Manipulating StopLoss

[edgeliner]

The following code will set the stop loss to break-even, but it will not adjust the stop loss to a profit of 10 when it is up 25, nor a profit of 25 when it is up 50! Can anyone tell me why??


// Resets the stop loss to the original value when all positions are closed
if (Position.MarketPosition == MarketPosition.Flat)
{
SetStopLoss(CalculationMode.Ticks, 50);
}

// If a long position is open, allow for stop loss modification to breakeven
elseif (Position.MarketPosition == MarketPosition.Long)
{
// Once the price is greater than entry price+10 ticks, set stop loss to breakeven
if (Close[0] > Position.AvgPrice + 10 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice);
Print("Code has entered into a break-even situation");
}
}

// If a long position is open, once the price is greater than entry price+25 ticks, set stop loss profit of 10
elseif (Position.MarketPosition == MarketPosition.Long)
{

if (Close[0] > Position.AvgPrice + 25 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice + 10);
Print("Code has entered into a minimum 10 PIP profit situation");
}
}

// If a long position is open, // Once the price is greater than entry price+50 ticks, set stop loss profit of 25
elseif (Position.MarketPosition == MarketPosition.Long)
{

if (Close[0] > Position.AvgPrice + 50 * TickSize)
{
SetStopLoss(CalculationMode.Price, Position.AvgPrice + 25);
Print("Code has entered into a minimum 25 PIP profit situation");
}

[NinjaTrader_JoshP]

Please provide more information. Is your code even getting inside the if-statements? Are those print statements triggering?

I suspect not. You are using else-ifs. The way those work is if one of them is true the rest do not evaluate.

[edgeliner]

In the output window, it does print "Code has entered into a break-even situation", but that is as far as it goes. Should I get rid of the else if?

[NinjaTrader_JoshP]

Yup. Once one of them is evaluated to true the rest are essentially skipped.

Right now you are doing this in english:

If ____ do ____, or else if ____ do _____.

"or else" does not happen unless the first "if" is false. If the "if" is true there is no "or else" to follow.

[edgeliner]

Is there a better way to adjust to a tighter stoploss as the profits increase?

[NinjaTrader_JoshP]

You need to just submit the modifying orders when the proper conditions arise.

[edgeliner]

Would eliminating all the "else if"'s take care of that? (and just use "if"?)

[NinjaTrader_JoshP]

Sure thing. If you remove the elses this is what it sounds like in english:

if ____, do ____. if _____, do _____. It will just keep following the code sequentially.

[edgeliner]

Thanks Josh!