Market position $ Limit

[djkiwi]

hi Guys, I'd appreciate someone advising how to place a limit on the % or $ amount of the account balance as a risk management control.

For example, using the scenario of running the same automated strategy on 6 instruments. Assume the account balance is $100,000 and want to risk up to 1% of the account balance on total positions at any one time. i.e $1,000 with all trades being 2 contracts.

Taking this example further assume the system has actioned the following trades and remains long in the trades:

2 x trades on TF with a 20 tick stop - risk $400
2x trades on CL with a 20 tick stop - risk $400

Assuming a long for the Euro has been triggered while in these trades I don't want this 2 contract position being taken because it would breach the 1% threshold of $1000. It should only be taken if one of the other positions has been closed out.

Anyone have ideas or example on how to achieve this or any alternatives if this is too difficult?

Thanks in advance
DJ

[NinjaTrader_Matthew]

Hello DJ,

Thank you for your post.

You can set the Strategy Property 'AccountSize' to accomplish this:

http://www.ninjatrader.com/support/helpGuides/nt7/accountsize.htm

Then you can set your desired Margin Value for each instrument you are trading from Tools--> Instrument Manager--> highlight the Instrument and select "Edit" which will open the Instrument Editor.

Then when you are starting the strategy, you have the option to set the order quantity 'by account size' which will work off of these properties.