understanding how to implement trailing and parabolic stops into my strategy

[trdninstyle]

If TrailStopDistance is set at -40 does that mean it will place my initial stop -40ticks below entry?

[NinjaTrader_Jesse]

Hello trdninstyle,

Yes that would subtract 40 ticks from the price you are calculating.

[trdninstyle]

Is it just possible to have a set target in place and a stop that starts out -40 ticks which moves up to breakeven +1 after price goes 10 ticks?

And thats it!

Forget about trailing it behind price as market goes further. Thats too complicated.



I tried this but it throws off my targets. I can adjust some of that language to see what can happen.

if (Position.MarketPosition == MarketPosition.Long && Close[0] >= Position.AveragePrice + (7 * (TickSize / 2)))

1st pic is what I have with hard stops & targets, 2nd pic is where it gets messed up with me trying to apply that script above.

[NinjaTrader_Jesse]

Hello trdninstyle,

To do a breakeven you can see the breakeven sample in the following post: https://ninjatrader.com/support/foru...der#post806596

You would have to edit the existing inputs to match what you wanted to do. That script has default values for InitialStopDistance of -10 which you could set to whatever offset you wanted for the stop placement. You would also change the BreakEvenTrigger to match the amount of profit you wanted before breaking even.

If you wanted to do a +1 on the stops price after a break even you would have to edit set 4 to make the StopPrice the value that you wanted as the breakeven price. It uses the averageprice for the break even by default.

[trdninstyle]

The BreakEvenTrigger example right now is set at 5, which is $500 ES, 10 points. That 5 isn't really 5 ticks, am I correct? Or is that saying 5 ticks? I would have to have a point in front of the number, like .1 or something.

[NinjaTrader_Jesse]

Hello trdninstyle,

The sample uses Ticks for the offsets, you can view that by opening the script in the strategy builder and then looking at the offset that is used. You can also see that in the code, that is the BreakEvenTrigger * TickSize.

[trdninstyle]

In the script it looks like its under set 3 then I go to set 3 and break down each part. This part so far, I have it right?

The reason I thought the 5 was for more is because on my chart it doesn't look like it breaks even at 5 ticks, more like some crazy amount. On the chart itself.

(I'm just doing each step at a time. I'll get to doing a +1 by editing set 4 to make the StopPrice the value that I want.)

[NinjaTrader_Jesse]

Hello trdninstyle,

Set 3 is used to set an initial stop price. Set 4 is to set the breakeven price when the break even should happen.

[trdninstyle]

So set 3 is for initial stop, modify that. And set 4 is for breakeven after price moves in my favor by said amount, modify that.

So, I do not need those other sets? And I can still have a hard target in place.? In the Stops & Targets section.

[NinjaTrader_Jesse]

Hello trdninstyle,

All 5 sets are required in that sample for it to work to do a breakeven. The stops and targets page cant be used for a break even.

[trdninstyle]

Hold on. I'm not intending to use it for breakeven only the TARGET. The breakeven is in set 4 so yes, I don't use the Stop in 'Stops and targets'. Only for my Target of 30 ticks.

Can I still use Target in Stop & Targets section? For Target Not Stop.

[NinjaTrader_Jesse]

Hello trdninstyle,

You can use the stops and targets page for a basic target, you can't for a breakeven stop.

[trdninstyle]

Okay so I can. I'll go ahead and use a basic target and a breakeven stop. On sets 1,2 and 5, I copy them the way they are? and change 3 & 4 to fit my strategy. Is my understanding right then?

[trdninstyle]

In Set 2 in the 'Do the following' section, it's entering Long. Don't I need to remove that?

My strategy already has me entering long.

[NinjaTrader_Jesse]

Hello trdninstyle,

For the break even to work you need to keep 100% of the logic in that sample. Your entry condition would be in set 2. Set 1 is needed to reset the variables.