How do I set up an ATM for currencies?

[crmcwi]

guys,

how would I set up an ATM that does the following in currencies where my entry is with 5 lots.

1) Sets a stop loss 20 pips from the entry for 5 lots
a. if filled, the profit target order is cancelled
b. if filled, the position reverses and applies this ATM
2) Sets a profit target for 3 lots 10 pips from the entry
3) Sets a break even target for the remaining 2 lots
4) Sets a chase for the remaining 2 lots that is peak minus 10 pips (or break even).

Please advise, thank you Craig.

[NinjaTrader_Tim]

Hi crmcwi,

Thank you for your post.

A few things to keep in mind when using ATM Strategies...

1. To use the Rev at Stop feature, the ATM Strategy for the original entry and the second entry should be the same.

2. You must have a Stop Loss

3. A trigger for the breakeven is needed, so for example, a trigger of 4 would cause the Stop to jump to breakeven at 4 ticks in profit.

After considering these things, please modify what you would like the Strategy to do, and I'd be happy to assist you.

[crmcwi]

now I'm confused

Tim,

I'm sorry, but as I read what I wrote and what you wrote, I'm not sure how to reply.

this is what I want to do:

1) I place a trade, long or short.
2) the ATM places a stop loss 20 pips out of the money that reverses the position and cancels any pending take profit order (from 3 below)
3) the ATM places a take profit order for 1/2 the position.
4) if the take profit order is filled, the stop loss is cancelled and the ATM chases the market.

what am I missing in this please?

[NinjaTrader_Tim]

Hi crmcwi,

You can set a Stop Loss of 20, and a Profit Target of 10, and use the "Rev at Stop" feature to reverse the position.
More info at - http://www.ninjatrader-support.com/H...ml?AutoReverse

The chase feature is used for limit orders on entry.
More info at - http://www.ninjatrader-support.com/H...html?AutoChase

Beyond that, you may need a strategy with custom coding for more advanced logic, if you are not a programmer yourself, you can contact one of our NinjaScript consultants.

http://www.ninjatrader.com/webnew/partners_onlinetrading_NinjaScript.htm

[crmcwi]

Thank you Tim.

You raise an interesting idea. I've coded a lot of C# in Ninja, but always indicators and automated strategies. Is there a way to invoke a strategy to manage a trade that was initiated manually? I know a trade can trigger an ATM to manage it, but how does one trigger a NinjaScript strategy to manage a trade?

[NinjaTrader_Tim]

Hi crmcwi,

Unfortunately, using a NinjaScript Strategy to handle a trade that was placed manually is not supported.