Breakeven Stop Loss Not Working

[rjm1903]

Hi,

I am trying to code a strategy that exits based on time since entry so there is no initial stop loss created when the entry takes place. However, I am now trying to test adding a breakeven stop loss once the trade gets to a certain number of points in profit. I am having an issue with my SetStopLoss for this breakeven SL on some trades because it causes for the trade to immediately exit after entry is taken. It seems that on some of the trades the SetStopLoss order is being placed immediately rather than waiting for the trade to hit a certain number of points in profit. I've tried adding conditions such as BarsSinceEntry to prevent this immediate SetStopLoss order but the if statement is completely ignored and the SetStopLoss order gets submitted anyways. Does anyone know what the issue is and how I can fix it?

Thank you!

[rjm1903]

Here is the code for what I'm describing

[hedgeplay]

Here is a quick soft answer because the support staff is off duty for the weekend.

I have never used "Set" methods but somehow would not have chosen that approach to achieve your goals.

Have a look at the other Managed Order Types. https://ninjatrader.com/support/help...ng_changes.htm

Like these ..

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?entershortstopmarket.htm

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?exitshortstoplimit.htm

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?enterlongstopmarket.htm

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?exitlongstoplimit.htm

You can submit these these any time you want once the orders are open.

Hedge

[rjm1903]

Yea I've thought about doing that but I really want to try to figure out why this issue is happening so I can prevent it in the future. Thank you for the information/links though!

[NinjaTrader_ChelseaB]

Hello rjm1903,

Set methods, like SetStopLoss(), are intended to be submitted immediately when the entry order fills and once set for a signal name cannot be unset.

Use Exit orders instead and submit these based on your criteria.

Below is a link to an example of a breakeven created with the Strategy Builder you may find helpful.

https://forum.ninjatrader.com/forum/suggestions-and-feedback/suggestions-and-feedback-aa/103992-request-breakeven-functions-in-strategy-builder#post806596

[rjm1903]

Thank you for the response! Why does it seem that the SetStopLoss works in some instances when it isn't immediately set at entry time? But then other times it causes this issue of immediately exiting the trade?

[NinjaTrader_ChelseaB]

Hello rjm1903,

After the set method is called it is set for any new orders. The first order may be before the set method has been set.

[rjm1903]

Yea but in my backtest the breakeven stop loss function using SetStopLoss works for several trades before it starts giving the issue of immediate exit after entry. So that's why I'm confused that it works properly sometimes but then it just randomly stops functioning as expected.

[NinjaTrader_ChelseaB]

Hello rjm1903,

Even in backtest Set methods cannot be unset and will continue to be set for new entries using the same signal name.

It may be the price of the stop was reached in the submission bar to fill.

That said, using Exit orders should resolve the behavior.

[rjm1903]

Ok thank you very much I will switch to Exit orders