Replace fixed stop with trail

[kbnstp]

For a given strategy, I'd like to enter the trade with an initial fixed stop loss set. Then, if the price moves in my favor by a certain amount, I'd like cancel the existing fixed stop loss and activate a trailing stop in its place.

Is this possible with the Managed Order API via SetStopLoss() and SetTrailStop()?

I understand that I can approximate this effect by continuously updating the fixed stop set via SetStopLoss(), but I specifically want to know if that existing fixed stop can somehow be replaced altogether by a trail stop set using SetTrailStop() on an open position.

Thanks,

--
Kevin

[NinjaTrader_CalH]

Hi Kevin,

Thank you for posting.

You would need to use unique signal names to cancel the StopLoss order and then in your logic, submit the Trailing Stop and resubmit the Profit Target.

The reason for resubmitting the Profit Target is because when submitted together they are OCO tied. Since, the initial StopLoss was cancelled, NinjaScript cancelled the Profit Target as well.

[koganam]

For a given strategy, I'd like to enter the trade with an initial fixed stop loss set. Then, if the price moves in my favor by a certain amount, I'd like cancel the existing fixed stop loss and activate a trailing stop in its place.

Is this possible with the Managed Order API via SetStopLoss() and SetTrailStop()?

I understand that I can approximate this effect by continuously updating the fixed stop set via SetStopLoss(), but I specifically want to know if that existing fixed stop can somehow be replaced altogether by a trail stop set using SetTrailStop() on an open position.

Thanks,

--
Kevin

You cannot cancel an order submitted via SetStopLoss(), so that which you describe is not possible.