Request - ATM Hard Stop

[tshirtdeal]

Was wondering if NT will ever develop an ATM for a hard stop... Seems it would be simple enough and I'm sure useful for many.

It would be of great help for me that once I enter a trade I could have a hard stop automatically set once the order is filled. It eliminates the hassles of having to see where the market order is filled at and then add/subtract to see where my stop loss needs to be set. I use very tight stops and on a few occasions trades have reversed very quick on me before I could get my stop in leaving me to quickly put in a market order manually and causing me 3 times the loss.

Seems it would be a simple feature considering the profit loss calculations are already in NT and a stop loss could just be set to when that hits the figure the user sets for the hard stop...

Any plans for something like this?

Thanks,
R.T.

[NinjaTrader_Chip]

Hello R.T.

Thank you for your post.

When you set up a custom ATM strategy you have to define a stop loss level. Defined in ticks it will be automatically calculated based on your average entry price.

Check out the following example from the Help Guide & let me know if this is not what you are referring to:

http://www.ninjatrader.com/support/helpGuides/nt7/index.html?tutorial_atm_strategy_example_.htm

Thank you,

[tshirtdeal]

Hi Chip,

Thanks for the reply... I went over this a while back with an NT customer service and it seemed the ATM could not create what I was trying to do... Perhaps he misunderstood though so let me try and ask again.

Is it possible to create an ATM stop loss that once my order is filled will instantly add a stop a set $ figure away from the average entry price such as a 100$ hard stop?

Last time it seemed I still had to enter a figure each time into the ATM.

Thanks,
R.T.

[NinjaTrader_Chip]

Hello R.T.

For this you could calculate the tick value for the instrument you are trading and then set that number of ticks equivalent to $100 (in your example).

However, currently you would not be able to set the stop equivalent to an absolute dollar amount directly through the ATM Strategy. It would be possible in NinjaScript but that would require custom programming.

[tshirtdeal]

Hi Chip,

So you are saying if I set up an ATM with a stop loss of 10,000 ticks (for stocks) it will place the stop loss for a 100$ loss from my entry price?

Thanks,
R.T.

[NinjaTrader_Chip]

Hello

You would also want to consider in your calculation how many shares you are trading.

[tshirtdeal]

Thanks Chip,

I use Chart Trader so once I enter the number of shares into the chart trader box the ATM will automatically figure that out then correct?

So if I am buying 2000 shares of a 12 dollar stock with the ATM set for 10,000 tick value it will place my stop at a 100$ loss from my average entry price?

Thanks,
R.T.

[NinjaTrader_Chip]

Hello R.T.

The tick value will remain consistent for equities trading in .01 increments. Therefore the share price would not be relevant.

You would need to adjust your stop placement based on the number of shares you are trading (that would equal $100 loss if that was your limit).

[tshirtdeal]

Hi Chip,

The problem is that the stop gets set 100$ away from the entry price, so if I enter at say 115.00 the stop gets placed at 15.00...

I am looking for a way for the stop to be placed at a 100$ loss from the entry price, not 100$ away from the entry price... Not sure what I am doing wrong or if what I want is possible... I feel it is not possible though....

[NinjaTrader_Brett]

Hello,

This is possible.

Since you are still running into issue, please send a note to support at ninjatrader dot com and reference this forum post and put ATTN: Brett in the subject line and include your phone number so that I can call you and discuss this with you.

I look forward to assisting you further.