How to delay entry after a profitable trade?

[ShadowKnows]

Hi,

I have exit strategy as below:

SetProfitTarget("Long1", CalculationMode.Percent, MyProfitPercent);
SetStopLoss("Long1", CalculationMode.Percent, MyStopPercent, true);

If a trade is stopped out, it's ok, the next trade can be triggered any time if the condition is met. But if a trade reaches the profit target, I want the program to wait a certain number of bars even though the condition is met again. How to do this?

In my case, when a trade reaches profit target, the next trade triggers immediately because the condition is met again... I want to avoid this, but I don't want to limit my program to have only one trade a day, besides for stopped out case, it's ok to let the next trade happen once the condition is met.

Thanks.

[koganam]

Hi,

I have exit strategy as below:

SetProfitTarget("Long1", CalculationMode.Percent, MyProfitPercent);
SetStopLoss("Long1", CalculationMode.Percent, MyStopPercent, true);

If a trade is stopped out, it's ok, the next trade can be triggered any time if the condition is met. But if a trade reaches the profit target, I want the program to wait a certain number of bars even though the condition is met again. How to do this?

In my case, when a trade reaches profit target, the next trade triggers immediately because the condition is met again... I want to avoid this, but I don't want to limit my program to have only one trade a day, besides for stopped out case, it's ok to let the next trade happen once the condition is met.

Thanks.

Do you have a defined code block that resets variables at the start of the day/session?

[NinjaTrader_CalH]

Hi,

I have exit strategy as below:

SetProfitTarget("Long1", CalculationMode.Percent, MyProfitPercent);
SetStopLoss("Long1", CalculationMode.Percent, MyStopPercent, true);

If a trade is stopped out, it's ok, the next trade can be triggered any time if the condition is met. But if a trade reaches the profit target, I want the program to wait a certain number of bars even though the condition is met again. How to do this?

In my case, when a trade reaches profit target, the next trade triggers immediately because the condition is met again... I want to avoid this, but I don't want to limit my program to have only one trade a day, besides for stopped out case, it's ok to let the next trade happen once the condition is met.

Thanks.

Hi ShadowKnows,

Thanks for posting!

To create a delay in the entry you can use the BarsSinceExit method to determine when to enter in a trade.

After your profit trigger, you can have an if statement that uses BarsSinceExit() set to a number of bars after it and if your still being profitable.

Look something like this.

if ((BarsSinceExit() > 10 || BarsSinceExit() == -1) && CrossAbove(SMA(10), SMA(20), 1))
         EnterLong();

Click here for more info on using BarsSinceExit()

Let me know if I can be of further assistance

[ShadowKnows]

Look something like this.

if ((BarsSinceExit() > 10 || BarsSinceExit() == -1) && CrossAbove(SMA(10), SMA(20), 1))
         EnterLong();

Click here for more info on using BarsSinceExit()

Let me know if I can be of further assistance

Thanks a lot, Cal. It's pretty much what I was looking for. But there is one more thing, is it possible to know if the last exit is a stop-out or a profit target?

I want to wait only when the last exit is due to hitting the target.

Thanks.

[koganam]

Thanks a lot, Cal. It's pretty much what I was looking for. But there is one more thing, is it possible to know if the last exit is a stop-out or a profit target?

I want to wait only when the last exit is due to hitting the target.

Thanks.

Hence my question. You are going to need a bool to keep track of that, and that bool will have to be reset. Easiest is to reset at start of the day's trading, but I guess we can finagle it to happen somewhere else, using the TradesPerformance class to determine if the last trade was a profit or loss.

[ShadowKnows]

Hence my question. You are going to need a bool to keep track of that, and that bool will have to be reset. Easiest is to reset at start of the day's trading, but I guess we can finagle it to happen somewhere else, using the TradesPerformance class to determine if the last trade was a profit or loss.

There are multiple trades per day, it seems not possible to use TradesPerformance to determine if the last trade was a profit or loss?

[NinjaTrader_CalH]

Hi ShadowKnows,

I have linked a great reference sample from our support forum on using the TradesPerformance and using that as a key to getting last trades profit.

http://www.ninjatrader.com/support/f...ead.php?t=4084

There is also a section in our online help guide that will explain the optioin with using TradesPerformance. You can test for a losing trade or winning trade
http://www.ninjatrader.com/support/h...collection.htm

[koganam]

There are multiple trades per day, it seems not possible to use TradesPerformance to determine if the last trade was a profit or loss?

You can always determine if a particular trade was a profit or loss, especially the last trade, no matter how many trades there have been.

[ShadowKnows]

Thanks a lot. I think I got it.

[hifreq]

I want to use barsinceexit before entering into a new trade but if that is part of the condition set it will never trigger an entry b/c the very first trade was not coming out on another trade - how do i get around that. my coding skills are weak