Trading with two DOMs

[sandman]

Hi.

What do I need to observe when I want to trade with two DOMs concurrently. Let's say on one DOM enter a long position for a longer term trade. On the other DOM I want to enter a short position for some quick trade. I am concerned that when entering something on the second DOM it effects the order I placed on the first DOM.

sandman

[NinjaTrader_Cameron]

Hello sandman,

We have a specific setup procedure for going long and short with the same instrument.

Here is how this is accomplished:

• Open 2 SuperDOMs and set them both to the same market
• Right click in on of the SuperDOMs and select the menu "Properties"
• Set the 'ATM Strategy selection mode' parameter to "DisplaySelectedAtmStrategyOnly"
• Repeat the last two instructions on the second SuperDOM
• Submit a buy order to open a long position in the first SuperDOM
• Submit a sell order to open a short position in the second SuperDOM

In addition to these instructions, I suggest reviewing the content available in our Online Help Guide specific to this topic.

[sandman]

Got it, thanks.

How does this change when I do not work with an ATM strategy on either DOM? I read the HELP instructions but it did not seem to cover this point.

To recap: I enter a long order - long term - on one DOM and will get back to it perhaps in a couple of hours. On the other DOM I want to utilize the short term market movements, and scalp some ticks here and there - again with no ATM strategy. Do the two DOMs still allow me to do that - or does the order placement on the second DOM effect the order running on the first DOM?

sandman

[NinjaTrader_Cameron]

sandman,

To go long and short with NinjaTrader you will need to use ATM Strategies in each SuperDOM. If you do not use an ATM Strategy going long and short in the same market will put you flat in that market.

You can, however create an ATM Strategy that uses a very high Stop Loss to allow you to use this function.

This can also be tested with the Simulated Data Feed to test the functionality of going Long and Short in the same market.

I suggest viewing the following clip from our Video Library.
ATM Strategy Selection Mode - http://www.ninjatrader.com/support/m...tion-Modes.htm

[sandman]

Got it. I am actually right now in the live market with a short order and no ATM strategy which I do not want to cancel. Based on what you say, can I still use the second DOM if I use an ATM strategy on that 2nd DOM when entering? Or would that effect the order on the first DOM if I select the "DisplaySelectedAtmStrategyOnly" ?

Sorry, I can't try this out on the simulator as I am trying to solve something right now while already being in the live market.

sandman

[NinjaTrader_Cameron]

sandman,

This can be completed however we suggest that you test this in simulation before going live so that you fully understand the behavior of this function.

You do not need to be connected to the Simulated Data Feed, but open two SuperDOMs and use the SIM101 account.

With your case, you would need to have an ATM Strategy for going short. As I had mentioned previously, your Stop Loss can be set to a high number.

Also, follow the instructions from post #2 to setup your SuperDOMs to 'DisplaySelectedATMStrategyOnly'

Again, please test this in simulation to fully understand this feature of NinjaTrader.

[sandman]

sandman,

This can be completed however we suggest that you test this in simulation before going live so that you fully understand the behavior of this function.

You do not need to be connected to the Simulated Data Feed, but open two SuperDOMs and use the SIM101 account.

With your case, you would need to have an ATM Strategy for going short. As I had mentioned previously, your Stop Loss can be set to a high number.

Also, follow the instructions from post #2 to setup your SuperDOMs to 'DisplaySelectedATMStrategyOnly'

Again, please test this in simulation to fully understand this feature of NinjaTrader.

Thank you Cameron. Everything understood. I'll try it out.

sandman

[Jim-Boulder]

Does this require 2 separate brokerage accounts?

I understand the 2 DOM / 2 ATM strategy directions below-but doesn't this require 2 separate brokerage accounts?

I've always understood that (most) brokerage accounts would not be able to accommodate 2 opposing OPEN positions (1 long and 1 short) at the same time in the same account number...

[NinjaTrader_RyanO]

Hi Jim-Boulder,

You would want to verify with your broker, but what these steps are doing in NinjaTrader are attaching an ATM strategy to separate virtual positions, as your total account position is reflected in NinjaTrader, but with the separate positions with attached ATM strategies.

The exit orders for each ATM strategy would then serve to modify your overall account position even though each ATM strategy functions independently.