Hi Everyone, I hope you're well
I want to create a strategy, but I don’t know how to use the strategy builder, I’m sorry I’m still new to NinjaTrader.
I’m a trader who doesn’t know how long the price will keep moving towards the favored direction after it hits the profit target.
So, I want the strategy to:
Instead of closing the trade once the initial target is met, it should wait and create a new stop loss or let’s call it at this instance a stop “profit” loss. For example, it will create the Stop Profit Loss at 5 pips behind the first target. -The trader wants to be able and easily adjust on that 5 pips “stop profit loss” within the same single strategy, like one time its 3 pips and sometimes its 10 or anything, depending on the trade setup.
Secondly, the trade is only closed by the Stop Profit Loss trigger, which is after losing 5 pips from my initial target. However, and most importantly. If the price is indeed keeping on moving towards my favored direction and gaining more pips: -The Stop Profit Loss must also keep following the new price. For example, *Now the first target profit has been met, then the Stop Profit Loss was automatically created at 5 pips, then the price progressed 6 more pips to my favor, the Stop Profit Loss will also automatically follow by 6 pips, which means, that the Stop Profit Loss Is sitting at 1 pip ahead of the initial target.*
Finally, the mostly most important! ^In that same example above^ *The price gains 3 more pips, now the Stop Profit Loss automatically is sitting 4 pips ahead of my initial target ---I hope we’re still clear--- Then, however, the price starts setting back here and there and loses 3 pips…*
Now what is required from the Stop Profit Loss is to STAY STILL, KEEP ITS POSITION AT 4 PIPS AHEAD OF THE INITIAL TARGET. Even if the price *gains 1 pip back, SPL STAY! the price gains the second, SPL STAY! price gains back the 3rd pip, STAY! Now the SPL could start to follow the newly gained pips because the price has stretched back the total 5pips.
Think of it as a leash that is 5pips tall. Meaning the holder/SPL shouldn’t move if the dog/price is just playing back within that range of 5pips.
Then again, the trade will only be closed after losing 5pips from the newest price gained in this one.
Lol, I hope I was explaining clearly
Best regards,
I appreciate all your efforts and time!
I want to create a strategy, but I don’t know how to use the strategy builder, I’m sorry I’m still new to NinjaTrader.
I’m a trader who doesn’t know how long the price will keep moving towards the favored direction after it hits the profit target.
So, I want the strategy to:
Instead of closing the trade once the initial target is met, it should wait and create a new stop loss or let’s call it at this instance a stop “profit” loss. For example, it will create the Stop Profit Loss at 5 pips behind the first target. -The trader wants to be able and easily adjust on that 5 pips “stop profit loss” within the same single strategy, like one time its 3 pips and sometimes its 10 or anything, depending on the trade setup.
Secondly, the trade is only closed by the Stop Profit Loss trigger, which is after losing 5 pips from my initial target. However, and most importantly. If the price is indeed keeping on moving towards my favored direction and gaining more pips: -The Stop Profit Loss must also keep following the new price. For example, *Now the first target profit has been met, then the Stop Profit Loss was automatically created at 5 pips, then the price progressed 6 more pips to my favor, the Stop Profit Loss will also automatically follow by 6 pips, which means, that the Stop Profit Loss Is sitting at 1 pip ahead of the initial target.*
Finally, the mostly most important! ^In that same example above^ *The price gains 3 more pips, now the Stop Profit Loss automatically is sitting 4 pips ahead of my initial target ---I hope we’re still clear--- Then, however, the price starts setting back here and there and loses 3 pips…*
Now what is required from the Stop Profit Loss is to STAY STILL, KEEP ITS POSITION AT 4 PIPS AHEAD OF THE INITIAL TARGET. Even if the price *gains 1 pip back, SPL STAY! the price gains the second, SPL STAY! price gains back the 3rd pip, STAY! Now the SPL could start to follow the newly gained pips because the price has stretched back the total 5pips.
Think of it as a leash that is 5pips tall. Meaning the holder/SPL shouldn’t move if the dog/price is just playing back within that range of 5pips.
Then again, the trade will only be closed after losing 5pips from the newest price gained in this one.
Lol, I hope I was explaining clearly
Best regards,
I appreciate all your efforts and time!
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