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Daily Loss Limit
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Daily Loss Limit

  #11 (permalink)
Elite Member
Calgary, Alberta
 
Futures Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: Kinetick
Favorite Futures: ES
 
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GeeBee View Post
Is there any indicator for Daily Loss and Profit limit. I don't know how to make one. Thanks

Yes. It is called your butt, which you use to sit on your hands.

I am not sure what you mean by 'indicator'. To do what? Stop you from trading once your reach a predefined profit or loss?

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  #12 (permalink)
Membership Temporarily Revoked
Ath. Gr.
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES, 6E
 
Posts: 40 since Nov 2016
Thanks: 29 given, 12 received


drolles View Post
Would a solution be to search the trade collection for trades that occurred that day, then add the current PnL?

 
Code
if (dailyPnL > -(maxLoss))
                    {

                        if (Performance.AllTrades.Count != tradeCount)
                        {
                            tradeCount = Performance.AllTrades.Count;

                            foreach (Trade x in Performance.AllTrades)
                            {
                                if (x.Exit.Time.Date.CompareTo(Time[0].Date) == 0)
                                {
                                    dailyPnL += x.ProfitCurrency;

                                }

                            }

                        }

                        if (Position.MarketPosition != MarketPosition.Flat)
                        {

                            dailyPnL += Position.GetProfitLoss(Close[0], PerformanceUnit.Currency);

                        }

                    }
You would obviously need to reset the dailyPnL each day.

 
Code
if (Bars.FirstBarOfSession && FirstTickOfBar)
                    {

                        dailyPnL = 0;}
It when then work regardless if you are in backtest or live trading. You would always be searching the trade collection based on the current day. Of course, please feel to poke holes in my logic

This is smart ! Thanks.

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