Break Even

[cachevery]

Hi Support and Community,

Can someone please suggest how the breakeven option works?For e.g.,i have settings:

BreakEvenTrigger = 25 ticks
BreakEvenPlusTicks = 3 ticks

Should the price goes against me 25 ticks or in my favor,to trigger the option?

Thank you

[NinjaTrader_CalH]

Hello Cachevery,

Thank you for your post.

The Trigger point will be when you have 25 ticks in your favor, the stop loss will move to 3 ticks above your entry price.

Let me know if I can be of further assistance.

[cachevery]

Hello Cachevery,

Thank you for your post.

The Trigger point will be when you have 25 ticks in your favor, the stop loss will move to 3 ticks above your entry price.

Let me know if I can be of further assistance.

Are you sure??What`s the point in BE then?The whole point of BE is that you should exit at a no loss or small profit.The price should go AGAINST me 25 ticks,to trigger the BE,and then i want 3 tick (or whatever)+ Exit.I have the trail option to move in my favor.

It just seem to me that the BE in my strategy is not working.

[NinjaTrader_CalH]

Cachevery,

You can't break even, if the market price is below your entry price. The break even feature is designed for when you are positive in the market.

If you set the break even to 5 ticks and the value to 0, what you will see is when the market price has moved 5 ticks above your entry price, the stop loss will move to the entry price so that if the market went back down, you would exit at your entry, IE Break Even

Not the other way around.

[cachevery]

Cachevery,

You can't break even, if the market price is below your entry price. The break even feature is designed for when you are positive in the market.

If you set the break even to 5 ticks and the value to 0, what you will see is when the market price has moved 5 ticks above your entry price, the stop loss will move to the entry price so that if the market went back down, you would exit at your entry, IE Break Even

Not the other way around.

Thanks Cal,

So what`s the workaround for the logic i described then,if any?Because to me the BE is exactly as i`ve described.

[NinjaTrader_CalH]

Cachevery,

Sorry, I don't think I follow along any more.

Can you please explain further?

[cachevery]

Cachevery,

Sorry, I don't think I follow along any more.

Can you please explain further?

The price should go AGAINST me 25 ticks,to trigger the BE,and then i want 3 tick (or whatever)+ Exit

Can it be done programmatically?

And another question,can a name "BE" be assigned to the BE logic,so i can see it as a "BE" in the Account Performance under the "Exit Name"

[NinjaTrader_CalH]

Cachevery,

The market does not work this way.

If you have an entry price and the market goes against it, the only way you could exit at BE would be to have a limit order waiting at the entry price and wait for the market to come back up to that point.

If you exit when the market goes against you, you would exit at that price, not BE

[cachevery]

Cachevery,

The market does not work this way.

If you have an entry price and the market goes against it, the only way you could exit at BE would be to have a limit order waiting at the entry price and wait for the market to come back up to that point.

If you exit when the market goes against you, you would exit at that price, not BE

The price should go AGAINST me 25 ticks,to trigger the BE,and then i want 3 tick (or whatever)+ Exit


Ca-a-a-a-l....Can it be done,programmatically??

[NinjaTrader_CalH]

cachevery,

I don't think there is a way to do this programmtically

[koganam]

The price should go AGAINST me 25 ticks,to trigger the BE,and then i want 3 tick (or whatever)+ Exit


Ca-a-a-a-l....Can it be done,programmatically??

You mean when the market has gone against you, instead of exiting, you want to place a limit order at 3 ticks above your entry (i.e, if long), reducing your profit target, and then wait for the market to go back in your favor? Just curious, but what if the market keeps going against you?

If I have misunderstood maybe you can give a somewhat more complete explanation? Just on general principle, it should be possible to place an order given any specified condition that has been met. It is just a matter of where.

[cachevery]

You mean when the market has gone against you, instead of exiting, you want to place a limit order at 3 ticks above your entry (i.e, if long), reducing your profit target, and then wait for the market to go back in your favor? Just curious, but what if the market keeps going against you?

If I have misunderstood maybe you can give a somewhat more complete explanation? Just on general principle, it should be possible to place an order given any specified condition that has been met. It is just a matter of where.

Correct,i want 3 or 1 tick plus to scratch out the trade,if it goes against me a certain points.From my observation,which is 200000000+ hours of screen time and live trading,and counting,you`ll always get 1 tick exit.Depends on where and how you enter,of course.You either get target or you scratch out.

No,you understood it.

[koganam]

Correct,i want 3 or 1 tick plus to scratch out the trade,if it goes against me a certain points.From my observation,which is 200000000+ hours of screen time and live trading,and counting,you`ll always get 1 tick exit.Depends on where and how you enter,of course.You either get target or you scratch out.

No,you understood it.

Without knowing whether you entered with an IOrder, it is hard to say which syntax would be used, so I will give you both (as alternatives). I am showing the long side only: the short side is a matter of adjusting the terms.

           if ((Position.MarketPosition == MarketPosition.Long) && (int)((LongEntryOrder.AvgFillPrice - Close[0])/TickSize) >= 25) EnterLongLimit(LongEntryOrder.AvgFillPrice + 3 * TickSize);

using an IOrder called LongEntryOrder for entry, otherwise use the Position price as below

            if ((Position.MarketPosition == MarketPosition.Long) && (int)((Position.AvgPrice - Close[0])/TickSize) >= 25) EnterLongLimit(Position.AvgPrice + 3 * TickSize);

[cachevery]

Without knowing whether you entered with an IOrder, it is hard to say which syntax would be used, so I will give you both (as alternatives). I am showing the long side only: the short side is a matter of adjusting the terms.

           if ((Position.MarketPosition == MarketPosition.Long) && (int)((LongEntryOrder.AvgFillPrice - Close[0])/TickSize) >= 25) EnterLongLimit(LongEntryOrder.AvgFillPrice + 3 * TickSize);

using an IOrder called LongEntryOrder for entry, otherwise use the Position price as below

            if ((Position.MarketPosition == MarketPosition.Long) && (int)((Position.AvgPrice - Close[0])/TickSize) >= 25) EnterLongLimit(Position.AvgPrice + 3 * TickSize);

Hi,

i understand it is yours?(attached)

Can you please add to this strategy the BE componet we were discussing?