Strategy: Scaling out of a position

[NinjaTrader_JoshP]

A common technique used by discretionary traders is scaling in and scaling out of a position. To scale out of a position refers to closing a portion of your position when you hit a profit target and then raising your stop to close your remaining portion later.

Key concepts in this example:

• Submitting Profit Target orders
• Submitting Trailing Stop orders
• Closing half of your position at a time

Important related documentation:

NinjaTrader 8

• MarketPosition
• SetProfitTarget()
• SetTrailStop()
• EntriesPerDirection*
• EntryHandling*
• SetStopLoss()

NinjaTrader 7

• MarketPosition
• SetProfitTarget()
• SetTrailStop()
• EntriesPerDirection*
• EntryHandling*
• SetStopLoss()

* Entry handling properties can be either programmatically set or set through the Strategy dialog window


Import instructions:

NinjaTrader 8

1. Download the file contained in this thread to your PC desktop
2. From the Control Center window, select the menu Tools > Import > NinjaScript
3. Select the downloaded file

NinjaTrader 7

1. Download the file contained in this thread to your PC desktop
2. From the Control Center window, select the menu File > Utilities > Import NinjaScript
3. Select the downloaded file and click Import.