Hard stop in Chart Trader

[reedstickets]

Is there a way to add a hard stop to Chart Trader? Such as $100 stop loss (.002% of cash amount being traded?) no matter the instrument? Or, is there a way to quickly figure out the position size stop loss?

TIA

[NinjaTrader_PatrickG]

If you're using ATM strategies, you could configure the ATM with a parameter type of 'Currency', This would allow you to risk a certain amount of dollars and NinjaTrader would automatically translate that into ticks away from your entry, For example, the CL is worth $10 per tick. If you set your stop loss to $100, then NinjaTrader would place the stop loss 10 ticks from your entry price. You can learn more about the different ATM parameter types here:

https://ninjatrader.com/support/helpGuides/nt8/en-us/index.html?atm_strategy_parameters.htm#UnderstandingStopLossAndProfitTargetParametershowToSetYourStopAndTargetValues

It is not possible to configure manual trading to risk a percentage of your account's cash value, however, this would be possible through custom NinjaScript programming. If you want to learn more about how to create a custom strategy that could do this, please start a thread in the NinjaScript forums or contact us via email at PlatformSupport[AT]NinjaTrader[DOT]com.

[reedstickets]

Thanks Patrick,

That is great news. I actually have a strategy I created years ago in NT7 that traded a cash value amount of my account. It is a great feature and one that would make Chart Trader function perfectly for equity traders. One less thing to deal with in fast markets.

[reedstickets]

Hi Patrick, I have it ATM st to currency and stop loss to "50.00" but it is calculating it as 5 ticks on all charts regardless of equity price.

TIA

[NinjaTrader_PatrickG]

What was your quantity? I would expect that NinjaTrader would change the tick value relative to the quantity. For example, when trading an equity, a currency of $50 would translate into 5000 ticks. if you traded 100 quantity, the tick value would be 50 ticks.

[reedstickets]

I think I got it, it was a quantity issue. Will the auto break even be set to currency as well now? Such as up 50$ move to break even?

[NinjaTrader_PatrickG]

Stop strategies can only be programmed in ticks or pips. You'll notice that when you have 'currency' selected for your parameter type, there is a 't' in parenthesis next to Auto breakeven and Auto Trail. This indicates the values will be ticks.

[reedstickets]

Thanks for the help again. Can I run the "%" function and accomplish what I want? Place say 2500 shares of $10 a share stock. Set the stop loss to ..2% have which would be a $50 hard stop then set the .2 in profit/ autobreak even and have it move once I am up $50?

I will try to test in sim data if I remember how .

EDIT: Seems to have worked in Sim data. So Then I can create this one ATM and just calculate my shares for the instrument. Wether it be 2500 shares at $10 or 1250 shares at $20 my stop loss and auto break even can be set t a strict hard stop correct?

It would be nice to even have a little calculator built into the chart trader.

[NinjaTrader_PatrickG]

This isn't currently possible without custom programming. I have submitted this as a feature request to the Development Team.

The internal tracking number for your feature request is SFT-4025. 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/helpGuides/nt8/en-us/?release_notes.htm

[reedstickets]

Hi Patrick,

I had the % working perfect for me last night with sim data. What type of custom programming would I need?

[NinjaTrader_PatrickG]

If it's functioning how you want it, then I've probably misunderstood your desire. The percentage tool is not based on your account value. If you're wanting to use a percentage of your account value, this would require custom NinjaScript programming. If you want to learn more about how to create a custom strategy that could do this, please start a thread in the NinjaScript forums or contact us via email at PlatformSupport[AT]NinjaTrader[DOT]com.

[reedstickets]

While it is not working off a percentage of my account value I m able to accomplish what I need by simply dividing the stock share price against my account value to come up with a quantity of shares. Then plug that number into the ATM template with percentages based of of those numbers (in this case .2%).

Does this make sense?

[NinjaTrader_PatrickG]

Yes, this is what the feature request I've submitted to the Development Team is regarding - a calculator for that.

[reedstickets]

Okay thank you, That would make things a bit more efficient and be nice for me, but the fact that this works the way I need it to in ATM strategy has me happy. So thank you fr the help.

[reedstickets]

Actually one last question, is there a way to stop the ATM and take over manually or have it only move to trail for two times and then stop?