How to programmatically override a TrailStop in unfavorable market conditions...

[JPPoulin]

Hello awesome NinjaTrader gurus!

I am attempting to fine-tune the usage of 'TrailStop()', and while reviewing the trades my strategy is creating I have noticed several horrible trail stops being inserted near daily market openings shortly after 9:30 am.

Generally my TrailStops are working well and get me out of a ton of problems but in conditions where the equity experiences a sharp drop in pre-market hours the trailstop will trigger right at market open and internalize my losses at the worst possible time...

What I would like to do in these situations is have the opportunity to review the circumstances of a trailing stop being created and pro grammatically cancel it if market conditions are bad. (In that situation I'd ask the code to cancel the ill-advised trail stop, leave the position open, and send me an email so that I can manually close that losing position in better market conditions (e.g. later in the day)

Is there an override function that can notify me of a position that is about to be closed so that I can cancel 'bad closes' and avoid horrible morning losses?

Thanks for the awesomeness!

Jean-Pierre

[NinjaTrader_ChelseaB]

Hello Jean-Pierre,

You cannot cancel a trail stop.

But if you wanted to use exit orders with trailing logic and cancel those, that would be fine.

Below is a link to an example.

https://ninjatrader.com/support/forum/forum/ninjatrader-8/platform-technical-support-aa/97419-priceos-cs-expecting?p=802269#post802269

[JPPoulin]

Awesome ChelseaB,

So if I understand correctly I can do what I need to do by 1) not using trail stops and 2) instead using the 'trailing logic' example you pointed to?

If so most awesome! I'll be studying this example in depth

[NinjaTrader_ChelseaB]

Hello JPPoulin,

Absolutely. A trail stop is just a stop market that is modified with logic to trail tick for tick. You could do that too.

[JPPoulin]

Thank you again very much ChelseaB for the heads up. I was able to study how the ProfitChaseStopTrailExitOrdersExample_NT8.zip (4.0 KB, 1 view) sample works and was able to replace my immutable stop loss for its programmatic equivalent (that can be easily modified as needed) so that I can prevent exiting a position at the worst possible time.

Reading that example makes me realize that strategy development is much more complex than I anticipated.
Q1: Is there a good tutorial that teaches a developer how to code a good strategy?
Q2: What is the most polished code example that demonstrates a well-designed (usable) strategy?

Thanks again

[NinjaTrader_ChelseaB]

Hello JPPoulin,

For our resources we put reference samples in the help guide and we have the tutorials in the help guide.

(edit, I should have put a link in here)

https://ninjatrader.com/support/helpGuides/nt8/en-us/reference_samples.htm

This thread will remain open for any community members that would like to provide you with their personal favorite guides.

I also may not be the best to ask for an opinion of what is the best polished usable strategy. Our support is more here to solve specific issues. The broader sense of what to do is more of a question for the community or other traders.

You might look through the User App Share and see if anything there interests you.

https://ninjatraderecosystem.com/user-app-share/

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[JPPoulin]

Hello ChelseaB,

Thanks for the help, I'll review the user app share area and hopefully will find something good.

I'd love the hear about some guides or some strategies that provide source code from the community if possible!

Thanks again