ATM on any stock

[stevenev1]

I am thinking of purchasing NT as a front-end to IB TWS and appreciate your help.

NT has very sophisticated ATM capabilities that I very much need. The question I have is how fast you can adjust an ATM strategy for a stock that you just found by scanning. I see from videos that you can fine tune ATM for, say, ES... but what if I need to trade a stock I just found, so time is of essence.

So in this scenario I like to visually adjust multiple things and not go through ATM screens, which take time.

[NinjaTrader_Zachary]

Hello stevenev1,

Thank you for your post.

Rather than create an ATM Strategy on the fly each time, you can create any number of ATM Strategy Templates in advance to quickly place a stop loss and profit target at predefined levels away from your entry. Once the stop loss and profit target are in place, they may be manually adjusted with the click-and-click method (or even 'single click order modification', if using the SuperDOM). More information about ATM Strategy Templates may be found at the link below;

https://ninjatrader.com/support/helpGuides/nt8/?manage_atm_strategy_templates.htm

Please let us know if we may assist you any further.

[stevenev1]

Thanks, Zachary, for quick reply.

That should work. In follow up to my research, I noticed you can use percentages for gain/loss/stop. I guess that would be a more general case that could be quickly adjusted for any stock. If one uses ticks or cents, then it would not work generally for stocks that could range from a few dollars to a few thousand dollars per share, but percentages normalizes that and then it could be quickly visually adjusted. Am I on the right path.

Also and I don't know if this is IB-related and if you could answer, but if I am only looking at one stock (and not scanning a whole bunch of stocks) could I use data from IB or have to subscribe to another data service? I don't need tick data, just cents.

[NinjaTrader_Zachary]

Hello stevenev1,

Thank you for your reply.

Using the 'Percent' parameter type would place your stop loss and profit target a percentage away from your average entry price, based on average entry price and would fit the need that you are describing. You may learn more about additional ATM Strategy Parameter Types at the link below;

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

The Interactive Brokers connection does not support historical tick data within NinjaTrader, but it does provide real-time values and also supports historical minute and day data. The Interactive Brokers connection supports equities instruments as well so you'd definitely be able to use that connection for equities data. Whether or not you'd want to use the Interactive Brokers connection for data would really just depend on your specific needs. Please see the link below for information about our various supported connectivity providers and the types of data that is supported by each connection;
https://ninjatrader.com/support/help...y_provider.htm

[stevenev1]

Hi Zachary,

There is only one issue that I have not resolved. In ATM, quantity is a number not a percentage of the transaction order (say 50%). What this means is that I have to adjust all the various quantities depending on the price of stock and the quantity needed.

I wish you could support percentages in quantities as then everything is normalized. Help?

... and thanks a million for all the detailed explanation.

[NinjaTrader_Zachary]

Hello stevenev1,

Thank you for your response.

This would not be possible when using ATM Strategies. As a workaround, you could save multiple ATM Strategy Templates with the same profit target and stop loss settings, but different order and target quantities. If this is too cumbersome, you may want to look into using custom scripts to create fully automated strategies. If you are a programmer, you can learn more about NinjaScript at the link below;

https://ninjatrader.com/support/helpGuides/nt8/?ninjascript.htm

If you are not a programmer, you could try your hand at developing a strategy with the Strategy Builder or reach out to vendorsupport(at)ninjatrader(dot)com for a list of NinjaScript Consultants that you could hire to develop this script for you.

[stevenev1]

Thanks, Zachary. I can program, but I think I will lose the GUI and on the fly adjustments.

I think I will create different scripts for some main instruments and just trade those. I think that works, for example emini, spxl, dust/nugt, etc.