ATM Stop Strategy applied to target added

[junmachan]

I'm wondering what kind of Stop strategy (i.e. Auto trail, etc.) will be used for the additional target generated by "Add Target".

For example, when I use an ATM stragtegy for 2 targets, and if I want to scale in, I'm going to have a following scenario:
1. Submit an order (for 2 lots, for example)
2. Filled. I have 2 targets with 2 stops.
3. Price changes
4. Submit an additonal order (for 2 lots)
5. Filled. Now the ATM simply increments the number of the lots in the existing targets without changing the target prices (this is fine)
6. Add an additonal target by the "Add Target"
7. Now I have 3 targets.

So what kind of ATM Stop Strategy is used for the third one? (at 7) Or is there any way I can check or modify the Stop Strategy against a new target? Or just stop loss?

Thanks,
Jun

[NinjaTrader_Ben]

Hello Jun,

Thank you for your post.

In your example you have not indicated that you have set up a stop strategy at all. So no stop strategy would be applied to the target.

[junmachan]

But can I set up a stop strategy for the third one after "Add Target"? Or how can I set up the stop strategy for the new one in advance?

Or does NinjaTrader use the ATM strategy at the time of "Add Target", i.e. can I change and specify an ATM strategy that deals with 3 targets with stop strategies?

Thanks,
Jun

[NinjaTrader_Jason]

Hello Jun,

I suggest to set the ATM Strategy selection mode in the DOM properties to "KeepSelectedAtmStrategyTemplateOnOrderSubmission" . Your second entry order will now submit its stop loss and profit target at the prices you specified in the ATM strategy that is selected instead of adding the stop loss and profit target to the existing stop loss and profit target.

The stop loss related to the profit target of the second entry order that is modified by clicking "Add Target" uses the stop strategy that is selected upon submitting your second entry order. Since it is submitted at a different price (KeepSelectedAtmStrategyTemplateOnOrderSubmission) , you can right click on the stop loss (in sell column if long, vice versa) and disable the stop strategy. Right click again and select Auto Breakeven/AutoTrail properties and set up your stop strategy. Right click again and enable the stop strategy again.