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Can Ninja Trader Close Itself?


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  #1 (permalink)
ytmoon888
china
 
Posts: 4 since Aug 2011
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Hi everyone,
I'm a new trader. Now I found my emotion can easily out of control when I lose more money than I can bear, so I want to ask can I set a lose upper limit for ninja trader? if I lose more than the limit, then ninja trader can close itself?

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  #2 (permalink)
 
medias's Avatar
 medias 
Karlsruhe, Germany
 
Experience: Advanced
Platform: MultiCharts, AmiBroker
Broker: IB/IQFeed
Trading: Stocks, Emini ES
Posts: 59 since Jul 2009
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It can not be done out of the box. An experienced NT coder could solve the task, though not easily.
IMHO you should not trade real money if you are not able to respect your stops or daily loss limit. Prepare yourself mentally BEFORE pulling the trigger.

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  #3 (permalink)
 
monpere's Avatar
 monpere 
Bala, PA, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Mirus, IB
Trading: SPY, Oil, Euro
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ytmoon888 View Post
Hi everyone,
I'm a new trader. Now I found my emotion can easily out of control when I lose more money than I can bear, so I want to ask can I set a lose upper limit for ninja trader? if I lose more than the limit, then ninja trader can close itself?

I believe some brokers can do that for you, where you set a daily loss limit with them, and their system will no longer accept orders from you for the day, once you've reached that loss limit. I think I remember the rep from DeepDiscountTrading mentioning that they had this feature.

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  #4 (permalink)
ytmoon888
china
 
Posts: 4 since Aug 2011
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Of course I try to control my emotion, but I just want to have an insurance when I out of control, If it difficult just realize by ninja trader, can other tools can use ninja trader's P&L to realize it? for example, write a auxiliary program or tools can monitoring ninjatrader's P&L, when it lose more than a limit, then close it for a given time, or let ninja trader cannot place order.


medias View Post
It can not be done out of the box. An experienced NT coder could solve the task, though not easily.
IMHO you should not trade real money if you are not able to respect your stops or daily loss limit. Prepare yourself mentally BEFORE pulling the trigger.


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  #5 (permalink)
 larrysy 
Toronto, Canada
 
Experience: Beginner
Platform: Bracket Trader
Trading: ES
Posts: 2 since Oct 2012
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Bracket Trader can close itself after a set amount of loss for the day.

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  #6 (permalink)
Lou Grant
New York, NY
 
Posts: 9 since Oct 2010
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monpere View Post
I believe some brokers can do that for you, where you set a daily loss limit with them, and their system will no longer accept orders from you for the day, once you've reached that loss limit. I think I remember the rep from DeepDiscountTrading mentioning that they had this feature.

Yes, Deep Discount offers this. I was told it was something to do with the TT feed, so maybe other brokers can do it too.

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  #7 (permalink)
 decs0057 
Munich, Germany
 
Experience: Intermediate
Platform: NinjaTrader, TWS
Broker: IB, NinjaTrader Brokerage
Trading: ES,NQ,6E
Posts: 71 since Feb 2010
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you can close application with c# code
see C# Closing Applications - Stack Overflow
this should also work for NT

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  #8 (permalink)
 BarOne 
San Francisco, CA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, TF, 6E, 6B, QM
Posts: 25 since Nov 2010
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has anyone used https://www.traderguardianangel.com? I'm looking for a tool that helps me manage losses and keep me out of trading destruction.

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  #9 (permalink)
 kiont 
Tokyo, Japan
 
Experience: Beginner
Platform: thinkorswim, NT
Trading: ES, Euro
Posts: 15 since Jun 2013
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With all due respect, I think you should learn how to stop trading when you need, instead of relying on a piece of software to do it for you.

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  #10 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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Swing Trader
 
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BarOne View Post
has anyone used https://www.traderguardianangel.com? I'm looking for a tool that helps me manage losses and keep me out of trading destruction.

Create a proper thread in the vendor review section please

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