breakeven in strategy. can have profit target and stop loss

[SteveReiza]

i did the breakeven in my strategy from the example provided in this forum. i read that when you do the trailing stops you can't have profit target and stop loss. is this true with the breakeven?

[NinjaTrader_Jesse]

Hello SteveReiza,

The sample that you are referring to is simplified to not include a profit target, if you also wanted to have a profit target you would need to use similar logic to submit another order from the last set similar to how the stop is being submitted.

[SteveReiza]

thanks for the reply. is there an example of this you can provide?

[NinjaTrader_Jesse]

Hello SteveReiza,

I dont know of a specific example like that, the modification would not be difficult to do. You would just submit 1 additional order from the last set that is a limit order and set the price to a price that's above the market. The trail sample and breakeven sample are long only strategies so the offsets you would use for the target would need to be above market.

Keep in mind that while using the builder in this way the orders would not be tied by OCO so if you use a target price that is too close to the active market when the stop fills you run the risk of also filling the target. The same would happen if the target filled and then the price went down to the stop price before the order was expired.

[SteveReiza]

thanks for the reply. its a simple strategy. a break even. two entries, so two profit targets. and, i'd like to have a stop loss. is it the same thing. just add a limit order at that last set?

i used average price. that's correct, right?

or is it realized pnl?

[NinjaTrader_Jesse]

Hello SteveReiza,

Position average price would be the price which your entry fill created, that can be used as a starting price for an offset for targets.

The purpose of the last set in those samples is to keep the order alive until it fills, you need to keep calling the order method so it does not expire. Once the position is flat that will change the stop price variable to 0 so the final set stops being true, on the next bar update any active orders like targets would then be expired.

[SteveReiza]

thanks for the reply. it's a little over my head. i'll get an ecosystem developer to dial it in. unless, you can make a tutorial video