Hello all,
New to NinjaTrader here so please excuse my ignorance, and I also apologies if this is in the wrong forum, but it seemed the most relevant.
I am requesting guidance with placing a trailing stop, which I also do not have much experience with in general. I usually just place trades with a 1:3 RR, however I am trading with a prop firm that has a trailing threshold failure level. So I can be +1% in profit, but if the trade reverses, I will be at -2% if my original SL is hit, leaving me with only -1% of the account left before I fail. So, even if my next trade goes into 1% profit and quickly returns to my entry, this will also be a failure. In summary, the account trails -3% at the highest point of profit.
With that being said, I am trying use a strategy that will immediately trail my entry at -1%, until it hits +3%. Essentially what this will do, is it will use my original placement of a 1% "hard" SL, and will also protect me from sudden reversals as I approach the profit target. I should also note that my strategy is swing and may last several days, which is why it is vital that I have a trailing stop.
For example, I was recently up ~$5k on a $100k account (I doubled my R:R). I wound up manually closing the trade at $102,500, leaving me now with only -$500 wiggle room. If the trailing stop I am describing exists, I would have $2k in wiggle room. Kind of sucks, really. However, if I can pass the evaluation and get about 7% into profit with the "live" account, the trailing threshold rule will be gone.
Can someone please point me into the direction of a video if this has been discussed or provide a specific way to input this into a trailing stop ATM. Again, I am not familiar with placing trailing stops.
Thank you so much I appreciate your time and help
New to NinjaTrader here so please excuse my ignorance, and I also apologies if this is in the wrong forum, but it seemed the most relevant.
I am requesting guidance with placing a trailing stop, which I also do not have much experience with in general. I usually just place trades with a 1:3 RR, however I am trading with a prop firm that has a trailing threshold failure level. So I can be +1% in profit, but if the trade reverses, I will be at -2% if my original SL is hit, leaving me with only -1% of the account left before I fail. So, even if my next trade goes into 1% profit and quickly returns to my entry, this will also be a failure. In summary, the account trails -3% at the highest point of profit.
With that being said, I am trying use a strategy that will immediately trail my entry at -1%, until it hits +3%. Essentially what this will do, is it will use my original placement of a 1% "hard" SL, and will also protect me from sudden reversals as I approach the profit target. I should also note that my strategy is swing and may last several days, which is why it is vital that I have a trailing stop.
For example, I was recently up ~$5k on a $100k account (I doubled my R:R). I wound up manually closing the trade at $102,500, leaving me now with only -$500 wiggle room. If the trailing stop I am describing exists, I would have $2k in wiggle room. Kind of sucks, really. However, if I can pass the evaluation and get about 7% into profit with the "live" account, the trailing threshold rule will be gone.
Can someone please point me into the direction of a video if this has been discussed or provide a specific way to input this into a trailing stop ATM. Again, I am not familiar with placing trailing stops.
Thank you so much I appreciate your time and help
Comment