StopLoss Value

[VikingHead]

I am new to NinjaScript and trying to create a simple StopLoss in a stategy. I want the stop order to submit when the price drops 0,50 (50 cents).
To get it to work I have to use a Value of 5. Code is SetStopLoss("", CalculationMode.Currency, 5, false);
Is this intended functionality?

[NinjaTrader_ChrisL]

Hi VikingHead, thanks for your post and welcome to the forum.

To submit the protective stop order at a later time, you would have to check for if(Position.MarketPosition == MarketPosition.Long) and also check if the current price <= Average Entry Price - .50 e.g. if(Close[0] <= Position.AveragePrice-0.50) then submit the order with the EnterLongLimit method.

If you use SetStopLoss, this method must be called before the entry order is made, so there will be no waiting for the stop to be submitted. The Currency parameter type with a value of 5 will set the stop loss such that if the stop is touched, the account would have lost 5$. If you want to use a specific price use the Price parameter type.

Please let me know if I can assist any further.

[VikingHead]

Thanks for the explanation.
one more question - using the SetStopLoss method with a percent value, would the calculation be based on the total account? if the stop was set to 2% and the account value was $10,000 then the stop would be triggered when the account lost $200 ?

[NinjaTrader_ChrisL]

Hi VikingHead, thanks for your reply.

All calculation types are relative to the Average Entry price, not the account cash value. One would need to calculate this manually using the strategies Account class.

E.g. var x = myAccount.Get(AccountItem.CashValue, Currency.UsDollar);
var numberOfContracts = x/pricePerShare;

Please let me know if I can assist any further.