Strategy Builder Set Up for Profit Target

[Radano]

How to properly set up Strategy Builder with TP1 and TP2? The strategy includes the long position converting into the short position. In SET1 I have "Enter Long Position" in SET2 I have "Enter Short Position".

[NinjaTrader_Kate]

Hello Radano,

Thank you for your note.

You would need to create 2 entry orders and use signal names to link them to a specific profit target. I'm attaching a very simple strategy that enters two separate orders in a given direction and sets a different profit target for each, linking the entries and exits via signal names. You can import this from Tools > Import > NinjaScript Add-on. Once installed, you can look at the logic by opening a new Strategy Builder window and selecting "ExampleScaleOut" from the list, then advancing through the Builder screens.

Please let us know if we may be of further assistance to you.

[Radano]

I understood the logic, however how to teach the system to avoid overbuying positions. I get on times 4 positions vs 2.

[NinjaTrader_Kate]

Hello Radano,

Thank you for your reply.

Could you provide screenshots of your logic in your condition and action sets? It should be noted that calling an entry method (such as EnterLong() ) on the same bar on which an exit method is called will result in a larger position than you'd expect as Entry methods automatically submit an exit order for any position in the opposite direction and you can end up with 1 exit from the exit method, 1 exit automatically submitted from the entry method, and 1 order to put the strategy in the new position, which results in a 2 position in the direction opposite the one you started in.

Thanks in advance; I look forward to assisting you further.