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Trailing stop question

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    Trailing stop question

    Hello,

    I have what I think is a simple question on how to use trialing stop in a script. I run a simple scalping (short) strategy where an event happens and I take a short position. Right now I take 5 pips profit. I get a high percentage at this target but I notice on quite a few trades I could ride quite a bit more.

    Can I use a trailing stop order instead of stop loss and take profit? I really want to be able to stop out at 10 pips loss and take minimum of 5 pips profit but but keep going as long as the position keeps improving. How would I structure something like this in Ninja Trade scripting. I already have a strategy but would like to replace stop loss/ take profit with something like I described. Hope it makes sense. Any help is appreciated.

    #2
    Hello,

    In order to scale out you will need to scale in first. Then you can set a stoploss for half of the position and a trailing stop for the other half. Note: you can't convert the stoploss to a trailing stop.

    Please review this link on scaling out:

    http://www.ninjatrader-support.com/v...ead.php?t=3751
    DenNinjaTrader Customer Service

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