auto trail SL..confusion

[shooly76]

I have searched and looked at some examples provided, but cant really get the answer Im looking for. I would like to use an auto trail SL (ATM strategy)..however the example states move back 6 ticks, then move forward 2 ticks...or something similar..to me this is confusing..

here is the thing..I will be away from my computer after order entry and need an auto trail SL because I will not be able to manually move the chart trader SL..

I will be trading 60 min charts..w chart trader for order entry and exit..so I all I need to know is how do I set an auto trail SL for 20 ticks? IOW...I want the SL to move 20 ticks in the direction of price for every 20 ticks of unrealized profit.

so basically.. if my initial order entry SL is 40 ticks, and price moves in my favor by 20 ticks, I would want the first move of auto trail SL to be 20 ticks (SL would now be 20 ticks). if price moves another 20 ticks in my favor, then I want the auto trail SL to move another 20 ticks ( SL would now be break even)...and so forth and so on..

all I see on ATM auto trail box is 1 step, 2 step, 3 step..this is what is confusing me.

Can someone please provide a template example for a 20 tick auto trail SL?

also, do I still need to place SL in my initial order entry on chart trader..if using auto trail SL?

any help much appreciated...sorry for seeming sooo confused on what I thought would be a simple matter for me to grasp..

[NinjaTrader_Kyle]

Hello,

Thank you for your post.

We officially recommend that you never leave a PC unattended when trading live. If anything out of the ordinary was to occur, you need to be available to take immediate action on the account.

With that said I can help you to configure your auto trail strategy however I need you to tell me where the stop is originally placed. (how many ticks behind the entry price)

[shooly76]

thanks for the advice..only itraday scalp traded in the past so I was able to sit in front of computer until position closed. but I would have to sit at home all day to watch my open positions on a 60 min chart? I have an acct w FXCM, I thought that once the order was placed and filled, even if the computer shuts down or internet service interrupted, that the open position would not change. Am I wrong to think this?

initial stop will be 40 pips from entry price

[NinjaTrader_Kyle]

Hello,

Orders would remain on FXCM server however stop strategies are signals sent from NinjaTrader itself. If a disconnection occurs, the stop strategy is lost. This is among the reasons we recommend that you never leave trades unattended.

Your strategy can be accomplished with a single step auto-trail strategy. The settings which you would need to use are as follows:

• Stop Loss: 40
• Frequency: 20
• Profit Trigger: 20

[shooly76]

thank you..now I totally get it. pretty much what I was thinking.. but didnt know what went where exactly. makes perfect sense now..

as for a possible disconnection problems, can I remotely monitor my trades w a smart phone or tablet?

trading a 60 min chart, I will not be able to sit in front of comp all day.

[NinjaTrader_Kyle]

Hello,

No mobile application is available at this time though that is something development is considering adding support for in the future. As it stands you would need to look in to a PC-to-PC remote desktop connection if you intend to monitor your trades remotely.

[shooly76]

thanks

..or I could get a tablet PC that meets minimum requirements to run NT7? that way I would be mobile..

but I could only use 1 PC for any given open position, correct? either the tablet, or the home PC..

sorry for getting off track here.. not trying to be confusing..

[NinjaTrader_Kyle]

Hello,

Your NinjaTrader license could be used on multiple PC's however you would not be permitted to run the NinjaTrader on the two PC's at the same time with a single key.