Problem with short stops

[dbazos]

I'm trying to set a stop for a short position using the strategy wizard. When I set a stop it seems to only work as if it was a long position (stop activated when price falls.) But, I need it to work the opposite with a short trade. I want it to stop if the short trade starts going up and losing me money. I tried using a negative short value but that did not seem to work either.

I believe this is normally called a buy stop order? Would this have to be manually coded in?

Any suggestions?

[NinjaTrader_PatrickH]

Hello dbazos,

Thank you for your post.

There would be no need to manually code the stop. Are you using a Stop Loss or an Exit Stop order on the Conditions and Actions tab?

The Stop and Targets tab will allow you to set stop losses for either Long or Short. Or you could use an ExitShortStop() under the Conditions and Actions tab.

[dbazos]

Thank you for the reply,

Ok, I found the Exitshortstop that you referred to. What would you recommend as a condition to trigger the short stop as the short position price starts to go up.

Unfortunately I'm rather new at the strategy wizard, so any help would be appreciated.

[NinjaTrader_PatrickH]

Hello dbazos,

Thank you for your response.

Check that the MarketPosition is Long then set the ExitLongStop and check that the MarketPosition is Short before setting the ExitShortStop.