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Possible to place Buy Stop and Sell Stop orders at the same time?
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Possible to place Buy Stop and Sell Stop orders at the same time?
I trade an ATM strategy where I am buying the break of the upper fractal or selling the break of the lower fractal. NT is not letting me set Buy Stops and Sell Stops at the same time because I have stops worked into the ATM strategy. Is there a workaround for this or will I just have to add the stops after the Buy Stop or Sell Stop trade has triggered?Tags: None
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Hello Dennis W,
Thank you for your post.
Absolutely, NinjaTrader's Strategy Selection Modes allow you to limit the display in the SuperDOM so that you can run concurrent ATM Strategies. One of the great features of NinjaTrader is its ability to manage multiple virtual positions in the same market. For example, this allows you to manage a long and short position in the same market simultaneously.
Here is how this is accomplished;- Open 2 SuperDOMs and set them both to the same market
- Right click in one of the SuperDOMs and select the menu "Properties"
- Set the 'ATM Strategy selection mode' parameter to "DisplaySelectedAtmStrategyOnly"
- Repeat the last two instructions on the second SuperDOM
- Submit a buy order to open a long position in the first SuperDOM
- Submit a sell order to open a short position in the second SuperDOM
Zachary S.NinjaTrader Customer Service
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Yes I have done this on both charts. To be clear, right clicking the chart itself and selecting properties does not bring up this ATM Selection Strategy Mode option. Only when I right click the chart trader tab on the right side of the chart and select properties does this option come up.
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Hello Dennis W,
Thank you for your reply.
Are you selecting the ATM Strategy template when you place the second order or are you selecting the original ATM Strategy? You will need to ensure that it is the template being selected, rather than the active ATM Strategy. The active ATM Strategy is represented by a lightening bolt symbol in the ATM Strategy control menu.
I look forward to your response.Zachary S.NinjaTrader Customer Service
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Hello Valtrading,
Thank you for your post.
Yes, but be aware that this is a virtual position. It is not technically possible to be both long and short at the same time. Thus, if you were to hold a long position and short position at the same time using this method on your live account, you are flat as far as your broker is concerned.Zachary S.NinjaTrader Customer Service
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Hello Crusade12 ,
Thank you for reaching out.
This would be possible with OCO orders.
Please see this publicly available video on OCO orders from our YouTube channel:
Learn how to use One-Cancels-Other or “OCO” orders. See how Advanced Trade Management incorporates OCO orders automatically and learn how to pair OCO orders ...
This explains how to placing a breakout strategy with OCO orders that have ATM Strategies applied. Essentially the steps would be as follows:- right-click within your order entry window and enable OCO
- select the desired ATM Strategy and place your first order
- select the desired ATM Strategy and place your second order
- right-click and disable OCO
One thing that I would like to point out (it is a common mistake/misunderstanding) has to do with the "Active ATM Strategy" - it can get a little tricky.
Once you place your first order with an ATM Strategy selected, depending on your ATM Strategy Selection Mode, the dropdown list for ATM Strategies may automatically select the active strategy with a lightning bolt symbol to the left of the name.
If you try to place a second order, you will receive an error message. It is important that you select a template or custom strategy from the dropdown menu again so that it shows the name with the little 'i' for information to the left rather than the lightning bolt.
For more information, I have included a link to the ATM 201 webinar with a timestamp for the section that goes over active ATM strategies:
Here is the help guide section that goes over the different ATM Strategy Selection Modes:
https://ninjatrader.com/support/help...ction_mode.htm
Let us know if we may be of further assistance.Erick P.NinjaTrader Customer Service
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