Resetting Stop Loss

[ATMtrader0001]

I am working on a Strategy that when the trade gets to a certain Profit target I was to reset my StopLoss to minimize the loss on the trade,
but even though I am calling the SetStopLoss with the parameters I used to set it initially the stop loss does not seem to reset.

Is there a specific way I should be calling SetStopLoss for this to work?
Is there code that will verify what the SetStopLoss is set to?

Thanks

[NinjaTrader_ChelseaB]

Hello ATMtrader0001,

A Set method cannot be unset. This means it is important to call the Set method with CalculationMode.Ticks to reset this before calling an entry method (not after).

Below is a link to an example named ProfitChaseStopTrailSetMethodsExample which demonstrates.

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

[ATMtrader0001]

Shame. This would be helpful to have. Feature Request?

[NinjaTrader_ChelseaB]

Hello ATMtrader0001,

The point of set methods, is to set these and then have them work for all future orders.. (set it and forget it kind of thing).

It seems what you are wanting to do is active management of the exit orders.

If you don't want to "set" these have them continue working for future entries, then don't use use Set methods. Use Exit order methods instead (such as ExitLongStopMarket()), which you can submit at a specific price from OnExecutionUpdate() when the entry order fills.

To confirm, you want to request that set methods automatically unset themselves?

[ATMtrader0001]

Yes, I supposed that is what I am saying. Maybe reset/adjust

I understand the set it and forget it, but if the trade is above a set profit level it would be good to be able to
reset the Stop Loss to a new level.

I am looking to code the Managed Order code.

[NinjaTrader_ChelseaB]

Hello ATMtrader0001,

You can always adjust a set method just by calling it again.

In Post # 2 I'm directing you to call the set method to reset it before calling a new entry, because it will be using it's values from the last entry which may be on the wrong side of the market, or not what was intended.

Because set methods cannot be unset we recommend resetting these before placing a new entry, by calling the set method one line above the entry and using CalculationMode.Ticks (or basically anything but .Price).

After the entry fills and the position changes and the orders are working, you can adjust them by calling the set method again using CalculationMode.Price.

Can I confirm, you read the code in the example I provided you that shows resetting the set method?

[ATMtrader0001]

OK, but if I am currently in an order I cannot reset it.

[NinjaTrader_ChelseaB]

Hello ATMtrader0001,

You are meaning while there is a working stop, you want to place a new entry to increase the existing position quantity and reset the stop before placing the order?

Use a different signalName for each order and use that entry signal name as the fromEntrySignal for the call to the Set method. This will associate the stop or target to that specific entry.

[ATMtrader0001]

Not what I meant. It's already been stated that once you set the Stop Loss you cannot change it for an order.

All I was saying that it would be Nice if while in an order you can adjust or reset the Stop Loss for that order.

[NinjaTrader_ChelseaB]

Hello ATMtrader0001,

"It's already been stated that once you set the Stop Loss you cannot change it for an order."

This is incorrect. A working stop loss can be adjusted. The set method cannot be unset for new orders. These are not the same thing. I've stated in post # 6 you can modify the stop price by calling the set method again with a new price.

"All I was saying that it would be Nice if while in an order you can adjust or reset the Stop Loss for that order."

You can. You just can't unset it.

[ATMtrader0001]

Thank you for the clarification. I will test this,