Is it possible to set a trailing stop only when a target is reached?

[adamus]

I've got an ATM strategy to place my target limit orders to exit my position but often the market goes straight through the target without looking back and I could have easily made another 10, 20 or more points by trailing a tight stop.

Can I set an ATM strategy to start trailing a stop at the target instead of putting in a limit order?

[NinjaTrader_TylerG]

Hello adamus,

Thank you for your post.

To add a trailing stop to your ATM strategy, set your ATM strategy parameters, and click the Stop strategy drop down menu. Select "<Custom>". The Stop Strategy window will open.

In the Stop Strategy window, set your parameters in the Auto trail section:

* The "Profit trigger" value represents the number of ticks in profit from the price you enter the market at when your Auto trail strategy is enabled.
* The "Stop loss" value is the number of ticks below the profit trigger you would like your stop loss moved to.
* The "Frequency" value is how many additional ticks in profit beyond the profit trigger before the Auto trail strategy triggers again, and moves your stop. A value of "1" means with each tick in profit, the auto trail will trigger again. Using a very large value, like "9999" will ensure this only triggers once.

Note that with a multi-target ATM strategy you will need to set a stop strategy for each target.

Please let me know if I can further assist you.

[adamus]

Fantatstic. I shall try that out immediately. Thanks.

[adamus]

I experimented with this trailing stop today and on the short side, it looks like the ATM strategy is taking the bid as the reference point for the distance to the buy stop. Since the bid / ask spread is always fluctuating, that means my stop at the ask is affected by this random factor.

Is what I'm seeing the way it is meant to work?

[NinjaTrader_TylerG]

Hello adamus,

So that I can test this on my end, which instruments are you using?

[adamus]

I was checking it out on forex - EUR/USD, USD/JPY, EUR/GBP on IQFeed.

The main issue is that I'm trying to use it to manage a tight stop, but the spread itself fluctuates between 1.5 and 3 points.

[NinjaTrader_TylerG]

Hello adamus,

You are correct - this is the behavior you should expect. This is actually how trailing stops and ATM strategies will work with all instruments, however, with most stocks and futures, the bid/ask spread is only one tick.

If you are long, your trailing stop will not be triggered until the bid price reaches or surpasses the price of your profit trigger. Similarly, if you have gone short, you must wait for the ask price to reach your profit trigger for the trailing stop to take effect.

Please let me know if I can be of further assistance.

[adamus]

OK thanks for the low-down.

With the resolution of market movement that I'm talking about, tick by tick basically, this means that I have to open up the ATM strategy and edit it to change the stop trail distance depending whether it's going to be long or short.

I suppose I could save one strat for long trades and one strat for short trades and just select the strat before I enter.

What I also find lacking is some sort of visual representation of where the target is before it gets hit. I love the way simple limit orders are represented on the chart, it would be good to be able to hook up the same kind of visuals.

[NinjaTrader_TylerG]

Hello adamus,

Do you have Chart Trader enabled on your chart? If you do, you should be able to see all placed orders, including your stop loss and profit target orders for ATM strategies.

To enable Chart Trader, click the 5th button from the right on the chart toolbar, or right click in your chart's background and select "Properties". In the Properties window, change "Show chart trader" to "True".

[adamus]

Yes I do - what I mean is that the trailing stop only appears when the target is hit - so there is no visual clue where the target is before it's hit.

[NinjaTrader_TylerG]

Hello adamus,

With Chart Trader enabled you will be able to see your Stop Loss and Profit Target orders, but since the Profit Trigger value (which enables the trailing stop) for your Auto Trail stop strategy is not an order, it will not be displayed on your chart or in the SuperDOM.

If you would like, I could submit this as a feature request to our development team to consider for inclusion in future releases of NinjaTrader.

[adamus]

If you would like, I could submit this as a feature request to our development team to consider for inclusion in future releases of NinjaTrader.

That would be great.

Especially if you then had the ability to move the trigger location up or down after the entry but before it's hit.

Thanks.

Do you guys have a list of the NT8 enhancements that are already in the mix?

[NinjaTrader_TylerG]

Hello adamus,

I have submitted your feature request:

To have Profit Trigger(s) for Stop Strategies displayed on the SuperDOM price ladder, and on charts with Chart Trader enabled.

Our development team will consider this feature request for inclusion in future releases of NinjaTrader. Thank you for your suggestion!

[peterevanson]

Is it possible to set a trailing stop only when a target is reached?

Hey,
I am new here and gaining the trading knowledge. You posted a good thread which helps me a lot to know the bit of things. Thanks for posting.