ATM Strategy, 2 Contracts, Exit 1 Contract

[i2w8am9ii2]

Hello,

I have an ATM Strategy shown below, but I want to change it to have it start with 2 contracts, and then exit one of the contracts, if I end up with a $300 profit and keep the second contract going until it is stopped out. I want to be able to capture the larger price movements. To have a 'runner' if you will.

Below are the dollar amounts I want for each contract. How would I combine them into one ATM Strategy, so that the second contract would still be in effect after the first contract is closed out?

{First Contract}:

1 Target:

Qty: 1
Stop loss: $150 (12 ticks)
Profit target:

Stop Strategy

Auto trail (ticks):

Step 1:

Profit trigger: $100 (8 ticks)
Stop loss: $50 (4 ticks)
Frequency: $50 (4 ticks)

Step 2:

Profit trigger: $200 (16 ticks)
Stop loss: $50 (4 ticks)
Frequency: $50 (4 ticks)

Step 3:

Profit trigger: $350 (28 ticks)
Stop loss: $50 (4 ticks)
Frequency: $50 (4 ticks)

{Second Contract}:

1 Target:

Qty: 1
Stop loss: $150 (12 ticks)
Profit target:

Stop Strategy

Auto trail (ticks):

Step 1:

Profit trigger: $175 (14 ticks)
Stop loss: $100 (8 ticks)
Frequency: $100 (8 ticks)

Step 2:

Profit trigger: $400 (32 ticks)
Stop loss: $100 (8 ticks)
Frequency: $100 (8 ticks)

Step 3:

Profit trigger: $700 (56 ticks)
Stop loss: $100 (8 ticks)
Frequency: $100 (8 ticks)

[NinjaTrader_Kyle]

Hello,

Thank you for your post.

I am having trouble determining which settings to use for the auto-trail strategies as the Stop Loss order appears to remain at the same price in each step in your examples. Can you briefly outline a price based example of these two trailing stops?

[i2w8am9ii2]

Hi Kyle,

Thanks for your response.

I paper traded the second ATM Strategy above {Second Contract} and the stop loss does trail behind prices, as prices move up or down. I am assuming the following occurs:

* If prices get to $175 of profit, the stop loss moves to lock in $75 of the profit.

* If prices then get to $400 of profit, the stop loss moves to lock in $300 of the profit.

* If prices then get to $700 of profit, the stop loss moves to lock in $600 of the profit.

During a couple of large moves while paper trading, the stop loss did lock in my profits. Prices moved too fast for me to know exactly what occurred although.

Please correct me if my understanding of what happens here is wrong.

Please also let me know if there is a way to do what I am trying to do here, and if so, how specifically.

[NinjaTrader_Kyle]

Hello,

Unfortunately, I am still confused on this example and since I want to ensure that the settings which I provide you are correct please contact me by email at PlatformSupport [AT] NinjaTrader [DOT] com so that we can setup a time to work with you remotely to create a strategy which exactly meets your specifications.

In your message please include the following:
1.) A link to this forum thread.
2.) A phone number where we can reach you tomorrow.
3.) A time when we should plan to contact you. We would be able to follow up with you remotely any time between 8:30 AM - 6:00 PM EDT.

[i2w8am9ii2]

Hi Kyle,

Okay, thanks, I'll email you folks later to set it up.

In the meanwhile, I want to try using one of my existing ATM Strategies listed above, starting with 2 contracts and then close one of them out manually when I have a 5 tick profit.

How would I do that?

[NinjaTrader_Kyle]

Hello,

The easiest way to accomplish this is to move one of your profit target orders to the 5 tick price where you would like to exit. This will result in an exit of half of the position while leaving the secondary stop loss and profit target in place.

[i2w8am9ii2]

Hello Kyle,

Thanks for your reply.

Not sure I understand how I would do that. I see a number 2 in Chart Trader, I can separate one of them and drag it by itself to a new position?

[NinjaTrader_Kyle]

Hello,

I was assuming that you were using two profit targets which rested at different prices. So that I can more accurately address your question please provide me with an image of the ATM strategy settings which you are currently using.

[i2w8am9ii2]

Hi Kyle,

I had to go run some errands.

No, I don't have any profit targets in my ATM Strategy. I only have my stop loss trail prices.

Attached are two screenshots.

[NinjaTrader_ChristopherS]

Hello i2w8am9ii2,

To do this you would need to cancel the order and manually place a new order to act as the stop loss order

It is not possible to split a stop loss order that is for multiple contracts.