Trying to work out how to achieve this!

[reggiedonald]

Hey everyone,

I am trying to work out how to setup an ATM strat on my DOM ladder,

Basically I am trading forex with Ninja and MBT Trading, only demo at present, and want to enter a trade with the below pre-set on my ATM:

Trade enter long, initial 15 pip stop
+ 7 pips profit Stop automatically moves to +2 pips profit
+ 12 pips profit a Trailing stop of 5 pips is triggered

Can someone with experience on setting this up give me some help please! greatly appreciated

[NinjaTrader_Kyle]

Hi reggiedonald,

Thanks for your post.

Based on that description, the settings you would need to use for this strategy are those shown in the attached image.

[reggiedonald]

Awesome thanks for that.

One other thing - Is it true that using forex we cannot use a static dom ladder?

I find it very difficult to place orders with the dynamic one as the price just keeps jumping all over the place and I end up making mistakes. I need the ladder to be still..

any other ideas? cheers

[NinjaTrader_Kyle]

Hi reggiedonald,

Unfortunately, it's not possible to use the Static version of the SuperDOM when trading currency pairs. That said, you can freeze the action in the Dynamic SuperDOM by clicking the "HOLD' button in the upper left corner - this won't make the dynamic DOM operate just as the static version does, but it should be of some help.

[reggiedonald]

Aha yeah that works, least it freezes price so I can place the order with ease off the ladder.

Thanks

[reggiedonald]

Hi again, I am changing my ATM slightly, can you check the attached image and tell me if these settings are correct for the following please:

Initial STOP LOSS 10 pips
+ 5 Pips STOP moves to +1 pip
+ 10 Pips profit TRAILING STOP triggers of -5 pips

My data is setup for 'tenth pip' so please let me know if they are correct.

Thanks again

[NinjaTrader_Kyle]

Hi reggiedonald,

You'll not need to make any changes based on the quote currencies in setting.

For example, this means that the stop loss setting should be 10 rather than 100.

[reggiedonald]

Hi, Sorry I am confused slightly!

I have done that - In my data I set up pips for 'tenth pip' as that's what MB TRADING give u in data. So I have set my ATM strategy (in the attached on previous reply) based on tenth pip and for these following values:

Initial STOP LOSS 10 pips
+ 5 Pips STOP moves to +1 pip
+ 10 Pips profit TRAILING STOP triggers of -5 pips

I just wanted to know if they are correct in general - and are correct based on tenth pip data.

Thanks again! u guys are fast at responding! good work!

[NinjaTrader_Kyle]

Hi reggiedonald,

You do not need to set the ATM strategy up around the tenth-pip setting.

Your settings, therefore, would not be
Stop loss: 100 but rather Stop Loss: 10. (there's no need to multiply by 10 is what I'm trying to say)

[reggiedonald]

Hi reggiedonald,

You do not need to set the ATM strategy up around the tenth-pip setting.

Your settings, therefore, would not be
Stop loss: 100 but rather Stop Loss: 10. (there's no need to multiply by 10 is what I'm trying to say)

I'm sorry but that does not work Kyle, please see the attached - this is with an ATM stop loss of 25 pips within tenth pip data. The pale green was my entry - the red is the SL.

As you can see that is using 25 on the SL as the tenth value - so it's basically only 2.5 pips away not 25.

Thanks

[NinjaTrader_Kyle]

reggiedonald,

I see - your other settings are correct then. One easier way to look at this in the future, as you're using the DOM, is number of price rows rather than number of ticks/pips.