Documentation

Available Topics:

Things to know
Settings
Symbol Manager
Quote & Positions
Order Parameters
Strategy Manager
Message Window
Order Entry
Order Management
Manual Scaling
Trail Management
Chase
Simulated Entry & Stops
Statistics Manager
Automated Trading
Miscellaneous
SuperDOM

 

Trail Management

Listen to an audio presentation here.

NT's features an optional 2-step trail management system that is flexible. It can be turned on or off any time during an open position.  When off, the button outline is RED, when on, the outline is GREEN. Trail uses the LAST price as default for calculating STOP adjustments. The BID/ASK can be used as an option which can be set under "SETTINGS".

2-step means that there is an optional 2nd-step available to decrease the offset and frequency of your trail.  See examples below. The standard parameters are Offset, Increment and Trigger. When trail adjusts your STOP LOSS price a quick 'pop' sound will play.

AutoOn - When this is checked, trail will be automatically turned on when a new position is opened.

Offset

This is your trail offset measured from the inside market. If your Offset is 2, then your trail would be 2 pts from the last highest LAST trade value (for longs) during the time your trade has been open.  Reverse for shorts.

Increment

This is the rate at which your trail is moved. If your Increment is set to 1, then your trail would be moved every 1 increment in pt gain.

Trigger

This is when the NT trail algorithm initiates. If your trigger is set to 3, then once the LAST price (for longs) hit 3 pts above your average entry fill price, the trail would start.

The NT trail system does NOT hold your order hostage. At any time, you can manually adjust your STOP. If you tighten your STOP higher than the next trail stop, NT will just leave your STOP as is until it catches up. If you widen your STOP, NT will move your STOP higher. To avoid this, simply turn off the trail.

TRAIL EXAMPLE 1: In this example, a traditional trail stop is set for the NQ's. If we were long, as soon as the LAST price moved up 1 tick (0.50 trigger) from our entry price, the trail would start. The STOP would be immediately moved 2 ticks (1.00 offset) below the trigger point, or in other words, 1 tick below our entry price. Every 1 tick (0.50 increment) in gain, our STOP would be moved up.     TRAIL EXAMPLE 2: In this example, we demonstrate the power of NT. In this case, we have elected to use the option 2nd step. This is valuable when you want to tighten your stop when you reach certain levels of profit. If we were long, as soon as the LAST price moved up 3 pts from our entry price, the STOP would be raised to breakeven since our offset is 3 pts. Thereafter, every pt gain would raise our stop by 1 pt until the 2nd step trigger of 6 pts is hit. At that point, our STOP would be raised to 1 pt (2nd step offset) below locking in 5pts in gains. Our STOP would now move up with every tick (0.50 2nd step increment) in gain in LAST price.