StopLoss & Profit Target

[algospoke]

Normally I put SetProftTarget & SetStopLoss under State.Configure. However for the strategy I am working on it has multiple variations of profit targets and stop losses based on certain variables. Am I unable to use the SetProftTarget & SetStopLoss under the OnBarUpdate? I can't get it to work and I am not sure why.

if(Position.MarketPosition == MarketPosition.Long && Trigger122BullTargets == true)
            {
                SetProfitTarget(CalculationMode.Currency,Bull122TargetPrice);
                SetStopLoss(CalculationMode.Currency,BullStopPrice);
                return;
            }
            
            else if(Position.MarketPosition == MarketPosition.Long && Trigger122BullTargets == false)
            {
                SetProfitTarget(CalculationMode.Currency,BullTargetPrice);
                SetStopLoss(CalculationMode.Currency,BullStopPrice);
                return;
            }​

Instead the only way I can figure out a similar way of doing it by using the below code in OnBarUpdate. Just looking for clarification why the above code wouldn't work.

if(Position.MarketPosition == MarketPosition.Long && Trigger122BullTargets == true)
            {
                if(Close[0]>=Bull122TargetPrice)
                {
                    ExitLong();
                }
                else if(Close[0]<BullStopPrice)
                {
                    ExitLong();
                }
                return;
            }
            if(Position.MarketPosition == MarketPosition.Long && Trigger122BullTargets == false)
            {
                if(Close[0]>=BullTargetPrice)
                {
                    ExitLong();
                }
                else if(Close[0]<BullStopPrice)
                {
                    ExitLong();
                }
                return;​

Thanks

[NinjaTrader_ChelseaB]

Hello algospoke,

SetStopLoss() and SetProfitTarget() can be called within OnBarUpdate(). These need to be called before calling an entry order method.

Below is a link to the ProfitChaseStopTrailSetMethodsExample example which demonstrates.

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

Note, the CalculationMode.Currency means you are looking for an amount of loss or gain, not a specific price.