Stop Strategy if weekly loss exceeds a certain level

[sburtt]

Hi NT Support,

is there a script i can add to my strategy to make sure it stops trading for the week if losses exceed a certain level (lets say 1000$)? Trading should resume on the following Monday.

Thanks, John

[NinjaTrader_JC]

Hello sburtt,

You may view the following reference sample that demonstrates how to use Trade Performance to help manage your strategy.

http://www.ninjatrader.com/support/forum/showthread.php?t=4084

If you would like to reset this every Monday then you may use the DateTime object to check for this. Here is a reference sample that goes over how the DateTime object that you may also view.

http://www.ninjatrader.com/support/forum/showthread.php?t=19292

[sburtt]

Hello sburtt,

You may view the following reference sample that demonstrates how to use Trade Performance to help manage your strategy.

http://www.ninjatrader.com/support/forum/showthread.php?t=4084

JC, thanks for your reply. I was looking at this SamplePnL and I have a few question.

1- Given I need this rule in place for real time trading, I would be using "RealtimeTrades", rather than "AllTrades", however how can could I then back test the strategy? would I need to keep "AllTrades" for backtesting purpose?

2- I notice this code is based on Bars.FirstBarOfSession, does this mean it resets every day, I run anintraday strategy on Forex using a SessionTemplate = Default 24/7, how could I adapt the code to make sure the PnL check is weekly rather than daily?

3 - Finally is this PnL count in $? what if I am using the strategy on USDJPY and my PnL is in JPY? would this adapt to USD or do I need to use a JPY value?

Thanks for your help

[NinjaTrader_PatrickH]

Hello sburtt,

Thank you for your response.

1- Given I need this rule in place for real time trading, I would be using "RealtimeTrades", rather than "AllTrades", however how can could I then back test the strategy? would I need to keep "AllTrades" for backtesting purpose?

To keep track of the previous trade you would need AllTrades, for the current position's PnL you would need to use GetProfitLoss(): http://www.ninjatrader.com/support/h...profitloss.htm

2- I notice this code is based on Bars.FirstBarOfSession, does this mean it resets every day, I run an intraday strategy on Forex using a SessionTemplate = Default 24/7, how could I adapt the code to make sure the PnL check is weekly rather than daily?

So you would only want the check done once a week rather than on each day? You can use the DateTime structure and create a condition to only check the PnL for AllTrades once a week (on your desired day of the week): http://www.ninjatrader.com/support/f...ad.php?t=19292

3 - Finally is this PnL count in $? what if I am using the strategy on USDJPY and my PnL is in JPY? would this adapt to USD or do I need to use a JPY value?

This would adapt to USD.

Please let me know if you have any questions.