Scaling out of position

[iq200]

Hi,
Is there a way that I can scale out of my position?
Say I am long N shares and I want to scale out of 3/4, can I do this?
Regards,
iq

[NinjaTrader_ChrisL]

Hello iq200,

Thanks for your note.

You can scale out by adjusting the "Quantity" field in any of the order entry options in NinjaTrader. So if you were 9 long and you wanted to scale out, you can place 3 sell orders with 3 quantity at different price levels and that will scale you out of the position.

Kind regards.

[iq200]

Thanks Chris. Its a little bit awkward if trading equities if I want to say scale out 1.5K shares from a 2K position. I was looking for a way to scale out by just pressing a button or hotkey. Other platforms seem to have this.
If the Ninjatrader is unable to handle this, is there a way to do it using programming?

[NinjaTrader_ChrisL]

Hi iq200,

Thanks for your reply.

Yes, you can go to Tools>Hot Keys and set up a custom order under the "Order Entry" section. You can add as many custom orders as you need.

Kind regards.

[iq200]

Thanks Chris. This only lets you define the order and price and not the amount of position or number of shares. I assume the number of shares is taken from whatever order entry form that has focus. It's a shame that hotkeys to define the % amount of position to scale out is not in Ninjatrader.

I've found that you can create an Ninjascript addon to do whatever you like so I may look at that.

[NinjaTrader_ChrisL]

Hi iq200, thanks for catching that, I will need to submit a feature request to add a quantity field into that area of the hotkeys as well as scaling out of a position by a particular percentage. This could also certainly be done through NinjaScript in a custom Addon.

Heres an example on adding custom buttons to a chart if needed:

https://ninjatrader.com/support/forum/forum/ninjatrader-8/indicator-development/96376-modifications-to-chart-wpf-elements-and-tab-considerations

Kind regards.

[iq200]

Thanks Chris. The examples are very useful!
I don't think percentage is currently supported but it would be totally awesome if the percentage feature could be added to Ninjatrader.

[paravie]

I would like to add my vote for this feature. It would be amazing if we could exit positions based on a percentage of the current lot size!