Resubmitting SetProfitTarget() on every bar close

[nrgful]

Hello,

I think the title of the topic is self-explanatory. Do I need to re-submit the SetProfitTarget() and SetStopLoss() on every bar close?

Because this is not described into the documentation

Best wishes

[NinjaTrader_Helom]

Hello nrgful,

Thanks for your message.



To clarify, are you using the Strategy builder to develop your strategy, or are you writing a script manually?


You do not need to re-submit SetProfitTarget() and SetStopLoss() on every bar close.

When you use SetProfitTarget() or SetStopLoss() in a NinjaTrader strategy, those settings persist until they are either modified or cancelled. You should only re-submit set methods if you want to change the values, such as price or calculation.


SetStopLoss()

SetProfitTarget()


I also recommend you check out the guide below, which explains how to avoid stop order rejections, such as SetStopLoss() or SetProfitTarget(), due to an invalid price.


NinjaScript Guide - Avoiding stop order rejections due to an invalid price


Feel free to reach out with any other questions or concerns.

[nrgful]

Thank you for your response.

I am writing my own script. I want to use SetStopLoss() and SetProfitTarget() methods to avoid other problematic circumstances. Could you provide me an example of how I can do that? Do I need to use the OnOrderUpdate() if using SetStopLoss() and SetProfitTarget() to handle with the order exceptions when volatility is increased?

[NinjaTrader_Helom]

Hello nrgful,

Thanks for your reply.



The Developer Guide below contains a sample code that demonstrates the use of SetStopLoss() and SetProfitTarget().


https://support.ninjatrader.com/s/article/Profit-Chase-Stop-Trail?language=en_US


To answer the second half of your question, only your needs will determine if you need to use OnOrderUpdate() with RealtimeErrorHandling to protect your position.

Below you will find a sample code demonstrating the use of OnOrderUpdate().


Using OnOrderUpdate() and OnExecution() methods to submit protective orders

RealtimeErrorHandling


Feel free to reach out with any other questions or concerns.