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Trail Stops Question

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    Trail Stops Question

    I'm a newbie to the ATM strategies. I have a couple of questions: 1) I think I know the answer to this one. I like to trail stops "x" ticks above the highs for short positions and "x" ticks below the lows for long positions. Can NT do this? If not, is it a feature that can be implemented in NT7? 2) My strategy is one where I enter a position with 4 contracts, set up an initial stop for all 4 contracts which is 6 ticks away from price action. I then scale out of my position by setting profit targets. My question is this. As I scale out of positions is the number of contracts on the initial stop reduced? For example, if I start out with 4 contracts and the profit target on my first contract is hit, is the number of contracts on the initial stop reduced to 3?

    Regards
    Chuck

    #2
    Hello,

    Thank you for your forum post.

    1) This is possible with NinjaTrader however it is not possible with ATM Strategies. You would have to use a full blown ninjascript strategy to do this as the ATM strategies are independent of charts and therefor cannot be set to follow behind the close of a bar.

    ATM Strategies:
    http://www.ninjatrader-support.com/H...verview13.html

    2) This is correct. ATM Strategies handles this for you so that you dont need to worry about the management of orders. \

    Let me know if I can be of further assistance.
    BrettNinjaTrader Product Management

    Comment


      #3
      Originally posted by NinjaTrader_Brett View Post
      Hello,

      Thank you for your forum post.

      1) This is possible with NinjaTrader however it is not possible with ATM Strategies. You would have to use a full blown ninjascript strategy to do this as the ATM strategies are independent of charts and therefor cannot be set to follow behind the close of a bar.

      ATM Strategies:
      http://www.ninjatrader-support.com/H...verview13.html

      2) This is correct. ATM Strategies handles this for you so that you dont need to worry about the management of orders. \

      Let me know if I can be of further assistance.
      Thanks Brett. Just one followup question. I'm assuming that it is possible to set up an OCO with the above strategy such that if my trailing stop is taken out before all my profit targets are hit, that the remaining profit target orders are cancelled? For example, let's say I am trading two contracts with two different profit targets. The first profit target is hit but then the market turns around and takes out my protective stop. What I would like to see is that the remaining profit target order is canceled so I'm flat. Thanks for all your help

      Chuck

      Comment


        #4
        Yes this is done automaticaly by you. What I would suggest is connecting to the simulated data feed in NinjaTrader by going to Control Center->File->Connect->Simulted Data Feed. This will allow you to open up a superDOM and test these strategies and see what happens. That you you can have confidence in your trading and how your trading software will run. I would recommend setting up profit targets and your trailing stop loss and testing your stratagies.
        BrettNinjaTrader Product Management

        Comment


          #5
          Originally posted by NinjaTrader_Brett View Post
          Yes this is done automaticaly by you. What I would suggest is connecting to the simulated data feed in NinjaTrader by going to Control Center->File->Connect->Simulted Data Feed. This will allow you to open up a superDOM and test these strategies and see what happens. That you you can have confidence in your trading and how your trading software will run. I would recommend setting up profit targets and your trailing stop loss and testing your stratagies.
          Hello Brett. One last question. Are the profit targets still limited to only three? If so, I'd like to suggest that more are incorporated into the next release of NT.

          Regards
          Chuck

          Comment


            #6
            Profit targets are limited to 3. I will send this forum post to our development team for consideration in a future release of NinjaTrader.
            BrettNinjaTrader Product Management

            Comment


              #7
              how would someone setup a trailing stop without using atm strategy. seems with atm you have to place the order and an initial stop and loss. i prefer to scale in and find it cumbersome to have to change the strategy for subsequent entries in order to avoid them becomming one at the first stop strategy initializing once the condition is hit.

              Comment


                #8
                Hello,

                I think what you looking for is the ATM Strategy Selection mode. If you right click on the superDOM and chartTrader and select properties you will have the option to change ATMStrategySelectionMode. Change this to KeepSelectedATMStrategyOnOrderSubmission. This will automatically select the ATM template for you so you dont have to select this yourself each time.

                ATM Strategy selection mode:
                http://www.ninjatrader-support.com/H...ategyMode.html

                Let me know if I can be of further assistance.
                BrettNinjaTrader Product Management

                Comment

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