Stops in the Strategy Wizard

[rickf]

Hi, all -

I've been very impressed with NT and had some success developing some basic strategies. Good job to the NT team!

One general question: when you get to the Stops window in the wizard, can you implement multiple stops? For example, I am working on a basic strategy for the ES and ER2. It works quite well and is profitable, however I am unable to find a way in the Wizard to both establish a firm target for take profits AND a stop loss off the original position for those rare cases when the entry is flat-wrong.


So aside from setting firm take-profit points (which I can do just fine already) what's the secret to using the Stops window in the Wizard to also establish as part of the Stops strategy something that says "exit the position if it moves X ticks from the entry price"?

Thanks in advance.



ETA: I don't think we can do the auto-breakeven, auto-trail via the Strategy Wizard yet, right? And if not, is this something y'all might consider including as a very useful feature for us non-programmers? (Thx again.)

[NinjaTrader_JoshP]

You can try using a trail stop?

About the Auto-Breakeven stuff, correct it is not possible through the wizard, but you can definitely do it with NinjaScript coding.

[rickf]

You can try using a trail stop?

About the Auto-Breakeven stuff, correct it is not possible through the wizard, but you can definitely do it with NinjaScript coding.

Hi Josh --

Thx for the note. Unfortunately I've not gotten into scripting yet and frankly trying to avoid having to do so just on matter of keeping it simple if possible.

Yes, I can do a trailing stop in the wizard. And yes, I can do a hard stop-loss in the wizard. And yes, I can to a hard take-profit point as well.

What I can't figure out is how to use the Stop Page to say:

"If X moves Y points in my direction, exit for profit BUT if X moves Z points against me, exit for a loss."

....I can do both of these independently in the Stop Page in the wizard but can't do 'em together.

[NinjaTrader_Ray]

Sure you can do them together.

One is a SetProfitTarget the other is SetStopLoss. I have not read entire thread so maybe I am misunderstanding something.

[Fecdzo]

I cant get a trailing stop working in the strategy wizard. Is here someone who could tell me.
I would like to set a stop 10 ticks away from the entry and I want it to move up after every 5 ticks.

Please tell me how to do it. I dont understand the parameters in the wizard.I tried to modify each but did not have any result.

It would be very nice to have a video that shows how to set up stops in the wizard...

[NinjaTrader_Ray]

This style of trailing stop is not supported in the Strategy Wizard.

[Fecdzo]

Then what kind of trail stop is supported? I dont really understand it.
How does it work? For example if I use tick method. It means that the number for example 5 is going to be the stop?The stop always will be 5 ticks behind the current price?

If my stop is hit, but a certain condition is still trues how can I reenter a sell short or buy. For example if a line still above the other line go long or short?I would like to program it with the wizard. (Strategy)

[NinjaTrader_Ray]

It is a basic trail stop, X number of ticks behind the last new high price assuming you were long. Reverse for short.

If your stop is hit and you have a condition (set of rules) in the strategy wizard that evaluates to true, it would then submit another order assuming that is one of the actions set in the Condition Set.