Trailing Stoploss triggered by TP1

[Izybax]

Hello,

Hoping one of you can help me,

I've created a Strategy in Strategy Builder, but I'm trying to add in a trailing stop which is triggered by TP1.

Struggling to get anything working so far, so would really appreciate it if someone can guide me in the right direction

Cheers

IB

[NinjaTrader_Jesse]

Hello Izybax,

I wanted to clarify, are you saying that you have multiple stoploss and a profit target, you want the stoploss to start trailing once one of the profit targets is filled?

[Izybax]

Hi Jesse,

Yes so two contracts entry, with two take profits (TP1 & TP2) these entries have a fixed stoploss. What I'm hoping to achieve is the trailing stop to be activated once TP1 is hit; a trailing stop of 20 tick for the remaining contract.


Much appreciated

IB

[NinjaTrader_Jesse]

Hello Izybax,

Thank you for providing that detail.

To do that kind of action you would need to be able to monitor for order fills which is not possible in the builder, that is possible in manual coding. While using the builder you could use prices instead of order events to simulate that kind of condition. For example if you placed your first target at a specific price above the market you could have that price saved as a variable, that variable could later be used to control the other orders. To do that you would not use the stops and targets page of the builder but instead submit orders from the conditions and actions screen. We have a sample that shows how to control targets in the builder in the following link, it would be the same general concept for you what are doing. You can price the orders using variables and later use those variables in conditions to further change the prices of the orders.

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

[Izybax]

Thanks Jesse,

I'll try to incorporate this into my strategy