Falling Unrealized Profit Signal for Exit Help

[belsheec]

Hi, I'm new to ninjatrader so sorry if this is a somewhat basic question.

I want to add in a condition to an automated trading strategy that if my unrealized profit starts to fall by a certain amount (ticks or % or $) it sends a signal to exit the trade. For example, if you had a profit target of $300 and the strategy gets to $250 and starts to fall, the signal would exit the position after a loss of 20%. What's the best way to add in this condition?

Thanks!

[NinjaTrader_CodyB]

Hello,
Can you clarify if you are referring to a 20% loss from entry or 20% loss from the position being up $250?

[belsheec]

A 20% loss from the position being up $250

[NinjaTrader_CodyB]

Hello,
I have provided an example below of how you could achieve this. Please let me know if you have any questions on this example.

private bool profitRisk = false;
private double profitPrice = 0;

protected override void OnBarUpdate()
{
	if(Position.GetProfitLoss(Close[0], PerformanceUnit.Currency) = 250 && !profitRisk)
	{
		profitPrice = Close[0];
		profitRisk = true;
	}
	if(profitRisk && profitPrice != 0)
		if((profitPrice - Close[0])/ 100 == 0.2)
			ExitLong();
}

[belsheec]

Thank you so much!

if(Position.GetProfitLoss(Close[0], PerformanceUnit.Currency) = 250 && !profitRisk)

For this component is it possible to adjust the if statement to a value that is equal to or greater than?

[NinjaTrader_CodyB]

Hello,
Yes you would be able to substitute the =(note: should be == I apologize for the typo) with >=

[belsheec]

One last question: How can I modify the code to add in a condition to exit for a short as well?

Thanks again

[NinjaTrader_CodyB]

Hello,
You would use ExitShort(); to submit an exit order to a short position.
If you have not reviewed the order methods I would recommend to do so at the following link: http://ninjatrader.com/support/helpG...er_methods.htm