Adjust Profit Target Automatically

[phineas]

Is it possible using ATM strategies (or something else), to adjust Profit target automatically, based on a predetermined unrealized loss? Similar to automatically moving a Stop loss to Break even, based on a predetermined unrealized profit.

Ex.
Strategy created and a long position is entered with a 2 pt stop loss and 1 pt profit target. If price moves down from Entry price by 1 pt, automatically move the profit target to Break Even.

Thanks,
Phineas

[NinjaTrader_Ray]

Unfortunately this is not supported via an ATM strategy.

[phineas]

Would this be supported using NinjaScript to create an automated custom strategy?

[NinjaTrader_JoshP]

Yup it is. Please take a look at these reference samples. They are a bit different from what you want, but they will give you a jist of how to approach the problem.

http://www.ninjatrader-support.com/vb/showthread.php?t=3917

http://www.ninjatrader-support.com/vb/showthread.php?t=4084

[phineas]

Thanks Josh. I'll take a look at these and at Ninjascript in general.
Phineas

[phineas]

One more question before I start out to learn NinjaScript.

As I explained earlier, I want to be able to manage profit targets based on price movement, once the trade is opened. Josh, confirmed that I could accomplish that with NinjaScript.

Since I don't want to automate my entries, I use a discretionary method and would want to enter them manually when appropriate. Can I enter the market manually (DOM) and then run a NinjaScript application to manage my profit targets and Stop Loss. (I presume I would still enter Profit target and Stop Loss at time of manual trade entry)

Phineas

[NinjaTrader_Ray]

Unfortunately it is not possible to run a script to manage the exits of entries made manually such as in the SuperDOM.

[phineas]

Since I just want to enter Trades at market price, I don't really have to use the DOM. I could just hit a button or mouse click.

Is it possible to have such a button press or mouse click be input to the NinjaScript, so that the position can them be auto managed by the script.

Phineas

[NinjaTrader_Ray]

Yes this is possible through the fact that NinjaScript is C# and anything can be done. However, providing support on how to do this is outside of what we officially provide support for. If you are not an experienced programmer, you could consider contacting a consultant to work with you on this.

http://www.ninjatrader.com/webnew/partners_onlinetrading_NinjaScript.htm

[phineas]

Ray,
Do you have experience with anyone that you could recommend.
Thanks,
Phineas

[NinjaTrader_Ray]

Anyone listed in the link I provided could be contacted.

Ultimately, what you will want to ask them is if they could -

- Create a NinjaScript strategy that spawns a windows form that has buy/sell buttons that invoke a NinjaScript Enter() method
- Automates the exit of the open position created by the buttons