Entering into a trade with trailing stop

[Arpad]

Dear NinjaTrader,

I would like to enter a position with trailing stop.
So does NinjaTrader offer buy/sell trailing stop entry order?

I think there are at least two possible cases when this would be good to use:

· A swing is forming against the prevailing trend / trend of the day, and once there is a given magnitude in the opposite direction what is corresponds to the prevailing trend, you want to enter.
· There might be a Central Bank intervention with an effect of a several hundred pips movement, and you want to enter when this movement starts to form against the actual trend.


Is it possible to do this with NinjaTrader, or do you plan to implement this?


Best regards,
Arpad

[NinjaTrader_ChristopherJ]

Hello Arpad,

Thank you for your post.

Yes you may attach a Trailing Stop to your ATM Strategy within NinjaTrader as well as an Auto Breakeven Stop Strategy.

I have provided a link below to our Help Guide that goes over ATM Strategy, Auto Breakeven and Trailing Stop parameters which also includes a great tutorial video.

http://www.ninjatrader.com/support/helpGuides/nt7/advanced_trade_management_atm.htm

Once a strategy has been configured it may then be attaced to any to your entry orders within NinjaTrader.

Please let me know if I may be of further assistance.

[Arpad]

As it is stated in the title of my thread, I want to Enter into a trade with trailing stop.
Is this possible?

[NinjaTrader_ChristopherJ]

As it is stated in the title of my thread, I want to Enter into a trade with trailing stop.
Is this possible?

Yes if select the ATM Strategy with a Trailing Stop configured prior to submitting your order it will trail with the parameters you have defined. You may attach the ATM Strategy to a Market Order, Limit Order, Stop Order or a Stop Limit Order whatever your preference may be when entering into a trade.

[Arpad]

I want to place a sell stop trailing stop order to open my position

I am not sure if we understand each other. Maybe it’s just me who doesn’t understand you, sorry…
I am flat. I have no positions at all.

I want to enter into a position, or phrasing it in another way, I want to initiate a trade, or I want to open a position.
The price is rising, and I want to open a short trade when the price starts to change its direction and starts to decline.
Until that, I want to trail the price upwards from let’s say a 50 pip distance. If the price starts to decline, my stop order doesn’t trail, stays in place, and once the price declines 50 pips, my position gets opened. If the price follows its way upwards, my stop trailing it from a 50 pip distance.

So, this means, I want to place a sell stop trailing stop order to open my position.

Is this possible?
If yes, please give me a step by step instruction or point me to a step by step guide.


Thanks.

[NinjaTrader_ChristopherJ]

Thank you for clarify and yes this can be done with the steps I have provided below.

• Set your ATM Strategy to Custom
• Stop Loss - 50
• Select Custom from the Stop Strategy drop down menu
• Auto Trail
• Profit Trigger - 1
• Stop Loss- 50
• Frequency - 1
• Click Ok
• Right mouse click within the SuperDOM
• Advanced Options
• Input a Chase Limit value for the amount of ticks you are willing to chase the current price. In this example I used 25
• Enable Chase
• Submit your Buy Limit for a Long Entry 50 Ticks below the current price

I have also attached screen shots of the parameters required

[Arpad]

Trailing stop order TO OPEN a position -- opening a position BY a trailing stop order

I didn’t succeed with that.

Regarding what you wrote:
· Auto trail – we don’t have to deal with auto trail, since it deals with the stop order of the corresponding open position. First, I want to open my position with the mechanics I described. This is it: Trailing stop order TO OPEN a position – opening a position BY a trailing stop order.
· Profit trigger – doesn’t matter. See reasoning above.
· Frequency – doesn’t matter. See reasoning above. We don’t have to bother with a custom stop strategy at all. First, I want to initiate a trade with the mechanics described above!!
· Chase – yes, this could be a solution, however, NinjaTrader chases only a limit buy order placed below the current market price, not a STOP market sell (or STOP limit sell) order placed below the current market price.

The base situation is the same that I have described above. The price is rising and I want to initiate a sell position BY A TRAILING STOP ORDER, so this means, until the price is rising, I want to follow it upwards, i.e. TRAIL MY SELL STOP ORDER PRICE.

[NinjaTrader_ChristopherJ]

Unfortunately this feature is not available by Default within NinjaTrader however I will forward this to our development team for future considerations.

To achieve this within NinjaTrader it would require custom programming. If you yourself are not a programmer, any of the NinjaScript consultants listed at the following link could code this project for you:

http://www.ninjatrader.com/partners#NinjaScript-Consultants

[syxforex]

Hi, has there been any advancement on this topic? Is there a developer that currently has a solution to this that is ready for purchase? Thanks

[NinjaTrader_Jason]

Hello syxforex,

Unfortunately, I am not aware if a 3rd party vendor supports such a strategy. However you can always contact any of the NinjaScript consultants at the link below to have them create such a strategy for you.

http://www.ninjatrader.com/partners#NinjaScript-Consultants