SetStopLoss repeat processing

[alphatango]

The short question is: If I use "SetStopLoss("MyTradingAlgo",[...]" and have a condition that, when triggered, sends a new SetStopLoss with the same fromEntrySignal, does it cancel/move the prior entry signal, does it make 2 stop losses, or does it do nothing because a stop loss with that fromEntrySignal already exists?

Longer story:
I have my trading algorithm
If Logic = true
EnterTrade
SetAStopLoss
SetAProfitTarget


If PriceAction does Xyz
(essentially I want it to move the Stop Loss)

I would love to cancel the first stop loss that's at whatever my risk is for loss and move it to a position closer to my entry. Is that possible? Can I do that with simply declaring a new stop loss with the same fromEntrySignal?

Heck is there syntax to move an order to a new defined level?

Is there syntax to cancel a stop loss/profit target and set a new one within the same fromEntrySignal? I like the "fromEntrySignal" setup because it makes everything an OCO and I don't get zombie orders that make things go rogue.

[NinjaTrader_ChelseaB]

Hello alphatango,

Calling SetStopLoss() with the same fromEntrySignal will update the stop loss with the new parameters (and will not send an additional order).

See the ProfitChaseStopTrailSetMethodsExample here:

https://ninjatrader.com/support/forum/forum/ninjatrader-8/platform-technical-support-aa/97419-priceos-cs-expecting?p=802269#post802269

"I would love to cancel the first stop loss that's at whatever my risk is for loss and move it to a position closer to my entry."

Calling SetStopLoss() or an order method with the same signal name would change the orders price and would not cancel the order.

To cancel the order and place a new order, instead of updating the price of the existing order, you would need to use exit orders instead of set methods, assign the orders to variables in OnOrderUpdate(), and then use CancelOrder() and supply the variable.

https://ninjatrader.com/support/helpGuides/nt8/managed_cancelorder.htm