Trying to set a stop loss or Exit Long postion

[tchen7]

So im trying to set up stop loss/exit Long postion to make help make my backtesting a bit better.
My current situation is that
when a certain condition is true i enter either a long or a short by:

EnterLong(Convert.ToInt32(DefaultQuantity), "longEntry1");
EnterShort(Convert.ToInt32(DefaultQuantity), "shortEntry1");

Now I want to set a stop loss for this long right?
Im not sure if i should use SetStopLoss or ExitLongLimit
I have the following two options that I wrote that im not sure what is better , I tired using both but in the backtest, the stop losses don't execute:

SetStopLoss(CalculationMode.Currency, Swing.SwingLow[2]);
ExitLongLimit(Swing.SwingLow[2], "longEntry1");

Am i doing something wrong? Backtest seems not to work with the stop losses i have in place.

[NinjaTrader_ChrisL]

Hi tchen7, thanks for posting.

Sell Limit orders must go above the market price, so you would want to use a StopMarket/StopLimit order to act as a stop loss. You can also use SetStopLoss(CalcuationMode.Price, Swing.SwingLow[2]), make sure to call this line of code before calling the entry order method to arm the stop loss to trigger.

Kind regards,
-ChrisL

[tchen7]

A follow up question, does calling SetStopLoss later on override the previous stoploss?

[NinjaTrader_ChrisL]

Hi tchen7, yes it does. If you call SetStopLoss again with a different price will modify the originally placed stop loss.

Kind regards,
-ChrisL