Auto-breakeven in strategy

[cassb]

Is there a way to use SetStopLoss() in a strategy to set a default stoploss in the Initialize() tag and then reset that stoploss later in OnBarUpdate() to breakeven at some particular profit level? I tried it and it didn't work -- it just immediately set a breakeven stoploss as soon as the order was filled. I'm looking for an example of it working somewhere. I don't want to manage my profit target and stoploss manually in the OnOrderUpdate() tag.

Thanks!
Bryan

[NinjaTrader_Ray]

Sure, just call the method with the new price.

Here is a reference sample - http://www.ninjatrader-support.com/v...ead.php?t=3222

[cassb]

Originally Posted by NinjaTrader_Ray

Sure, just call the method with the new price.

Here is a reference sample - http://www.ninjatrader-support.com/v...ead.php?t=3222

I already tried that in OnBarUpdate() like this:

if (Position.MarketPosition == MarketPosition.Long && GetCurrentBid() >= (Position.AvgPrice + (TickSize * breakeven)))
{
SetStopLoss("MyEntry", CalculationMode.Ticks, 0, false)
}

It just immediately set a breakeven stoploss as soon as the order was filled.

[NinjaTrader_Ray]

Please review the reference sample again and pay attention to the first SetStopLoss() call in OnBarUpdate() which is a reset step.

[cassb]

Originally Posted by NinjaTrader_Ray

Please review the reference sample again and pay attention to the first SetStopLoss() call in OnBarUpdate() which is a reset step.

D'oh. Oh yeah... forgot about the reset step, thank you.

[cassb]

Question about that sample code...

// Once the price is greater than entry price+50 ticks, set stop loss to breakeven

So once you do reset the stoploss to breakeven, how do you prevent it from (re)setting the stoploss to breakeven on every OnBarUpdate() call? Seems like that might slow down the processing. I guess I could set a local variable to signal when the breakeven was set and check that, if that's the only way.

Also, a seconary question... if I want to set my breakeven using the last price instead of Close[0], what is the method for that? I can't seem to find it -- I found GetCurrentAsk() and GetCurrentBid(), but not GetLastPrice() (or something like that).

Thanks, Ray!

[NinjaTrader_Ray]

NT is smart enough to ignore method calls that don't change anything.

Close[0] is last price.

[cassb]

Originally Posted by NinjaTrader_Ray

NT is smart enough to ignore method calls that don't change anything.

Close[0] is last price.

Good job on the core code then! :-)

And yes... I should have guessed that Close[0] will always be the latest price for a bar. Thanks!

[cassb]

I'm sorry, but it still doesn't seem to work. I copied the code from the sample and modified it a bit. This is what I'm trying to execute:

            else if (Position.MarketPosition == MarketPosition.Long)
            {
                double breakevenprice = (Position.AvgPrice + (breakeven * TickSize));
                Print("Last price = " + Close[0] + ", PositionAvg = " + Position.AvgPrice + ", breakeven = " + breakevenprice);
                // Once the price is greater than entry price+breakeven ticks, set stop loss to entry price
                if (Close[0] > Position.AvgPrice)
                {
                    Print("Setting Stoploss to " + Position.AvgPrice);
                    SetStopLoss(CalculationMode.Price, Position.AvgPrice);
                }
            }

And this is what I get in the Output window when it runs, and it never does actually change the stoploss price in the SuperDOM.

Last price = 731.7, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6
Last price = 731.8, PositionAvg = 731.6, breakeven = 731.8
Setting Stoploss to 731.6

[NinjaTrader_Ray]

Sorry, you will have to debug your code to figure out what is happening.

[cassb]

Originally Posted by NinjaTrader_Ray

Sorry, you will have to debug your code to figure out what is happening.

I'm trying to... but when the SetStopLoss() call executes, it's not changing the stoploss for the working order. Here, I turned on TraceOrder and also put a line in OnOrderUpdate() to Print(order.ToString()) as well. It looks like it's calling your internal SetStopTarget() method over and over, but the actual stop order is not being changed to 731.5, nor is OnOrderUpdate() being called. Is this a bug in the core code?

[...]
Last price = 731.6, PositionAvg = 731.5, breakeven = 731.7
Last price = 731.6, PositionAvg = 731.5, breakeven = 731.7
Last price = 731.7, PositionAvg = 731.5, breakeven = 731.7
Setting Stoploss to 731.5
5/7/2008 9:50:46 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=731.5 Currency=0 Simulated=False
Last price = 731.7, PositionAvg = 731.5, breakeven = 731.7
Setting Stoploss to 731.5
5/7/2008 9:50:46 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=731.5 Currency=0 Simulated=False
Last price = 731.7, PositionAvg = 731.5, breakeven = 731.7
Setting Stoploss to 731.5
5/7/2008 9:50:46 AM Entered internal SetStopTarget() method: Type=Stop FromEntrySignal='' Mode=Price Value=731.5 Currency=0 Simulated=False

[NinjaTrader_Josh]

Not sure what you are seeing. How are you determining that your stop loss is not set to breakeven? If you run this you should be able to watch the order in the Control Center and watch it move up to breakeven.

[pdawg]

Brian this code works, just put in your strategy code in the appropriate spots, or run it as is to see it work.

Also I have coded a 3 step trail stop strategy if you want something that allows more complex stop movement strategies, like what ATM can provide. Hope it helps.

[cassb]

Originally Posted by Josh

Not sure what you are seeing. How are you determining that your stop loss is not set to breakeven? If you run this you should be able to watch the order in the Control Center and watch it move up to breakeven.

Hi Josh. I do watch the order in SuperDOM and the original stoploss at 10 ticks stays set... it does not move to breakeven when SetStopLoss() is called. I can't debug the core NT code, so I'm not sure how to proceed to figure this out. I guess what I could do is create a simple strategy with just this method and see if I can reproduce it for you and send you the strategy code.

[cassb]

Originally Posted by pdawg

Brian this code works, just put in your strategy code in the appropriate spots, or run it as is to see it work.

Also I have coded a 3 step trail stop strategy if you want something that allows more complex stop movement strategies, like what ATM can provide. Hope it helps.

Hey, thanks pdawg! That's kind of you. I'll load it and take a look.

Bryan