SetStopLoss and SetProfitTarget for multiple instruments

[adamus]

Can you tell me if the SetProfitTarget and SetStopLoss methods are set up to work in strategies which trade multiple instruments?

I am trading several currencies in one strategy and when certain conditions are met, I call these methods and then submit a market order.

Will NT7 manage the stop and target properly for that instrument, and allow me to go on and call the methods again for the other instruments in the strategy?

Or do these methods only work for the primary instrument?

Thanks

[NinjaTrader_RyanM1]

Hello Adamus,

Yes, you can use Set statements in a multiinstrument strategy. NinjaTrader will submit stop loss and target orders according to the last values used for these statements. They will apply to either all entries or specific entries, depending on whether you specified an entry in fromEntrySignal.

SetStopLoss(string fromEntrySignal, CalculationMode mode, double value, bool simulated)

[adamus]

Yes but once I have submitted the stop loss and target at one price for one instrument, e.g. 1.5400 and 1.5900, and the position and orders are live, I then go on to the next instrument.

Assume I don't use a fromEntrySignal, but I set the stop loss and target again, this time to 0.8900 and 0.8950 and I put on a position for the next instrument, will that affect the stop loss and target orders on the previous instrument?

[NinjaTrader_RyanM1]

Yes, it will use the last value submitted and apply to other instruments if you're not using fromEntrySignal. If you're using calculation mode percent or ticks, then it submits these orders in relation to the entry price.

If you're using mode price, then you would definitely want separate statements for each instrument. They can be applied to distinct entries only through fromEntrySignal used, so doing this will help you apply the values only to the instrument you want.

[adamus]

Finally managed to get my strategy working, with 21 forex pairs and using the fromEntrySignal label for with SetStopLoss and SetProfitTarget is working nicely in backtesting. Thanks for the help.

[NinjaTrader_RyanM1]

Thanks for the follow up, adamus.