Stop Loss Question

[RCARL1962]

Consider this scenario....Lets say I sell 1 contract short at 3600 and I use an ATM that sets a buy stop at 3605. Then I add one more contract short. If I use the same ATM it adds another buy stop 5 point above the new short. Then I add 1 or 2 more contracts short and I have a whole bunch of buy stops stacked up when all I want it a single stop that I can move as the trade goes my way. If the trade goes against me I want to close out of all shorts.

Is there a way to make an ATM trade where instead of adding a new stop to every contract that is added it just increments the number of contracts to the existing stop order? There doesn't seem to be a way to quickly edit and add contracts to the existing stop. What I'm doing now is just creating a buy order for 2 if I am short 2. If I add another contract short making 3 short, I delete the buy order for 2 and create a new one for 3. That said, I haven't been using stops as much as I'd like to because it's easier to just hit the close button when things go sideways.

Ideally I would just like to place a close stop order instead of a buy or sell for each contract. If it hits the stop, I just want to close any open trades at market.

Is this possible?

[NinjaTrader_Zachary]

Hello RCARL1962,

Thank you for your inquiry.

If I'm understanding you correctly, this occurs due to the 'ATM Strategy Selection Mode' setting. To keep from creating a new set of profit targets and stop losses on order submission, this mode must be set to 'Select Active ATM Strategy on Order Submission'. This mode will automatically select the active ATM Strategy on entry order submission, and thus will add to the existing profit target and stop loss rather than create a new strategy. To change this setting;

• Right-click within the background of your order entry window (if using Chart Trader, right-click on the Chart Trader panel)
• Select Properties
• Change the 'ATM Strategy Selection Mode' to 'Select Active ATM Strategy on Order Submission'
• Select Apply and OK

More information about the ATM Strategy Selection Mode may be found at the link below;

https://ninjatrader.com/support/help...ction_mode.htm

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

[RCARL1962]

That's what I was looking for. Thanks.