reversing ATM postion

[xgesxg]

Hi,
I'd like to reverse my position established via an ATM strategy as follows:

assuming SHORT 4 contracts at 934 with 2 targets and 1 stop via ATM; before eitehr the short target or stop is hit, price moved up to 936
now I'd like to reverse this to LONG at 936 with the same ATM strategy(2 targets and 1 stop for LONG).

How do i do this?

thanks,
xg

[NinjaTrader_Kyle]

Hello xgesxg,

Thank you for your post.

This is possible, but because neither target is hit when the reversal takes place, custom programming would be required to automate this process. Alternatively, this could be accomplished manually with use of the Reverse button on your order entry window.

Please let me know if you have any additional questions.

[xgesxg]

Hello xgesxg,

Thank you for your post.

This is possible, but because neither target is hit when the reversal takes place, custom programming would be required to automate this process. Alternatively, this could be accomplished manually with use of the Reverse button on your order entry window.

Please let me know if you have any additional questions.

Hi Kyle,

Thanks for the quick reply.
Can I modify the existing BUY STOP by increasing the size to 2x and at a specific price, eg 936 so that when hit it will close my previous SHORT and then initiate a LONG with the active ATM orders attached?

thanks,
xg

[NinjaTrader_Kyle]

Hello xg,

Thank you for your reply.

Yes, this is possible assuming that the reverse was attached to the strategy prior to order submission.

[xgesxg]

Hello xg,

Thank you for your reply.

Yes, this is possible assuming that the reverse was attached to the strategy prior to order submission.

Hi Kyle,

What do you mean by "reverse was attached to the strategy"? I would have the same ATM strategy active when modifying the STOP - would that be the same as what you wrote?

thanks,
xg

[NinjaTrader_Kyle]

Hi xg,

Thank you for your reply. Sorry for the confusion.

I had meant that the reverse at stop / reverse at target event would need to be added to the ATM strategy before submitting the strategy. This would be accomplished by checking the box next to the appropriate option when configuring the strategy. After the strategy is submitted and the position is opened, order modification would not disrupt the reverse event. The strategy would continue to function as it was configured, reversals and all.

[xgesxg]

Hi xg,

Thank you for your reply. Sorry for the confusion.

I had meant that the reverse at stop / reverse at target event would need to be added to the ATM strategy before submitting the strategy. This would be accomplished by checking the box next to the appropriate option when configuring the strategy. After the strategy is submitted and the position is opened, order modification would not disrupt the reverse event. The strategy would continue to function as it was configured, reversals and all.

Hi Kyle,

I understand what you meant now. Thanks for the clarification.

xg

[PeterM]

Question on auto reverse.

So if I enable the automatic "reverse at target" function as an ATM strategy, will my position reverse again and again, indefinitely, EVERY time I hit a target? What I would like to do is to reverse once when my target is hit but NOT reverse again when my new target on the reverse trade is hit.

[NinjaTrader_Kyle]

Hello PeterM,

Thank you for your post.

The Reverse at Target and Reverse at Stop will fire only a single time.

[PeterM]

Auto Reverse

To NinjaTrader_Kyle:

Thanks for the quick response.

I must missing something, because my "Reverse at Target" strategy just now set itself up to fire off for a SECOND reversal. The 1st step went fine. I made an entry short with 1 contract. The target automatically set up to buy 2 contacts, as expected, in order to effect the reversal. I hit my target and was reversed long one target, as also expected. But my automatically entered target on the reversal trade was also for 2 contacts, this time to go short. I couldn't change the quantity to 1. Ultimately I changed the ATM strategy to 'None" and added one buy stop to the two sell orders for a net of one sell order, but this ended up being quite messy.

How should I handle this so that I'm not forced to reverse twice?

[NinjaTrader_Kyle]

Hi PeterM,

Thank you for your reply.

Can you provide me with the exact parameters for the strategy?

[PeterM]

Auto Reverse

Parameters are:
"1 Target" box checked
Qty: 1
Stp loss: 6
Profit Trgt: 3
"Rev at Target" box checked
"Rev at Stop" and "Target chase" boxes unchecked


And oops, maybe this messed things up: I had an inconsistent, leftover "Stop Strategy" set for a stop loss of 8t and a move to b/e at 4t of profit. That obviously should have been set to "None," although I still don't see why that should have set me up for a second reversal trade, if the reversal feature is designed to trigger only once.

[NinjaTrader_Kyle]

Hi PeterM,

Thank you for your reply.

It seems that I was incorrect. Upon reversal of a position, the reverse at target feature will continue to fire as the next target is hit. I'm very sorry for the confusion.

I will forward a request to my development team for the addition of a 'single reverse at target/stop' feature.

[PeterM]

Auto Reverse

Thanks yet again, Kyle.

The auto reverse feature is so useful to me, and the trade happens so quickly in actual practice, that I intend still to use it, even though I'll then need to deal with the problem of taking manual steps to avoid a second reversal trade. (I definitely don't want to use the "Reverse" button on the DOM in lieu of the auto reverse feature.)

To tide me over until an automatic, single reverse at target (and/or stop) feature is developed, I'd be appreciative of any suggestions you can offer as how best to implement a manual way out of the potential, second reversal trade at the new, reset target after the trade first reverses when it hits its initial target.

[NinjaTrader_Kyle]

Hi Peter,

Thank you for your reply.

Unfortunately, the only way to accomplish this would be to place an exit order manually. However, with the current settings of your ATM strategy placing the stop and profit target in such a narrow range, this may be somewhat difficult to place before the reversal triggers again.