Best practice stop loss

[yades]

Hi Support, I am planning in using the following script in OnBarUpdate() to manage my position (trailstop or exit at market). I would like to ask you:
1.if you recon the script is correctly coded or if the else statement highlighted in bold should be removed (and if yes, why exactly?);
2. any suggestion on how to improve my script is welcome

if(Position.MarketPosition == MarketPosition.Long && stopOrderLong != null)
{  
if(BarsSinceEntry() > exitPeriod && Position.GetProfitLoss(Close[0], PerformanceUnit.Points) < stopLoss) 
{
	x = Close[0];
}
	[B]else x = stopOrderLong.StopPrice - TickSize;[/B]

for(int i=1; i<10; i++)
{
	if(Close[0] > (Position.AvgPrice + i*stopLoss) && Close[0] < (Position.AvgPrice + (1+i)*stopLoss))
{
	y = Position.AvgPrice + i*stopLoss; 
}	
	[B]else y = stopOrderLong.StopPrice - TickSize;[/B]
}

double newStop = Math.Max(x,y); 	// calculate new stop loss
if(newStop > stopOrderLong.StopPrice)                       // check if new stop loss is higher than current stop loss
{
if(newStop < Close[0])
{
	stopOrderLong = ExitLongStop(1,true,stopOrderLong.Quantity, newStop,"Stop","Long");		
}
else if(newStop >= Close[0])
{
           ExitLong(1,stopOrderLong.Quantity,"Exit","Long");
}
}

[NinjaTrader_CalH]

Hi Yades,

Thank you for posting.

I don't see any immediate errors, however have you tested out this code to see if works they way you want it to?

What do you expect this strategy to do?

[yades]

Cal
once I am running a long position, what I expect this script to do is:
1. exit after a specific number of bars if my profit target is not met (this apparently is working fine)
2. trail my initial stop loss each time a bar close is above a multiple of my original stop loss;
When I run the script I suspect the trailing stop part is not working properly, but I am not sure what exactly is causing the issue

Hi Yades,

Thank you for posting.

I don't see any immediate errors, however have you tested out this code to see if works they way you want it to?

What do you expect this strategy to do?

[NinjaTrader_CalH]

Yades,

How are you setting the TrailStop and Profit targets in the code?

Can you share a sample of them?

[yades]

I don't set a target, i simply trail my stop as described and the initial stop is set onExecution with the same name and string as the one you see below:

stopOrderLong = ExitLongStop(1,true,1, stop,"Stop","Long");

Yades,

How are you setting the TrailStop and Profit targets in the code?

Can you share a sample of them?

[NinjaTrader_CalH]

Yades,

I would suggest trying to print out the values of your trailing stop that you have adjusting to make sure they are the values you want to take place.

These will print out to the output window which is accessible by Tools > Output Window..

Here is a link on the Print() function with NinjaTrader.
http://www.ninjatrader.com/support/h...html?print.htm