Stops and Profit Targets ( Money Management )

[kzulu]

I'm new to NinjaTrader and using the strategy wizard ive managed to create the basic rules of the strategy that i want to test, however i dont really have much of a clue as how to set up my stop loss and profit targets.

This is what i want to do;

Stop loss above/below the high/low of the bar just before entry ( i enter on close of bar).

Have a user defined variable(say X) that says if the Difference between the entry price and the stop price(say R) is greater than 15 ticks for example, then no trade.

Profit targets that relate to R rather than fixed number of ticks. eg. 1R, 2R, 3R

Scale out of positions at Profit targets.

My programming knowledge is limited but any help i can get would be highly appreciated.

[NinjaTrader_Joydeep]

Hello kzulu,
Welcome to the forum and I am happy to assist you.

Unfortunately you cannot do it using the wizard. You have to unlock the strategy and further custom code it using the NinjaScript Editor.

If you are new to NinjaTrader and NinjaScript coding then I would suggest looking into the below tutorials first:

To learn NinjaScript please go through these help guide references first to get some basic knowledge.

• http://www.ninjatrader.com/support/h...g_concepts.htm
• http://www.ninjatrader.com/support/h...indicators.htm
• http://www.ninjatrader.com/support/h...strategies.htm

Please go through this YouTube video which demonstrates how to develop a strategy using the Strategy Wizard

• Automated Strategy Development Level 1 – Ryan Millard
• NinjaTrader New Programmers Strategy Development
• NinjaTrader Tips – Learn NinjaScript – Adam Profitt
• NinjaTrader Strategy Order Management
• NinjaTrader Strategy Development Risk Management

Lastly, view the inbuilt indicator and strategies that comes preloaded with NinjaTrader.

• In Control Center menu bar, goto Tools>Edit NinjaScript…>Indicator/Strategy
• In the Indicator/Strategy dialog double click on any indicator/strategy to open the same in the NinjaScript editor and see how the same is coded.

We have just launched our YouTube channel and are working to expand the base, which will also include tutorials on NinjaScript development.