Bracket Orders ATM and Script

[tonynt]

Hello,

I want to ask please if there is a difference between

a.) calling an ATM (with predefined stops and targets) from a NT-script-strategy OR
b.) using SetStopLoss and SetProfitTarget within the code of a NT-script-strategy?

I think to remember (but couldnt find the thread, sorry!) that its more safe to call an ATM because there is a string sent with the entry, which is not sent with SetStopLoss and SetProfitTarget coded in a script(?)

Thank you for clearifiying and explanation what will be the advantage of using the ATM for stops and targets instead of coding in the script.

Thank you!
Tony

[NinjaTrader_AlanP]

Hello tonyNT,

Thank you for your note.

They are different.

SetStopLoss and SetProfitTarget are part of the managed approach while using ATM templates from a strategy are not, thus EntriesPerDirection, EntryHandling, IsExitOnSessionCloseStrategy do not apply. While both methods are similar, there are differences, and I encourage you to read the links below to determine what works best for you.

Using the ATM template method would allow more manual control over modifying PT/SL orders, but the managed approach would provide benefits best described in the link below,

https://ninjatrader.com/support/helpGuides/nt8/en-us/?managed_approach.htm

I would also encourage you to read the following link using ATM Strategies,

https://ninjatrader.com/support/helpGuides/nt8/en-us/?using_atm_strategies.htm

Please let us know if you need further assistance.

[tonynt]

Hello,

thank you for your reply and the links. But what I wanted to ask especially is the difference of the handling of stoplosses and profittargets. I remember an information, but cant repeat in english language accurately, that an ATM is more safe because there is sent a string together with the orders (for "use" on NT-brokerage servers or exchange(?)) and this string is not sent for stoplosses and targetes from NT-script and there is a certain and important difference. Can you imagine what I´m referring to?

Thank you!
Tony

[NinjaTrader_AlanP]

Hello Tonynt,

How do you define more safe?

The SetStopLoss and SetProfitTarget are tied to together with an OCO ID, so that when 1 is filled the other is canceled.

I look forward to your reply.

[tonynt]

Hello,

I try to find the thread about this topic this weekend and then I send a reply.

Tony

[tonynt]

Alan,

I found the link of the thread http://ninjatrader.com/support/forum...d.php?p=454729 but now I´m confused even more. Let me be more accurate with my question and focus only on stoploss and profittarget. When entering a trade from script with setstoploss and setprofittarget do they have the same"quality or safety" as when calling an ATM from a script and using the stoploss and profittarget from the atm? Do they work exactly same when a target or a stop is hit or is there a disadvantage from ATM or script? Is this technically the same referring your servers and exchange? Are both (stop, target ATM and stop, target script) on the exchange when trading with NinjaTraderBrokerage and continuum? (and what about rithmic?)

Thanks
Tony

[NinjaTrader_AlanP]

Hello tonynt,

Both methods will cancel the profit target if the stop target is filled and vis versa, so yes, they are the same in that regard. Under both approaches the orders are tied together with an OCO id, which is working with the exchange/broker. If this does not answer your question about safety, could you please provide additional information on how you define safety or quality?

Could you provide more information on what you mean by referring servers and exchange, so I can best answer this question?

I look forward to your reply.

[tonynt]

Hello,

thank you for your reply, this gives me what I wanted to know, so that I can do the accurate question in this concern. The question is when I´m in a short trade from scriptstrategy and having a stoploss "SetStopLoss("kSa", CalculationMode.Ticks, 6, false);" but not target with the entry and I bring in the profittarget "SetProfitTarget("kSa", CalculationMode.Price, Low[0]-2*TickSize); later when I´m already in the trade is this target (its the same name as the stop is defined) working exactly same by an OCOid as if I would have done the stop and the target both immediately with the entry?

Thank you
Tony

[NinjaTrader_AlanP]

Hello tonynt,

The stop loss and profit target would use the same OCO id even if submitted at different times.

Please let us know if you need further assistance.

[tonynt]

Hello,

thank you for your reply. But this sounds confusing for me:

"... even if not submitted at different times."


Best
Tony

[NinjaTrader_AlanP]

Hello tonynt,

I have corrected that line in my previous post. It should read,

The stop loss and profit target would use the same OCO id even if submitted at different times.

Please let us know if you need further assistance.