OnAccountItemUpdate

[judysamnt7]

Hi ,
Assume that my manually entered existing positions already had a paper profit of $1000. How do I set a stop order to protect these $500 of profit while let them run further?
I think such stop order needs to be on account level, right? If yes, what method should I use for indicator development?

Do I need call OnAccountItemUpdate to check AccountItem.UnrealizedProfitLoss before placing stop order?

thanks a lot for your help!

[judysamnt7]

Hi ,
Assume that my manually entered existing positions already had a paper profit of $1000. How do I set a stop order to protect these $500 of profit while let them run further?
I think such stop order needs to be on account level, right? If yes, what method should I use for indicator development?

Do I need call OnAccountItemUpdate to check AccountItem.UnrealizedProfitLoss before placing stop order?

thanks a lot for your help!

[NinjaTrader_ChelseaB]

Hello judysamnt7,

Yes, if you wanted to check the entire account unrealized profit and loss for all positions to be equal to or greater than 1000 you can add an event handler to the Account.AccountItemUpdate event.

https://developer.ninjatrader.com/docs/desktop/accountitemupdate

If you want to check the unrealized on a specific instrument you can add an event handler to the Account.PositionUpdate event and use e.Position.GetUnrealizedProfitLoss() to get the unrealized pnl for the position.

https://developer.ninjatrader.com/docs/desktop/positionupdate

To submit a stop order through the account use Account.CreateOrder() and Account.Submit().

https://developer.ninjatrader.com/docs/desktop/createorder

https://developer.ninjatrader.com/docs/desktop/submit

The ProfitChaseStopTrailAddonExample found with the link below has some sample code of adding event handler methods and submitting orders through an account.

https://support.ninjatrader.com/s/article/Profit-Chase-Stop-Trail

[judysamnt7]

okay thanks

[judysamnt7]

Hi Chelsea,
do you have a sample code that calculate the DrawDown value and once reached it will flatten the positions? Similar to Trailing Max DrawDown in Auto-Liquidation setting.

[NinjaTrader_ChelseaB]

Hello judysamnt7,

I don't have a sample of calculating the DrawDown.

You can get the DrawDown for closed trades from the SystemPerformance.

https://developer.ninjatrader.com/docs/desktop/systemperformance

https://developer.ninjatrader.com/docs/desktop/drawdown

Below is a link to a google search with topics where this has been discussed.

https://www.google.com/search?q=site%3Aninjatrader.com+calculate+drawdown

[judysamnt7]

thanks Chelsea. But for my sake of tracking real time drawdown and use that as trigger to flatten account , the SystemPerformance for closed trades is not going to help here.

[NinjaTrader_ChelseaB]

Hello judysamnt7,

Unfortunately, this value is not available for open positions.

This may be something you can calculate.

Below is a link to a forum post with a suggestion.

https://forum.ninjatrader.com/forum/ninjatrader-8/strategy-development/1181854-max-drawdowns?p=1181876#post1181876

Below are forum threads where this is discussed.

https://forum.ninjatrader.com/forum/suggestions-and-feedback/suggestions-and-feedback-aa/104657-metric-needed-intraday-real-time-unrealized-maximum-drawdown

https://forum.ninjatrader.com/forum/ninjatrader-8/platform-technical-support-aa/1284328-does-simulation-or-playback-account-support-realtime-drawdown-in-performance