scaling out via FX Pro

[Ben Sweet]

hi, i'm trying to work out how i can enter a trade at market with 2 contracts using FX pro and scale out one at a time with different limit order levels.

so far the only way i've worked out how to do this is to scale in by entering one trade with one contract, enabling OCO, entering the stop and limit. then turn off OCO and enter the second trade with the second contract, then enable OCO and ad the second stop and limit. this seems to work, however it is too time consuming. by the time i've entered the first trade, the price has usually moved away from my entry point and i either miss entering the second contract or enter at a different price.

if i enter with 2 contracts initially, enable OCO and then place the stop and both limits, as soon as one limit is hit, the stop and second limit gets cancelled. this leaves me with a naked position.

is there a better way of doing this?

[NinjaTrader_Jason]

Hello Ben_Sweet,

I suggest to use the same order quantity for your protective orders (OCO) as the entry order. That way, you will not be left naked once either protective order executes.

You could also make use of an ATM strategy. Please see the link below for more information.

http://www.ninjatrader-support.com/HelpGuideV6/StrategyMode.html

[Ben Sweet]

thanks for the rapid reply Jason. so if i understand you correctly, you're saying that if i enter at market, without an ATM strategy, then i have to place the orders as per my original post and there is no faster or more efficient way of doing this?

[NinjaTrader_Jason]

Correct, without using an ATM strategy, submitting OCO orders would be the quickest way.

[Ben Sweet]

ok thanks.