Pending ATM Orders and Risk Measurement Tool

[ciremoo]

Hello, I have 2 questions about ATM orders and one about measuring risk.

1. When I place a limit or stop order to enter the market and I attach custom ATM order on chart trader specifying the price for my stop loss and my target limit order, why does my entry order appear on my chart but my stop loss and target limit orders do not appear until after the position is opened?

2. When I place a limit or stop order to enter the market and I attach a custom ATM order on chart trader specifying the price for my stop loss and my target limit order, why is the contingent OCO target and stop loss order not sent to my broker (IB) at the time the order is placed? What happens if I shut down my laptop to travel for a day? Will my ATM orders still go to my broker when my entry order fills and my computer is not live?

3. Is there a tool to measure the risk between my entry position and my stop loss order on the screen based on the size of the position? I am doing it manually of course, but it sure would be nice to show the risk between those 2 points or to show the potential profit between the entry price and the limit order on the screen.

Thank you very much for your time and consideration of my questions.

[NinjaTrader_Manfred]

Hello ciremoo,

I'd be more than happy to answer your questions!

1. The reason the profit target / stop loss orders don't appear until you are in an open position is due to how both orders are tied to the entry order's execution price.

Only once the entry order has executed, do the exit orders submit. This not only ensures that exit orders are not affected by potential slippage of the entry (as they are based on the execution price, not the submitted one), it also ensures that an especially volatile market does not shoot past your entry order without filling it, then potentially fills an exit order first.

2. The reason the exit orders are not submitted together with the entry order is due to how a brokerage does not have a way to attach an order that relies on another order's price.

E.g. We are not able to send an order to Interactive Brokers that is "5 points below the execution price of order X", we are only able to submit an order with an exact price.

As this exact price is not set until the entry order fills, it would only be submitted once this order fills.

It is important to understand the NinjaTrader Platform runs on your local PC and not in the cloud. That means, while you have full control over your connections, charts, and setup, the platform would not be able to execute ATMs or submit orders if it is not running.

3. We have a variety of indicators on our NinjaTrader Ecosystem that could visualize this on your chart.

The first (Riskruler) shows a more simplistic annotation on the chart, while the Advanced Risk Reward Indicator goes into a bit more detail in how it displays your risk:

• https://ninjatraderecosystem.com/use...oad/riskruler/
• https://ninjatraderecosystem.com/use...ard-indicator/

Here is a basic guideline of how to import NinjaScript add-ons in NinjaTrader 8:

Note — To import NinjaScripts you will need the original .zip file.

To Import:

1. Download the NinjaScripts to your desktop, keep them in the compressed .zip file.
2. From the Control Center window select the menu Tools > Import > NinjaScript Add-on...
3. Select the downloaded .zip file
4. NinjaTrader will then confirm if the import has been successful.

Critical - Specifically for some NinjaScripts, it will prompt that you are running newer versions of @SMA, @EMA, etc. and ask if you want to replace, press 'No'

Once installed, you may add the indicator to a chart by:

• Right-click your chart > Indicators... > Select the Indicator from the 'Available' list on the left > Add > OK

Please let me know if I can be of further assistance!

The NinjaTrader Ecosystem website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. The add-ons listed on this website are not to be considered a recommendation and it is the reader's responsibility to evaluate any product, service, or company. NinjaTrader Ecosystem LLC is not responsible for the accuracy or content of any product, service or company linked to on this website.