How to prevent resetting stop loss when unecessary

[coolmoss]

Hello,

I am trying to understand what's going on in the Output window on an Order Trace. I have a SetStopLoss located in the onBarUpdate. In the output window (see below) it appears that the stop loss is being reset each bar. Is that what's actually happening, or does Ninja "know" that the newly set stop loss price is the same as the last bar so it leaves the actual order alone. I imagine that constantly resubmitting the same order at the same price won't make a broker too happy.

Here is a chunk of the output window:

3/2/2012 8:18:05 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:28:57 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:35:07 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:39:32 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:42:13 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:46:49 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:50:36 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 8:54:31 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 9:02:34 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False
stop updated at first target fill
3/2/2012 9:08:32 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=1.33 Currency=0 Simulated=False

[NinjaTrader_RyanM1]

Hi coolmoss,

SetStopLoss commands don't actually submit the stop order. They determine how these stop loss orders should be submitted. Set statements are convenience methods that will trigger the stop loss automatically upon entry execution. They work a little bit differently than say ExitLongStop() and ExitShortStop(), which are order commands that will actually submit the order.

If you use SetStopLoss() to change the value of stop losses dynamically, the order price isn't changed unless the new value set is different than what the order price is working currently. The messages in the trace just tell you what value this set stop loss method is set to, not necessarily that an order is submitted/modified.

[coolmoss]

Music to my ears!

Thanks Ryan for this and all the other recent questions. I'm in big-time learning mode so using my unfair share of NT resources at this point. I promise to slow down soon