strategy design attempt haha.

i'm designing it to trade futures mostly
the TF was....
+$10,000 on around 80 trades with 1 contract per trade from July 1st til today during regular trading hours.
Great in simulation but one of those $1,000+ down days would have really knocked my little account around

Thanks
and sorry for the long rambling part. I'm half asleep and delirious.

[NinjaTrader_JoshP]

Jym85,

Please see these reference samples: http://www.ninjatrader-support2.com/...ead.php?t=4084

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

[Jym85]

Thanks alot
That's exactly the info I was looking for.

[Jym85]

Ok nevermind about this last question
I figured it out haha

[Jym85]

ok one more question

How do I exit out of all my of my open positions at a specified time?

I have code in place and it works but it only prevents future trades from happening

if (ToTime(Time[0]) >= 74500 && ToTime(Time[0]) <= 134500)
{
code...
}

i also tried to add this but with no success...

private void StopStrategy()
{

CancelOrder(myEntryOrder);


if (ToTime(Time[0]) >= 134400)
ExitLong();
else if (ToTime(Time[0]) >= 134300)
ExitShort();
}

No errors showed up but the positions still stayed open until the session ended at midnight.

No big deal. I would be around if i actually ran it but I just wanted specific hours in place to backtest without the Bollinger bands being skewed

[NinjaTrader_Austin]

If you wanted to exit at say, 1:45P:

// this code would also need logic to reset exited to false when the day resets
if (ToTime(Time[0]) > 134500 && exited == false)
{
    exited = true;
    ExitLong();
    ExitShort();
}