NT7 ATM Strategy- Is This Possible?

[i2w8am9ii2]

Hello,

I am wanting to create a specific ATM Strategy and want to know if what I am wanting to do is possible or not.

Long ATM Strategy EXAMPLE:

First, upon my long entry, I want 1 contract to be entered into, long

Then I want a 10 tick stop-loss for 1 contract to be placed below my long entry

After that I want 4 additional contracts to be entered into, only if the market moves up by 3 ticks (a 4 contract buy-stop placed 3 ticks above my initial entry)

Then, after 4 additional contracts have been added, I want for my stop-loss to now be a 10 tick stop for 5 contracts in total

Last of all, I want for my stop-loss to move up by 3 ticks (so that my additional 4 contracts added have a 10 tick stop-loss and not a 13 tick stop)

My reason for this ATM Stategy is this; I only want to scale-in to a position by adding 4 additional contracts when the market demonstrates directional conviction and follow through.

If the market does not demonstrate directional conviction, then I want to remain in 1 contract, so that I can attempt to have 1 contract losers and 5 contract winners.

I want for the ATM Strategy to scale-in the additional contracts automatically, and not attempt to do it manually, because in fast moving markets, there is not enough time

Is this ATM Strategy possible? If so, please show a screenshot or list out how I would set it up.

If one part of this ATM Strategy is not possible, please let me know what it is so that I can determine if I can easily do without it or not.

Thanks,

[NinjaTrader_RyanS]

Hello,
Thanks for writing in.

You would need to use multiple ATM strategies or multiple entries for this type of strategy, as ATM's can only be attached to a single entry order at a time.

It sounds like you want all entries to have a 10 tick stop, so you could setup a simple 10 tick stop ATM, and use multiple entries. For instance, enter into the long position, then increase the QTY to 4, and manually enter a buy stop order, keeping the active ATM strategy selected, 3 ticks above entry. This will put you in a 5 contract position with all 5 contracts having a stop 10 ticks behind your first entry.

Alternatively, if you would like the 4 contracts to have a stop 10 ticks behind their respective entry, you would reselect the ATM strategy rather than keeping the active ATM strategy selected after placing the first order.

Please let me know if you have any further questions.

[i2w8am9ii2]

Hi Ryan,

Thanks for the reply and info.

When you say in your last paragraph:

... you would reselect the ATM strategy rather than keeping the active ATM strategy selected after placing the first order.

I cannot visualize that. How would I reselect the ATM Strategy?

Thanks again,

[NinjaTrader_RyanS]

Hello,

Thanks for the note.

Re-selecting the ATM strategy would be going to the drop down menu and selecting the ATM strategy again, instead of using the active ATM strategy. When you place a trade with an ATM, you'll see the drop down menu display the ATM with a lightning bolt in front of it, and a -1 behind the name indicating it is the active ATM strategy. Re-selecting the ATM strategy will attach a new instance of the ATM, rather than adding to the active ATM strategy.

I have included a link below with more information on the active ATM strategy:

https://ninjatrader.com/support/helpGuides/nt8/en-us/atm_strategy_selection_mode.htm

Please let me know if I may assist further.

[i2w8am9ii2]

Hi Ryan,

Thanks for the explanation and for the link with more details.

I appreciate it.