Risk for day realization

[Aporshnev]

How to realize a risk-for-day(max drawdown risk) to a strategy?
My logic is "If unrealized P&L is graterEqual (UserInput) -> cancelOrders/closePosition/disable strategy"
But I do not see such functions in the set options.

Any other ways to do this?

[NinjaTrader_ChrisL]

Hi Aporshnev, thanks for your note.

In the strategy builder this condition would look something like this where IN is a user input variable:

https://clauber.tinytake.com/tt/NDAxNjcxMV8xMjM1MzY0Ng

Please let me know if I can assist further.

[Aporshnev]

Please advise what actions need to be set in case this condition happens? I.e. how to stop the strategy and close the positions?

[NinjaTrader_ChrisL]

Hi Aporshnev, thanks for your reply.

To call CloseStrategy the script needs to be unlocked and coded in the NinjaScript editor:

https://ninjatrader.com/support/helpGuides/nt8/?closestrategy.htm

In the builder, one would need to close out of any open positions using the ExitLong/Short methods and set a bool variable flag to prevent the strategy from trading anymore after that.
roughly:
bool tradeflag = true;

if(Entry Condition && tradeflag)
{
//enter market
}

if(Exit Condition)
{
//Close positions
tradeflag = false;
}

Please let me know if I can assist any further.