ATM custom stops

[Mike_32]

Can you tell me what to put in the ATM stops to do this.

I open 2 contracts, I want it to put a stop loss for 2 contracts 4 ticks away.
And a profit target for 1 contract 4 ticks away.
Then if the profit target is hit I want it to move the stop loss 3 ticks from break even.
I have tried to do this and it doesn't work.

[BigAAPL]

Can you tell me what to put in the ATM stops to do this.

I open 2 contracts, I want it to put a stop loss for 2 contracts 4 ticks away.
And a profit target for 1 contract 4 ticks away.
Then if the profit target is hit I want it to move the stop loss 3 ticks from break even.
I have tried to do this and it doesn't work.

You don't say what the PT is for the remaining contract or mention which contract you wish to move to BE+3.

[Mike_32]

No profit target for remaining contract its a runner left open or hits stop loss 3 ticks from break even.

[Mike_32]

Ok I do this manually I am trying to use time saving with these ATM thingies.
Basically open 2 with a 4 tick SL, close 1 contract 4 ticks in profit and move the stop loss for the remaining contract 3 ticks from BE.
And the remaining contract either goes more into profit or hits the SL which is 3 ticks away from BE.
I change these figures from time to time is why I want to know where to put it.

[NinjaTrader_Jason]

Hello Mike_32,

Please setup your ATM strategy as follows:

Target 1
Order quantity: 1
Stop loss: 4
Profit target: 4

Target 2
Order quantity: 1
Stop loss: 4
Profit target: -

Stop strategy
Auto Breakeven
Profit trigger: 4
Plus: 3

[Mike_32]

Ok thanks I forgot about target 1 2 3 I am tired

[BigAAPL]

What Jason said. However, assuming you mean 3 ticks ABOVE break even, I would strongly advise against going BE+3 on the remaining contract once it goes 4 ticks in profit as you will most surely get hit. A better strategy might be to wait 6 ticks on the remaining contract and set a stop to BE+1 so you can give it a chance to run. You've already booked profit on the first contract, and you can manually adjust your remaining stop as the trade develops.

[Mike_32]

This was just an example of ticks because I am tired and forgot about target 1 2 3 4 and couldn't get the atm thing to work.
I use T4 as well and have keyboard shortcuts all setup to put my stops and limits so when I use NT sometimes I get confused.
What I mean is, how ever many contracts 3 8 9 15.
I take 4 ticks profit, and use 3 of those ticks to widen the stop on the runner(s).
My trading methods get me out for the next profit target.
I do this with sometimes 18 contracts in different configs.
The 1 tick was to allow for commission because if you set it to exact break even you still are not breaking even due to commission.
Long term profits are only obtained by minimizing losses.
I base this on volatility and volume at the time, I have no preset 4 ticks 3 ticks thing it was just an example.
Thanks for your help buddy