How to set ProfitTarget and Stoploss as (open price+x) and (open price -x)

[SuperDriveGuy]

Hi,
I have created my first strategy and see some results, but I have not set the ProfitTarget and Stoploss correctly so I get skewed figures.

How do I set the ProfitTarget to (opening price + 37 points) and StopLoss to (opening price - 10 points)?

Thanks,

[NinjaTrader_Josh]

In the Initialize() method please use SetProfitTarget(CalculationMode.Ticks, 37) and SetStopLoss(CalculationMode.Ticks, 10). Please see these articles: http://www.ninjatrader-support.com/H...fitTarget.html
http://www.ninjatrader-support.com/H...tStopLoss.html

[SuperDriveGuy]

Originally Posted by NinjaTrader_Josh

In the Initialize() method please use SetProfitTarget(CalculationMode.Ticks, 37) and SetStopLoss(CalculationMode.Ticks, 10). Please see these articles: http://www.ninjatrader-support.com/H...fitTarget.html
http://www.ninjatrader-support.com/H...tStopLoss.html

Hi Josh,

I have tried this before, but it does not have the desired effect. The entries are being opened and closed the same second. If I use percentage, it does resemble what I want, but not with points.

So for the DJIA I am able to say ProfitTarget is .5% and TrailingStopLoss .17 and that works! So for a position opened at 7450, I would get a profittarget of 7487 and trailing stoploss of 7438.

Want I want is if I buy the DJIA at 7450, then I want the ProfitTarget to be 7487 and the trailing stoploss to be 7440.

I hope I am making some sense :-)

Regards

[NinjaTrader_Josh]

Ticks are not points depending on your instrument. You need to do the math to figure out what would equate to the points.

[SuperDriveGuy]

Originally Posted by NinjaTrader_Josh

Ticks are not points depending on your instrument. You need to do the math to figure out what would equate to the points.

Thanks! I got the point.