Managing multiple entries

[Yaron]

Hi,

I have a problem.
If I place 3 different orders to buy 1 contract each time and at different price levels NT7 shows me an average position price of all the three and it is impossible for me to know per entry how it is doing. Is there a way to configure NT7 so it would show me each entry on the chart instead of the average position price?

In situations like I described the average position price (brown marker on the chart) is not only useless for me but dangerous - I already lost money because it showed me that I was in profit while in reality I was in loss. I cannot even set the stop orders properly for break even because I don't know which contract is still in play.

By the way, this is true when I use the same ATM strategy, different strategies or no strategy at all (<none>).

Thanks.
Yaron

P.S
I am a paying customer.

[NinjaTrader_Jason]

Hello Yaron,

When you get into a position using multiple entry orders that fill at different prices, NinjaTrader will report your position using the average entry price.

However I see you are using ATM strategies. You can use the 'Display Selected ATM Strategy Only' for 'ATM strategy selection mode' and subsequently use a chart (with ChartTrader enabled) for each trade. That way you can have multiple seperate positions and ATM orders will not be combined.

Please right click in ChartTrader and select 'ChartTrader Properties'. Set 'ATM strategy selection mode' to 'Display Selected ATM Strategy Only' and click OK. Do this for each ChartTrader you will use. More information can be found at the link below.

http://www.ninjatrader.com/support/helpGuides/nt7/atm_strategy_selection_mode.htm

Subsequently submit each entry order in a different ChartTrader to manage each trade seperately.

[Yaron]

Hello Jason,

Thanks for the quick reply. However, I find this solution lacking and quite bizarre honestly.
Is this a limitation from the brokers or is this a missing feature from NT7?

Why can't I see the different entries on a single chart window? Using your solution, when I pyramid trades, I will need 3 to 4 charts open. I can barely manage 2 different time frames for the same entry.
I can think of at least two good solutions for this issue and I will detail if you wish.

Thanks.

[NinjaTrader_Jason]

Hello Yaron,

Unfortunately this is how NinjaTrader functions. If you make use of one entry window (ChartTrader) and you get into a position using different entry prices, your position will be reported as average entry price.

The only workaround would be using 'Display Selected ATM Strategy Only' for 'ATM strategy selection mode' in multiple entry windows.

Yes, you can forward your suggested solutions and I will forward it to our development team to put it on the list of possible future enhancements.

[Yaron]

In think that if we are serious about this issue, it should NOT require changes to the way NT7 works in the background - I mean no core changes to the system. It must only change the way the entries are displayed - an exclusive GUI effort.

This is what I believe will be a great solution:
1. Keep the current mode of average position price.
2. Add a second mode called "per entry price". In this state, NT7 will show an entry marker, similar to the brown average position price marker, but per entry. Each entry will have it's own entry marker, it's own stop and targets and ATM strategy (if used). If there are 3 active entries for example, each time the user left clicks an entry marker (the brown marker), the opacity of all other entries goes to 25% together with their stops and targets and only the selected entry remains at full opacity (together with it's own stops and targets). It's a user friendly visual solution. Additionally, on the left side of each marker, place a "e1", "e2", "e3", "eX" numbering the entries. This is important because the trader can know at a glance which stops and targets belongs to what entry.
Each entry marker shows it's own state of profit and loss.

On the right side of the screen - on the "chart trader" section, the P&L will still show the average position price, no matter what mode the trader is using.

I am attaching a mockup screenshot so you can see what I am talking about. In the screenshot, "entry 1" is active, meaning that you can move it's stop and target, while "entry 2" is not active (25% opacity).

If you are serious about this solution, I am willing to be your QA man, I will do it happily. Tell me what you think.

[NinjaTrader_Brett]

Thanks for taking the time to write this up.

I will send it into development and get a suggestion ID for you.

Wish you the best.

-Brett

[Yaron]

My pleasure.

[NinjaTrader_Brett]

This is added to our suggestion database under number 1773.

Thanks and have a great rest of the day.

-Brett

[Yaron]

Hi,

Thanks for the Suggestion ID number.
Is there any way for me to view this database? or to track the status of this suggestion?

Thanks.

[NinjaTrader_Brett]

No problem, We keep this list internal only.

-Brett