Need Guidance On ATM Strategy

[maxreturn]

Hello Guys. I have a couple of questions:

1) I have an ATM strategy set up which moves my stop to breakeven minus 6 ticks when a profit target of 18 ticks is reached. What I want to do next is move the stop to breakeven when 24 ticks is reached and leave the stop there. I can't figure out how to do this.

2) On occasion instead of exiting my existing position I will want to reverse my position. For example, right now I'm trading two contracts. If I'm long two contracts and want to reverse my position I will need to short four contracts to close out the 2 longs and be short net 2 contracts. Even after going through your help files I'm a little unclear on what I need to do to get this accomplished. Thanks for your help

Best Regards
Chuck

[NinjaTrader_Kyle]

Hi Chuck,

Thanks for posting.

1.) You should be able to set this with an additional auto-trail stop strategy.
If I understand you correctly, the parameters to use would be:

• Stop Loss: 24
• Frequency: 999
• Profit Trigger: 24

2.) If this is something which you can anticipate doing before entering the position, you could use the automatic reversal features available in ATM strategies.

Please right click in the window where you're configuring your ATM strategy and select 'Advanced Options'. From here, use the 'REV at Stop' or 'REV at Target' buttons to program the reversals.

If this is not something which you can anticipate doing before entering the position, perhaps the REV button would be an option for you. You would need to trigger that reversal manually, but it may meet your needs.

[maxreturn]

Hi Chuck,

Thanks for posting.

1.) You should be able to set this with an additional auto-trail stop strategy.
If I understand you correctly, the parameters to use would be:

• Stop Loss: 24
• Frequency: 999
• Profit Trigger: 24

2.) If this is something which you can anticipate doing before entering the position, you could use the automatic reversal features available in ATM strategies.

Please right click in the window where you're configuring your ATM strategy and select 'Advanced Options'. From here, use the 'REV at Stop' or 'REV at Target' buttons to program the reversals.

If this is not something which you can anticipate doing before entering the position, perhaps the REV button would be an option for you. You would need to trigger that reversal manually, but it may meet your needs.

Hello Kyle. Thanks a lot. Question...When I do reverse a position it is because a pattern has set up in the opposite direction. I know exactly at what price the the pattern will complete so I would place a stop limit order at that level to get my existing position flat and establish a new position in the other direction. I'm not sure which of the two above approaches you outlined above would be compatible with what I'm trying to do. I would appreciate your expertise. Thx

Chuck

[NinjaTrader_Kyle]

Hi Chuck,

Would you know that you'd be reversing before entering the original position?

[maxreturn]

Hi Chuck,

Would you know that you'd be reversing before entering the original position?

Hardly ever. Sometimes I know at what general price level I'll be looking for a pattern to set up and if it does, would execute a trade. But sometimes I'll look to exit a trade based on other factors before that level is reached. I would say I reverse a position maybe 30-40% of the time.

[NinjaTrader_Kyle]

Hi Chuck,

Thanks for clarifying.

If this isn't something you typically know before entering the trade, then the REV button would need to be used. Alternately, you could place a pending order which would act to enter the new position, then manually move that pending entry order as the need arises.

[maxreturn]

Hi Chuck,

Thanks for clarifying.

If this isn't something you typically know before entering the trade, then the REV button would need to be used. Alternately, you could place a pending order which would act to enter the new position, then manually move that pending entry order as the need arises.

Hello Kyle. I tested the "REV" button which pretty much accomplishes my objective with one exception. I usually know a bar or so in advance the exact price I want to reverse my position. It would be nice if there was a feature where when using the "REV" button you could specify an exact price at which to reverse. When testing the "REV" button as price hit my level I always experience slippage of 1-2 ticks depending on how fast the market was moving. If an exact price can't be specified using this feature could I set up another ATM to reverse my position at that exact price? Thanks for all your help.

Chuck

[NinjaTrader_Kyle]

Hi Chuck,

The REV button won't allow for you to specify a price. You could set up a second entry order and place that entry order at the same price as the stop - that would definitely work, but I'd reccomend that you test it out in simulation a few times before bringing it live.

[maxreturn]

Hi Chuck,

The REV button won't allow for you to specify a price. You could set up a second entry order and place that entry order at the same price as the stop - that would definitely work, but I'd reccomend that you test it out in simulation a few times before bringing it live.

Kyle, is there a "suggestion box" where I can request this feature? It would make my life much easier. I'm not real clear on what you mean by "place that entry order at the same price as the stop". Just to give you a clear picture of what I'm trying to do; my atm is set up for two contracts and does the following...The 1st contract is exited at a profit target at which time the stop is moved to BE on the remaining contract. There is no trailing stop. Instead I look to take that position off when reversing my position. So my thought was to set up another ATM for three contracts. One would cancel/close out the existing position and then a new two contract position would be established in the other direction at my specified price. Does this make sense?

Best Regards

[NinjaTrader_Kyle]

Hi Chuck,

Yes, we take any suggestion you may have. I'll forward this one on to development for further consideration.

What you describe is essentially what I was trying to point you towards.