Strategy: Scaling out of a position

[NinjaTrader_Josh]

A common technique used by discretionary traders is scaling in and scaling out of a position. To scale out of a position refers to closing a portion of your position when you hit a profit target and then raising your stop to close your remaining portion later.

The attached reference sample demonstrates the following concepts:

• Submitting Profit Target orders
• Submitting Trailing Stop orders
• Closing half of your position at a time

Important methods and properties include:

• MarketPosition
• SetProfitTarget()
• SetTrailStop()

Other methods and properties of interest include:

• EntriesPerDirection*
• EntryHandling*
• SetStopLoss()

* Entry handling properties can be either programmatically set or set through the Strategy dialog window

Import instructions:

• Download the file contained in this thread to your PC desktop
• From the Control Center window, select the menu File > Utilities > Import NinjaScript
• Select the downloaded file