confusion on how to partially exit a position with ATM and Trail

[Turtle Trader]

Hello,

I'm not clear on how to partially exit a position and add a trailing stop when the first target is hit.

Say I buy 10 lots at 100.

I want to exit at 105 with 4 lots, move the rest to break even, then trail to exit the rest. Perhaps I might want to trail with two exits at different levels.

I'm not clear with the instruction how to set that up.

More questions...

Does a Custom Stop override the Stop Loss on the ATM Strategy?

How does the Custom Stop interact with multiple (profit) Targets?

Thanks....

[NinjaTrader_RyanO]

Hello Turtle Trader,

Thank you for your post.

If you want to exit positions at various levels and adjust your stop losses as well you will want to create a multi-target strategy and have a custom stop strategy on the last (or two) targets so that when the first target is hit the remaining stops move to breakeven, and then trail.

If you provide me with a more detailed description of what kind of ATM strategy that you want to create I will be glad to provide you with screenshots.

And to answer your last question a custom stop strategy will modify your original stop loss order, so in a sense it will override your original stop loss parameters.

[Turtle Trader]

theoretical strategy

OK...how about this....just for an example, in theory

Enter with 10 lots at 100

at 105 sell 5 lots and move stop to 100

then .... it trails a stop to sell the remaining 5 logs.....

at 106 it moves the stop to 105
at 107 it moves the stop to 106
at 108 it moves the stop to 107

No need for a second target because the trailing stop would provide the exit.

[NinjaTrader_RyanO]

Hi Turtle Trader,

Please see the screenshots that I have attached. Also, since you did not specify the initial stop loss I set that to 10.

[Turtle Trader]

another

Thank you...that helps...

Now...say I want to start trailing at profit 7, and increment the stop 2 ticks every 3 ticks...

Is this what it would look like on the auto trail?

Profit Trigger 7
Frequency 3
Stop Loss 2

Would that then:
at 7 profit, move the stop to 5,
at 10 profit, move the stop to 7,
at 13 profit, move the stop to 9

Is that the idea?

[NinjaTrader_RyanO]

Hi,

Your stop strategy would do as you described. The profit target will move the stop loss when it reaches that value to the stop loss value, which is an offset value behind the profit target.

And the frequency is how many ticks it moves before readjusting.

So, what you described would match the example you provided.

Please let me know if you have any further questions.