stop loss question

[miketpcc2]

I would like to set my stop loss to the low of the previous bar and also a hard out lets say of a 1 point, just incase the prevoius bars low is more then a point. how would this be written?

If long

SetStopLoss (Low[1]); or SetStopLoss(calculationmode.ticks, stoplossticks)



Stoplossticks is = 100tick

Is this correct

[NinjaTrader_Ray]

Once long, you would need to check the difference between the (Position.AvgPrice - Low[2]) / TickSize, then check if this calculation is less than 100 ticks if yes, call SetStopLoss(CalculationMode.Price, Low[2])...

Something like that.

[miketpcc2]

once long

stoplossticks= 100

if ((Postion.AvgPrice - Low[1]) / TickSize < 100 * TickSize)


SetStopLoss(Low[1])


if ((Postion.AvgPrice - Low[1]) / TickSize > 100 * TickSize)


SetStopLoss(CalcualtionMode.Ticks, stoplossticks);

does this look right to you as per your suggestion, one question why 2 bars ago?

[miketpcc2]

Also I just realized a problem, I only need this function to perform at entry bar only....

[NinjaTrader_Ray]

Will not work on entry bar since you don't have the average price of the position yet to calculate the difference between the prior bar low and the entry price.

[miketpcc2]

2 bars ago then correct?

[NinjaTrader_Ray]

You can run your calculation on the bar after entry (assuming you are filed by then) in which case you would want the low from 2 bars ago.

[miketpcc2]

Ray thanks for your help, we fixed the 2 bar ago proble


if (Position.MarketPosition == MarketPosition.Flat)
{
SetStopLoss(CalculationMode.Ticks, stoplossticks);
}

// If a long position is open, allow for stop loss modification elseif (Position.MarketPosition == MarketPosition.Short
&& High[0] <= Position.AvgPrice - 5 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice + 20 * TickSize);
}
if (Position.MarketPosition == MarketPosition.Short
&& High[0] <= Position.AvgPrice - 25 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice - 10 * TickSize);
}

THE CODE ABOVE IS WHAT WE HAVE FOR THE TRAILING STOP, I KNOW IT IS INCORRECT DUE FACT IT CONTINUES TO RECALULATE BASED ON THE LAST BAR WHEN IN THEORY I NEED TO KNOW ONCE I HAVE A 25 TICK PROFIT IT WILL LOCK IN A 10 TICK STOP LOSS AND NOT RECALCULATE AGAIN LEAVING THE STOP LOSS SET AT 10 TICKS

[NinjaTrader_Ray]

Not sure what your question is...in any case, the code will do what you have scripted, if its not working as expected you will have to debug it and figure out what tweaks you need to introduce etc...