Runaway trades

[JayScat]

I use a price line chart to automatically enter trades when the price line crosses the indicator of choice. Occasionally after the price line crosses the indicator and places me in a trade it immediately reverses back across the indicator line before the bar closes and leaves me in a runaway trade going the wrong direction. I manually bail out in this case buit it is hactic doing that. and defeats the purpose of auto trading. Is there a way to automatically take the trade off if the price line reverses back across the indicator line before the bar closes?

[NinjaTrader_Ben]

Hello,

Would placing the order with an associated stop loss help? That way the stop loss is there as soon as the order is filled, protecting it. This link will help: (I am assuming you are using the ChartTrader.)

http://www.ninjatrader-support.com/HelpGuideV6/SubmittingOrders2.html

[JayScat]

No I'm not using the ChartTrader feature although I love it. I am using a strategy I made from the wizard. It is all automatic. Price crosses the trigger line and withdraws leaving me in a long and then runs south on some occasions. Have to watch it closely when signals come and manually take the trade off if it fails. That defeats the purpose of auto trading. I can put in an autostop on entry but I'd rather just have the trade killed when price pulls back across the line. I can put in an auto stop as you suggest but I'd like to have the trade exit when price pulls back across the trigger. This is only a problem when price pulls back on the signal bar. Can this trade removal on reverse before bar close be programmed into the system?

[NinjaTrader_Chip]

Hello JayScat,

Yes – this can be programmed but may require a little more programming NinjaScript. NinjaScript is NinjaTrader's extension to the powerful Microsoft C# language. In addition to the core functionality of C# and the Microsoft .NET framework we have added features designed for the rapid implementation of custom indicators, automated trading systems and custom drawing.

This link will take you to the NinjaScript section of our Help Guide:

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?Overview17

Please feel free to join any of our Free educational webinars. You may be especially interested in one entitled “Automated Strategy Development I” – here is the detail:

http://www.ninjatrader.com/webnew/events_onlinetrading_NinjaScript.htm

If you’re not a programmer & your strategy is complex, you can check out this link for a list of NinjaScript consultants.

http://www.ninjatrader.com/webnew/partners_onlinetrading_NinjaScript.htm

You can also register for our Free Support Forum. There is a large community of programmers & traders that you can share ideas with & ask questions. Just follow this link:

http://www.ninjatrader-support2.com/vb/index.php

Please let me know if I can answer any additional questions.