Possible to place Buy Stop and Sell Stop orders at the same time?

[Dennis W]

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?

[NinjaTrader_Zachary]

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

For more information please see the ATM Strategy Selection Mode section of the user help guide, or attend one of our free live training events.

[Dennis W]

Thank you. Can I use this method with chart trader by using two separate charts?

[NinjaTrader_Zachary]

Hello Dennis W,

Thank you for your reply.

Correct. With Chart Trader, you may utilize the same set of instructions but substitute the SuperDOM with Chart Trader.

Please let us know if we may assist you further.

[Dennis W]

Doesn't seem to be working. After placing Buy Stop order on first chart, when I place Sell Stop order on second chart I get message "You can't submit an exit order to a strategy until any of its entry orders has been filled"

[NinjaTrader_Zachary]

Hello Dennis W,

Thank you for your reply.

You need to change the ATM Strategy Selection Mode on both charts. It is a per-window setting.

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

[Dennis W]

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.

[NinjaTrader_Zachary]

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.

[Dennis W]

Thank you, that was the issue. Always something to learn with this platform!

[Valtrading]

Hello,
does it work on the real future market for example NQ?
Regards

[NinjaTrader_Zachary]

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.

[toaniel]

Thank you. This was exactly what I was looking for. I did it with the chart trader and works well.

[Crusade12]

Hello,

Is it possible to place a bracket order when placing a buy stop and sell stop at the same time? Meaning if I get filled first on my buy stop, then my sell stop gets cancelled and the other way around?

[NinjaTrader_Erick]

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:

https://www.youtube.com/watch?v=WRljOiyDaq4

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:

https://youtu.be/Gnyx8RSp3EI?t=1277

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.

[Crusade12]

Thanks! I just tried on a Sim account and I placed both orders however after my buy stop order got filled, the sell stop was not cancelled. There must be something that I am missing.