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Autotrading Program + ATM Strategy Exit?

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    Autotrading Program + ATM Strategy Exit?

    I have a blackbox autotrading program that has solid entries but the exits suck. I'd prefer to take 1 or 2 points on each entry and get out of there, rather than wait for the entry to be stopped out while it looks for the big score as often happens.

    If I run my auto trading system on one chart and on a separate chart of same instrument run an ATM exit strategy that looks for a 1 pt scalp, will each of my entries, assuming they hit the one point, be closed successfully by the ATM? I gather the blackbox stategy will continue to run its own stops and limit closes as it seeks to close out the order, but thats something I can deal with closing manually myself. Bottom line, can I run entries with one strategy while attempting to have better control over my exits with another strategy?

    #2
    mrkicks, does the autotrading program call ATM templates for exit management in its code or would it rely on the regular NinjaScript methods to manage positions?
    BertrandNinjaTrader Customer Service

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      #3
      You can choose between PerEntryExeecution and ByStrategyPosition. the default is the first one. I guess ByStrategyPosition means follow an ATM strategy??

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        #4
        No that would not be the case - it cannot follow / use an ATM unless explicitly coded so, see for example the SampleAtmStrategy we ship with NT.

        With the setting you mentioned you can decide whether stops and targets are issued on a execution or position basis (relevant for realtime trading only).

        ByStrategyPosition - When this is selected, only one stop loss, trail stop and/or profit target order is submitted. As entry executions come in, the order size is amended. The downside of this approach is that if you have partial fills, the orders are re-inserted into the exchange order queue. The upside is that if you broker charges you a per order commission (not per lot), you will not incur additional commission expenses.

        PerEntryExecution - When this is selected, a stop loss, trail stop and/or profit target order is submitted for each partial fill received. The downside is if your broker charges commission per order, you can incur very expensive commission costs if you receive partial fills. The upside is that orders are submitted as soon as possible giving you the advantage of getting into the order queue immediately.
        BertrandNinjaTrader Customer Service

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