Extra protection

[afisher1965]

Hi, I noticed that in the past people asked for the code that would Close All positions when UnrealizedPNL reached a certain value. Do you know if anyone wrote that code? I looked around and couldn't find anything I also emailed to NinjaTrader Platform Customer Service on Friday, Aug 5. Still no answer I have a feeling they would tell me that Ninja Trader doesn't have this feature and I need to code it myself. This is such a useful tool, I can't believe that nobody has it. On top of everything it should be very easy to implement, since Ninja Trader is already doing something VERY similar. If user exceeds their daily limit NT closes all positions. This feature would be such a huge gift to all NT traders!

[NinjaTrader_BrandonH]

Hello afisher1965,

Thanks for your post.

This is something that would require developing a custom NinjaScript strategy.

Please see the example scripts in the forum post linked below for how this would be accomplished.
https://ninjatrader.com/support/foru...limit-examples

Let us know if we may assist further.

[afisher1965]

Thank You NinjaTrader_BrandonH, will study the examples you referred to. Cheers

[afisher1965]

Hi NinjaTrader_BrandonH. I Imported and applied DailyLossLimitExample_NT8 strategy, but it didn't work. I tried it both in simulated Data Feed and Sim account. Any suggestions?
Also, here is correspondence between NinjaTrader Customer Support (NinjaTrader_ChelseaB) and user (Trade17) from February, 2019 (Also I noticed that people were asking for this since 2017)
02-11-2019, 06:46 PM
Hello Trader17,

I have submitted your request for the NinjaTrader Development to consider creating a loss limit tool for NinjaScript Strategies.

Once I have a tracking ID for this request I will post in this thread for future reference.
-----------------------
02-18-2019, 12:02 PM
Hello Trader17,

I have received tracking ID# SFT-2936 for this request for a daily loss limit built into NinjaScript Strategies.

Please note it is up to the NinjaTrader Development to decide if or when any request will be implemented.

We appreciate your feedback on this.
---------------------------------------------------------------------------------------------------------------
Why is Ninja Trader refuses to created this amazing tool as part of a platform????
I know that NinjaTrader will be able to attract more users by putting this "Safety Net". SO WHY NOT?????

[NinjaTrader_BrandonH]

Hello afisher1965,

Thanks for your note.

The DailyLossLimitExample_NT8 strategy does work properly when I test it on my end. If you enable the DailyLossLimitExample_NT8 strategy on a chart window, you could open a New > NinjaScript Output window and note the print that occurs when the daily loss limit is hit. The Output window will read something like this:

"daily limit hit, no new orders 8/7/2022 4:02:00 PM"
"daily limit hit, no new orders 8/8/2022 5:01:45 PM"

When you say the strategy does not work, what exactly is not working when you enable the strategy on your end?

Note that this is meant to be a reference sample that shows how you could program this into your own strategy. This reference sample is not meant to be a fully working out-of-the-box strategy.

"Why is Ninja Trader refuses to created this amazing tool as part of a platform????"

Deciding on features for future releases is not a simple black-and-white decision. There are many factors involved including but not limited to:

• Demand which is measured by objective user requests and subjective discretion on the part of our Product Management team.
• Feasibility
• Developer bandwidth
• Current projects in the queue
• Economics

You'll find a note regarding your feature request in the release notes when a feature is implemented.

Let me know if I may assist further.

[afisher1965]

Hello NinjaTrader_BrandonH.
Thank You for your reply.

First of all I didn't realize that the Daily Loss strategy is just a small sample, I thought it would actually close all the trades after daily limit is reached. I bet many people trading on Ninja Trader 8 platform are not programmers and they would want Technical Support to provide working samples of strategies instead of snippets of the code that need to be implemented in another strategy.
I completely understand all the reasons for new tools that are being taken into consideration when new release is coming out. My response to some of the factors that you listed:

- Demand - It seems that there actually IS a high demand for this Max Daily Loss tool, and people were asking for it for a very long time, your tech support actually had a request submitted on 02-18-2019 (3 years ago).

- Feasibility - I am not sure why you included Feasibility as one of the factors. Ninja Trader already coded logic necessary for Max Daily Loss. Try to go short with several NQ contracts in a bullish market having a small account, at some point NT8 will close all your positions with a message that you exceeded your daily limits.

- Developer bandwidth - not sure what you mean by this, I assume the time constraints that NT developers have to work on another project. Max Daily Loss is not a kind of project that takes a long time and a lot of man power. I bet a decent NT programmer can code, test and release this tool in a few days.

- Current projects in the queue - This is a valid point, I have no knowledge what NT8 has lined up and what people are working on. Was just thinking that in 3 years, since first request was submitted, NT's IT dept would find some time do finish this. There are tons of trading indicators, and it's all good BUT there is no holly grail. Having a safety net is MUCH more important for traders than another indicator (I bet most people will agree with me on that one).

- Economics - This one I am completely in the dark, do you mean that having Max Daily Loss somehow will adversely effect NT's business?

I understand that this thread will not produce any results, for some reason NT doesn't want to implement this tool. Plain and simple. Just wanted to voice my opinion.

Best Regards
Alex

[NinjaTrader_BrandonH]

Hello afisher1965,

Thanks for your note.

Fully working NinjaScript strategies would need to be programmed by you or by a third-party programmer to function specifically how you would like. In the Support department, we do not program fully working NinjaScript strategies as we are a small team and these take time and resources to create and debug.

We are able to provide example code snippets, attach example scripts, link to reference samples on the forum, and provide educational resources such as videos and links in our help guide to assist with any NinjaScript programming questions you may have. Note that we cannot debug or modify a script on your behalf. It would be up to you to debug the script and ensure it is working as you expect.

Let me know if I may assist further.