Exit based on $ ammount loss

[eventrader]

In SuperDOM, is it possible to set a set a default condition that automatically exits the position if loss in the position exceeds a certain $ amount. For example, if the loss exceeds $1000, exit the position.

[NinjaTrader_RyanO]

Hi eventrader,

Thank you for your post.

It is not possible to exit a position based on an absolute value of that position, but you could set up your ATM strategy to exit the position with a stop loss based on the loss in value that a specific contract and number of ticks that would represent.

Like say you are trading the ES, where one tick movement equals 12.50 then if you want your stop loss at a 50 dollars you could have a 4 tick stop loss.

You can also right click in the SuperDOM and then choose Properties. Change the parameter type to Price and you could input a stop loss order at an absolute price.

[andy4]

Hi,
is there a way to set up where to close the position when "x" amount is reached, based off the average price ? I scale in and out of trades, so always have my average price marked in brown color on the DOM and Chart Trader. For example anyway to exit on say 4 ticks above average price automatically ?

Thanks,
Andy

[NinjaTrader_Bertrand]

Andy, unfortunately this is not possible, you would need to adjust then - the initially submitted targets are based of the execution price.