how to set a simple price (!) stop loss

[Philip.A.Coin]

hello,

I have been reading and trying the last weeks to get used to Ninjatrader.

I trade Forex and i can set an order ( even market order or stop buy or stop loss ) in any entry screen.

So far so good.

BUT:

I still do not understand how to set a simple stop loss at a CERTAIN PRICE ( after I have my order filled and then want to set a stop)

Yes, I can enter a point value in ATM but is Ninjatrader that complicated that I have to count pips every time I see a pattern and want to set a stop loss there?


it is not possible to enter a price value anywhere in the ATM strategy parameter window. How comes? What am I doing wrong as this is basic in other chart software?
Thanks in advance,

Ravi

[NinjaTrader_Brett]

Hello,

Welcome to the forums thanks for posting.

This is possible, you will need to change the Parameter type from Ticks, to Price for the ATM Strategy. To do this right click on the superDOM or chart trader pane and select properties. Then change the setting for Parameter Type from Ticks to Points.

Let me know if I can be of further assistance.

[Philip.A.Coin]

Thank you very much for that fast response.

i have changed the parameter to price a you have told me.

I then click on the ATM Strategy and a window "ATM Strategy pops up:

I assume that I have to set my stop loss price at the stop strategy button to "custom"?

I did so and a second window pops up where I can enter a price value?

I ask because I still cannot insert a price value in the stop loss box in the ATM Strategy window.

Could you explain this to me step by step? assume the I bought EURUSD long for 1.3211 and I want to set a market stop loss at 1.3150. Where would I enter the stop at 1.3150? And is it market order automatically?

Thank you for answering that stupid beginners question.

:-)

Ravi

[NinjaTrader_Brett]

An ATM Strategy cannot be placed on a market order after the fact. It has to be set before you place the entry order.

-Set ATM paramters, set to custom and type in the price you want the stop at, and the price you want the profit target at, leave it blank if you dont want a profit target.

-Then submit the order. The STOP loss will be submitted automatically once the order is filled.

If you have an open position without any stop loss or profit target orders protecting it you can easily add these exit orders.

Please see a post in our support forum that outlines how to accomplish protecting an open position.

http://www.ninjatrader-support2.com/vb/showthread.php?t=6197

Let me know if I can be of further assistance.

[Philip.A.Coin]

This seems to be the answer to my problem.

I will try it out. Thank you for your kind help and especially....

your patience.


;-)

ravi