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Break even stop

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    Break even stop

    Is there any way to add a break even stop button or a hot key when using the chart trader? I know the ATM has ways to move the stop but I need a way where I can just quickly hit a button press a key stroke to move to break even. I don't want to have to drag a stop on the SuperDOM but at the same time I need discretion to choose when to go to breakeven vs have the ATM do it automatically.

    Also can someone direct me how I can setup a strategy so that if I have 4 targets and first is hit and then stop moves to break even, then second target is hit and stop moves to area where first target was, third target is hit and stop moves up to 3 target and then stop turns to a trailing stop moving up .01 for every .05 that price moves. This is for stocks not futures.
    Last edited by dr0832; 01-04-2019, 10:39 AM.

    #2
    There is no hotkey that will automatically move the stop loss to breakeven, however, you could configure your ATM strategy that has a stop strategy which would move your stop loss to breakeven automatically. Here is a link with more information about stop strategies:

    https://ninjatrader.com/support/help..._breakeven.htm

    Please clarify - are you trading 4 total contracts/quantity in this ATM strategy? Also, when you refer to .01 and .05, are these tick values or literal price of the instrument you're trading?
    Patrick G.NinjaTrader Customer Service

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      #3
      Is there any add on to have a break even stop or could this be code as an add on? I am trading stocks so if I buy 1000 shares I sell 250 shares at each target. Cents, not ticks.

      Comment


        #4
        This may be possible via an add-on with a custom button, but a hotkey like you desire would not be possible via NinjaScript. I have submitted this as a feature request to the Development Team. The internal tracking number for your feature request is SFT-2386. Please reference this internal tracking number if you ever have questions regarding this feature request.

        When a feature request is implemented, you'll find it in the release notes:

        http://ninjatrader.com/support/helpG...ease_notes.htm

        When an instrument trades in .01 increments, ticks and price would be synonymous. 1 tick = .01 in price movement. I would recommend programming your ATM strategy in ticks.

        First, you would need to add 3 additional targets so you have access to 4 total targets. You didn't provide me with what these 4 targets profit target would actually be, so I just filled in generic values for them. You may adjust all of these values to fit your specific needs:

        https://www.screencast.com/t/oudBzQR3nKpB

        You would then need to create a stop strategy to apply to targets 2-4. This stop strategy will first have a breakeven of 10-0 which will move all stop loss orders to breakeven after 10 ticks of profit is reached (this is also when target 1 is filling). Then, we move to the auto trail section where we configure three steps
        • Step 1 = 10-20-999 - this causes all stop losses to move 10 ticks behind the last traded price after 20 ticks of profit (where target 1 was filled)
        • Step 2 = 10- 30-999 - this causes all remaining stop losses to again move 10 ticks behind the last traded price after 30 ticks of profit (where target 2 was filled)
        • Step 3 = 10-30-5 - this will cause the remaining stop loss to update to remain 10 ticks behind the last traded price for every additional 5 ticks of profit. (unfortunately, it's not possible at this point to configure the auto trail to move 1 tick closer for every 5 ticks in this scenario)
        https://www.screencast.com/t/1kpbGqaWIB7K

        I would highly suggest that you watch our publicly available ATM YouTube and Help Guide videos to learn more about stop strategies:

        https://youtu.be/DH9y-j64X1U
        https://ninjatrader.com/support/help...mentStrategies
        Last edited by NinjaTrader_PatrickG; 01-04-2019, 04:38 PM.
        Patrick G.NinjaTrader Customer Service

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          #5
          What if instead of a fixed X tick profit target ai wanted to use something like a moving averages? Would this be possible do do the same risk management strategy I mentioned above.

          Comment


            #6
            This would not be possible using ATM strategies, but would be possible via custom programming of an automated NinjaScript strategy. If you'd like more information about how to program a NinjaScript strategy, or to find out more about third-party strategies with this functionality, please start a new thread in the NinjaScript sub-forums or contact us via email at PlatformSupport[AT]NinjaTrader{DOT]com
            Patrick G.NinjaTrader Customer Service

            Comment


              #7
              I actually ended up creating my own indicator which has a break even stop button for the chart trader along with some buttons to sale 1/4, 1/3 or 1/2 of your position at the bid or ask in one click without setting the quantity. If anyone is interested you can read about it here.
              A breakeven stop button for the ninja trader 8 chart trader.
              Last edited by dr0832; 06-17-2019, 07:33 PM.

              Comment


                #8
                Prior responses say there is no Breakeven hotkey, but there is. See Tools > Hotkeys > Categories - Order Entry > Breakeven position. That hotkey moves the stop to the position entry price. An improvement to that hotkey would be an additional +/- Ticks configuration setting so the stop moves to Breakeven +/- #-ticks, but as-is that hotkey does move the stop to near where you want it. After that, you have to manually adjust to actual breakeven (with commission and slippage).

                Comment


                  #9
                  Thanks for pointing that out, Lancer.

                  I have submitted this as a feature request to the Development Team. The internal tracking number for your feature request is SFT-4072. Please reference this internal tracking number if you ever have questions regarding this feature request.

                  When a feature request is implemented, you'll find it in the release notes:

                  http://ninjatrader.com/support/helpG...ease_notes.htm
                  Last edited by NinjaTrader_PatrickG; 06-19-2019, 01:56 PM.
                  Patrick G.NinjaTrader Customer Service

                  Comment

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