Going from a Stop Loss to a Trailing Stop within a strategy

[NinjaTrader_Ray]

Yes, every change in level 1 market data.

[NinjaTrader_Ray]

Forgot...this method is NOT called in a backtest, only real-time.

[mrlogik]

Yes sir.

Last question for the night.

If I want to set a 10 pip stop ...

SetStopLoss(CalculationMode.Ticks, 100);

Correct?

[NinjaTrader_JoshP]

Do 10 instead of 100. In your Instrument Manager your instruments should have a place for TickSize. They are generally set to 1pip so you would want 10 ticks for 10 pips. Double check your Instrument Manager beforehand to ensure you are on the right value though.

[mrlogik]

Hey Josh,

I have my TickSize set to .00001 (fractional pip) for EURUSD, so I think I need to do 100. I guess I could change that to .0001 and do 10 as well.

Question. When placing my SetStopLoss(), I read you should reset it when you're flat. Can I reset it back to my origional setting right before I place a new entry order, or does this need to be done after my entry order is filled?

Thanks

[NinjaTrader_JoshP]

You can do it right before.

You may also want to just try your SetStopLoss() out in the Strategy Analyzer to see if it is submitting orders that you find suitable if you decide to play with the TickSize.

[mrlogik]

I agree, thats a good idea.

Thanks for your help Josh.

Anthony

[NinjaTrader_Ray]

DO NOT change tick size in the Instrument Manager. Depending on your provider, 10 may be 10 or may be 100 or may even be 50. Please check the Connection Guide on our website for your provider to determine if Tools > Options > Misc, FX Quote property should be set to Pip, 1/2 pip or tenth pip.

[mrlogik]

Hey Ray.

I have decided to leave everything alone as I want TickSize (with MBTrading) to be a fracion of a pip (the smallest possible change in value).

Thank you for your direction.

Anthony

[NinjaTrader_Ray]

Then it should be set to 1/10 pip and send in 100 for a 10 pip stop loss etc...

[deralex]

Hi Josh,

i can't open the link with the IOorder sample, can you post it once more, always tells me this "No Thread specified. If you followed a valid link, please notify the administrator" thx

[NinjaTrader_JoshP]

This one? http://www.ninjatrader-support2.com/...ead.php?t=7499

[deralex]

thx for the fast reply. i think it is the wrong one, i was a bit unprecise, the old link goes like thishttp://www.ninjatrader-support.com/v...ead.php?t=3917
my problem is actually the same sidharta described concerning trailingstopps and stopp loss.

[NinjaTrader_JoshP]

That link is the same as the one I posted in my previous post. You need to modify your stops manually to mimic the trailing stop behavior you want. For an idea of how to calculate your own trailing stop prices please see post 9 and 11 on this thread: http://www.ninjatrader-support2.com/...ad.php?t=10344