stop strategy from entering NEW positions after Stop hit

[YD777]

If I hit a stop loss anytime during the day, I not only want to close the position but ALSO disable my strategy from entering any NEW positions. It still needs to manage the remaining open position(s) that weren't tied to the stop loss already hit.

Could this be accomplished by changing EntriesPerDirection dynamically? Or is there a better way?

[NinjaTrader_ChelseaB]

Hello YD777,

I have a few examples of a daily loss limit.

http://ninjatrader.com/support/forum/showthread.php?p=490325#post490325

Instead of stopping new entries after the loss limit is hit, set a variable that is changed when a stop loss or exit order fills.

[YD777]

Thanks, I learned a lot from the examples.

Can you tell how my script would know if a stop was hit for any of my orders?

[NinjaTrader_ChelseaB]

Hello YD777,

Yes, this is possible by detecting the signal name of the order in OnExecution() or OnOrderUpdate().

protected override void OnExecutionUpdate(Execution execution, string executionId, double price, int quantity, MarketPosition marketPosition, string orderId, DateTime time)
{
	if (execution.Order.Name == "Profit target")
	{
		// the profit target has had a fill or part fill
	}

	if (execution.Order.Name == "Stop loss")
	{
		// the stop loss has had a fill or part fill
	}

	if (execution.Order.Name == "Trail stop")
	{
		// the trailing stop loss has had a fill or part fill
	}
}

protected override void OnOrderUpdate(Order order, double limitPrice, double stopPrice, int quantity, int filled, double averageFillPrice, OrderState orderState, DateTime time, ErrorCode error, string comment)
{
	// if the order is filled or part filled
	if (order.OrderState == OrderState.Filled || order.OrderState == OrderState.PartFilled)
	{
		if (order.Name == "Profit target")
		{
			// the profit target has had a fill or part fill
		}

		if (order.Name == "Stop loss")
		{
			// the stop loss has had a fill or part fill
		}

		if (order.Name == "Trail stop")
		{
			// the trailing stop loss has had a fill or part fill
		}
	}
}