Target chase (exits)

[pjsmith]

Hi,

I'm trying to use target chase on NT8 for limit profit targets ONLY.

Either I'm misunderstanding it (entirely possible), or it's not working right for me.

As far as I can see, the docs state that this only becomes active once the target is touched, but for me, if the actual price is several ticks away from my target and ticks down, it kicks in and reduces my profit target. I only want to have the chase happen if my price is touched but I am not filled. This seems to be what is indicated in the docs, but it is not happening.

Could someone please put me right as to how this works?

Thanks.

OK - I think it may require the 'Chase if touch' option to behave as I want it? I've seen other documentation that did not indicate this.

[NinjaTrader_EricB]

Hello pjsmith,

Thank you for your post.

Glad to assist. That is correct, Chase if touch should only trigger if the price reaches the order. If needed, see the below section of our help guide for more on auto chase via NinjaTrader 8.

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

Let us know if we may assist further.

[pjsmith]

Hello pjsmith,

Thank you for your post.

Glad to assist. That is correct, Chase if touch should only trigger if the price reaches the order. If needed, see the below section of our help guide for more on auto chase via NinjaTrader 8.

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

Let us know if we may assist further.

Hi,

Thanks, but I only want chase if touched on the profit order, not the limit order entry. It seems if I tick the options 'target chase', and 'chase if touch', to get a profit target chased, only if it is touched, the limit order entry chases as well, which I do not want.

Is this expected, or am I doing something wrong?

[NinjaTrader_EricB]

Thank you for your reply.

Just to make sure, can you please elaborate on the " the limit order entry" that is moving?
Is this another, separate, pending ATM or the entry line?

Are both 'target chase', and 'chase if touch' checked?

We look forward to assisting further.

[pjsmith]

Sure. Attached is the ATM I have

What I want.

I try to get filled at the bid/ask (the other side of the spread, i.e. not mkt). For example. I click sell. A limit order goes in to the ask. This order is pending fill. Price is moving away from my entry order. The order moves (I hear it tick and see it move). I want my entry order to remain static.

Once filled, the stop and profit target orders go in. I ONLY want the profit target order to move dynamically when touched and not filled. It seems however that I need the 'chase if touch' option enabled to do this, but this also seems to limit affect entry orders? I guess if I was entering at mkt, this would not be an issue, but I rarely do that.

[NinjaTrader_Dennis]

Hello,
Thank you for your post.
In this case you will only want to use 'Target Chase' and not 'Chase if Touched'.

'Chase if Touch' only effects entry orders and 'Target Chase' will only effect your Profit Target Order.

Below is a link to our Help Guide as well as a video tutorial that will provide a few more details.

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

https://www.youtube.com/watch?v=yq-5UZnEVJo

Please let me know if I may be of any further assistance.

[chrishyewll]

Hello,
Thank you for your post.
In this case you will only want to use 'Target Chase' and not 'Chase if Touched'.

'Chase if Touch' only effects entry orders and 'Target Chase' will only effect your Profit Target Order.

Below is a link to our Help Guide as well as a video tutorial that will provide a few more details.

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

https://www.youtube.com/watch?v=yq-5UZnEVJo

Please let me know if I may be of any further assistance.

Hi Dennis,
I am have coded NT7 strategy to use my preset ATM template to enter order. Is it possible to code and enable the Target Chase? I frequently use this feature on ATM when I enter manually. I hope to have this feature in my strategy code also.

[NinjaTrader_ChrisL]

Hello chrishyewll, thanks for your post.

If you set up an ATM strategy template that uses target chase and you use that ATM in your strategy then target chase will already be used without your code doing anything. When you use an ATM it goes outside of the script completely to submit the order with an ATM.

Please let me know if I can assist any further.

[chrishyewll]

Hello chrishyewll, thanks for your post.

If you set up an ATM strategy template that uses target chase and you use that ATM in your strategy then target chase will already be used without your code doing anything. When you use an ATM it goes outside of the script completely to submit the order with an ATM.

Please let me know if I can assist any further.

Thanks! Will try this.

[pjsmith]

Hi - Just to report, this was fixed in the last release, but I have chase on with the following settings, limit to 1t, and chase seems to go mad! I've seen it go mad in a flurry of sounds, live, several times. Please can you test, as I am pretty sure something is still not right (the target however does not now chase immediately, as per the original issue). Thanks.

[NinjaTrader_ChrisL]

Hi pjsmith thanks for your follow up.

I've been testing on the latest release and it seems target chase is not working on my end. Chase works but I am not seeing my target chase doing anything to the target. I'll report this to my supervisor to fix.

[pjsmith]

Thanks Chris. Just for info, the chase ENTRY is wonky too now. This is what I was talking about before and I've just had it happen again. The chase ends up moving BOTH ways - The sound that gets played when the order is moved plays again and again in rapid succession. It's definitely not working right for me. Pretty sure this part was OK prior!

[NinjaTrader_ChrisL]

Hi pjsmith, thanks for your reply.

Your chase limit is set to one so it should only move one tick up or down. This part is working for me. Make sure you are on the latest version of the platform by running the installer from the link below:

https://ninjatrader.com/GetStarted

[NinjaTrader_ChrisL]

Hi pjsmith,

I've concluded there is no bug here with target chase. The price needs to touch the order in order for it to start chasing.

[pjsmith]

Yes Chris, that was the original bug, and I concur it was fixed. But, in doing so, chase ENTRY seems to have changed behaviour. If I have entry chase on also set to 1t, what happens sometimes is a huge flurry of 1 tick movement in BOTH directions on entry, with the tick sound I have that plays when orders moving being triggered many, many time. It should only move once, and only in direction of order. I was just looking through yesterdays video as I though I might have an example for you as it happened, but I missed it. If I get another example, I will email it to you.