Quick Toggle On/Off of Automated Strategy

[drmartell]

I am primarily a discretionary trader. I have a methodology that buys or sells the closing price of 5 min bar on the ES. In order to improve my chances of getting a fill, I want to get my bid or offer in as soon as the bar closes using an automated strategy.

However, the decision as to whether to act on an particular bar is discretionary.

So I am wanting some suggestions on a very rapid way to toggle an automated strategy on/off, I usually make the decision within 5 to 30 seconds of the bar closing, so I need something that is quick and simple.

[NinjaTrader_Bertrand]

You could try the start / stop button if you launch the strateg from the strategies tab - http://www.ninjatrader-support.com/H...tegiesTab.html

But this might not be convenient enough for your situation, I would suggest creating an ATM strategy and then submitting the entry order from the ChartTrader panel upon satisfying your conditions.

http://www.ninjatrader-support.com/HelpGuideV6/OrderDisplay.html

[drmartell]

Thanks Bertrand,

The start/stop button looks like what I need. I know that NT is not really designed to mix discretionary and automated order management; I plan to let you know how it goes

[drmartell]

OK I can see a problem already. I would like the Strategy to place the orders and then I can manage them manually on the DOM. The problem is that when I turn off the Strategy, all the exit orders disappear.

So now I am thinking I need to build something into the Strategy so that it either reads a file, or (preferably?) reads a global variable of some type - either of which I could manipulate with a second program to toggle on/off the placement of orders by the strategy.

Does this approach make sense? Has anyone else done similar?

Thanks

[drmartell]

OK I just found the checkbox for cancel strategy orders on Strategy termination. It is now unchecked, let me work with that. . .

[eDanny]

The Strategy can enter the position and let your ATM (DOM) handle the exit. There are many threads about this. Once you are flat again your strategy is again looking for entries.

[drmartell]

Thanks eDanny,

I actually didn't realize that I can use a Strategy to call an ATM - that will help with the manual order management; however my primary concern remains that I don't want the Strategy looking for an entry "once I'm flat". I only want it looking for an entry when I manually tell it to.

If you know of other threads that may relate to this specifically, I'd love your help in finding them, I didn't have much luck doing so myself.

The start/stop button may be the solution, but I haven't had enough time to test it yet. It seems that the settings in NT for initiating a new order are either
- immediately submit historical orders
OR
- wait until flat

I don't think I want either of those, I want to be able to click a button and have the strategy assume it is flat and start looking from that point. The entry will usually come moments later and on the same bar that I hit Start.

[NinjaTrader_Bertrand]

Using the start / stop button would also assume you could code out your discretionary entry point into a NinjaScript strategy.

From what I understand I think you would do best with a preprogrammed ATM strategy for your exits started from the ChartTrader panel upon receiving confirmation of your entry point.

[BillCh]

I find the idea from drmartell quite intriguing as well as a basic feature which should be implemented in NT.

Maybe there is already a way to tell a running NT script to read a varaible or a file, so that in another C# application or so one could code a simple application. Like Trade = ON/OFF or EntriesAllowed (True/False) or ExitsAllowed (True/False).

So in the NT script one would just have to code
if (EntryCriteriaXY == True && EntriesAllowed) enter a position

Anyone done this? Thanks for any advice!

[NinjaTrader_Bertrand]

Hi BillCh, unfortunately I'm not aware of such a custom solution, other than preparing an ATM for automatic trailing exits. Thanks for the input and taking the time to voice your thoughts!