add stop strategy to existing trade

[bmaltz]

How would I add an automaticstop strategy to an existing trade?

[NinjaTrader_Ray]

imported post

You mean an open position that does not have an ASM strategy managing it?



Ray

[bmaltz]

imported post

that is correct - just an existing position with NO ASM strategy in place & operatng (in fact, I don't have any ASM strategies defined, yet)

[NinjaTrader_VinceB]

imported post

If you have an open position without a strategy, you need to add a limit and stop order to protectthe position.

- Set strategy to<none>
- right click in the DOM and enable OCO order
- Then place a limit order where you want to exit at a profit
- Then place a stop order where you want to exitat a loss
- Then right click again and disable OCO order


Vince

[bmaltz]

imported post

Hi Vince,

Thanks for the reply.

So, I guess that once I have a trade on without any ASM set up I have to manually enter my profit and loss stops. What does ASM stand for?

Why do you say to disable the OCO once you've placed the limit and stop orders?

Thanks,
Ben

[NinjaTrader_VinceB]

imported post

Ben,

ASM = Advanced Strategy Management

More info can be found here:

http://www.ninjatrader-support.com/H...verview13.html

The reason why you need to disable the OCO after the order entry is because the orders are grouped then and every order placed afterwards will not be part of that group.

Vince