Stop out to protect paper profit

[judysamnt7]

Hi ,
Assume that my current 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?

thanks a lot for your help!

[NinjaTrader_Gaby]

Hello judysamnt7,

Thank you for your post.

Can you clarify, are you trying to protect positions that you entered manually? Or were these positions generated by a strategy script?

[judysamnt7]

Gaby,
I want protect positions from both manual order and those generated from strategy

[NinjaTrader_Gaby]

Hello,

These would be two different approaches.

For automated orders generated by a strategy, you could use Set methods or Exit methods to protect the position.

https://ninjatrader.com/support/helpguides/nt8/modifying_the_price_of_stop_lo.htm

https://ninjatrader.com/support/helpguides/nt8/using_onorderupdate_and_onexec.htm

For manual orders, these would need to be monitored on the Account level.

Order object - https://ninjatrader.com/support/help...nt8/?order.htm

Account.Orders - https://ninjatrader.com/support/helpguides/nt8/orders_account.htm

Account.OrderUpdate - ninjatrader.com/support/helpGuides/nt8/orderupdate.htm


Or, you could use an ATM strategy via AtmStrategyMethods.

https://forum.ninjatrader.com/forum/ninjatrader-8/strategy-development/1184415-modify-stop-loss-by-strategy-after-manual-order?p=1184456#post1184456

[judysamnt7]

The links for manual order in your post are no longer there

[NinjaTrader_Gaby]

Apologies, I've fixed the links in the post.