SetStopLoss() resetting

[akkiss]

Hi, I need some help
In my strategy to set the stop, I use the SetStopLoss() method. In the refernce book there is a suggestion, to reset the stop loss price, when the strategy is flat, otherwise the last stop price value will be used to generate the stop loss order on the next open position.
I thought, that I wright to the OnPositionUpdate:
if(position.MarketPosition == MarketPosition.Flat)
// resetting the stop loss

But how can I do the reset?

And is this method the best place to do it?

Thank you for advance

Kind regards

Akos

[NinjaTrader_DaveI]

Hello,

You have the condition right, but I recommend placing it in OnBarUpdate() rather than OnPositionUpdate(). Below is a sample that will show how to reset the stop loss to its original values, assuming that stoplossticks is an int variable holding the original value:

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

We have a reference sample that shows this in action, which you can see at the link below:

http://www.ninjatrader.com/support/f...ead.php?t=3222

[akkiss]

Hi Dave
Thank you for your help, but a have had a question yet. The first position closed, and in the second a don't want use stop loss. So I need to "switch off" the stop loss, like it had never been before. Is there any solution for this?
Kind regards
Akos

[NinjaTrader_DaveI]

Hello,

There is not a way to cancel an order placed by SetStopLoss(), but you do have a few options available to accomplish the same goal. One option is to set the stop loss to a value so far away from the price that it will never be filled (such as 100 ticks away).

Alternatively, you could use ExitLongStop(), ExitShortLimit(), etc., assign it to an IOrder object, then call CancelOrder() on those orders. For more information about using IOrder objects and CancelOrder(), please see the links below:

http://www.ninjatrader.com/support/h...ancelorder.htm

http://www.ninjatrader.com/support/h...tml?iorder.htm