change contract size

[marcopicos]

Hello

My question is: can I change the contract size AFTER I open the position? For example, I put a long position and select my stop at 10 ticks distance. Then, I calculate that if 10 ticks correspond to a loss of $100, I adjust the contract size so the value of a tick is of $10.

Can I do it? or I need to do the calculation BEFORE I put the position?

I tried this with my demo account and it works. With my position working, I can change the contract size, even I can increment it, so my profit will be greater. But I don't know if I can do this with a real account.

Thanks.

[NinjaTrader_ChristopherJ]

Hello,

Thank you for your post.

When you say change the contract size are you referring to adjusting the stop loss to a new price once in a position?

If so yes you can modify your order when trading in simulation as well as when trading live.

I have provided a link below to our Help Guide that goes over Modifying Orders which includes a great tutorial video.

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

[marcopicos]

No, I mean going to menu --> tools --> instrument manager --> select one of them --> edit --> change point value

With this, even if my stop is at 20 ticks distance (based on a previous support or resistance) I know that if the market touches my stop, I will loss only $100 (my maximum loss per trade)

I want to know if I can do this after putting my order on a real account. With my demo I can.

I am not referring to moving my stop, just changing the value of the tick.

[NinjaTrader_ChristopherJ]

The Tick Size and Point Value setup by default within NInjaTrader will be based on the what the Exchange has set in place for that specific instrument therefore when trading live the value per tick will be same exchange tick value even if changed within NinjaTrader.

[marcopicos]

Ok. So I cannot trade with, for example, 0.5 contracts, is this right?. I need to do this because of my money managment. I put my stop sometimes 20 ticks away, and that is too much money for one single trade, so I want to trade less than 1 contract (a portion of it) and get less profit, if so, and I assure to myself that the loss will not be very much if the market touches my stop. How can I do this? I know that with MetaTrader for example I can change the number of lots, not 1, 2, 3... bue 0,5 for example. Is there a possibility to do this with Ninja?

Thanks

Marco

[NinjaTrader_ChristopherJ]

When trading futures the lowest available quantity is 1 contract and there is not an option to set this value to 0.5.