SetStopLoss Method

[sherazwaqar]

If I want to place a stoploss at 2%, should I write
SetStopLoss(CalculationMode.Percent,0.02);
OR
SetStopLoss(CalculationMode.Percent,2);

Thanks

[NinjaTrader_Joydeep]

Hello sherazwaqar,
Thanks for writing in and I am happy to assist you.

To place a stop of 2% using the CalculationMode.Percent, please use the 0.02 as the value.

SetStopLoss(CalculationMode.Percent, .02);

The value the stop loss order is offset from the position entry price (exception is using .Price mode where 'value' will represent the actual price)

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?setstoploss.htm

Please let me know if I can assist you any further.

[coolmoss]

This may be a dumb question, but it's not clear to me how percent mode works. Can I use percent mode in Initialize()? If so, what price is the % being calculated on?

Thanks.

[NinjaTrader_Matthew]

Yes, you can use CalculationMode.Percent in Initialize.

The price of the stop order will be in terms of percent of the avg entry price.

[coolmoss]

Thanks much! That's what I thought but needed to verify for a client.