Single Entry, Multiple Exit via ATM

[traderji]

Two part question in regards to trading Forex using chart trader and ATM to manage profit targets and stop losses. Using Interactive Brokers.

Question 1 - When I configure a ATM strategy with a 3 target scenario and I open a position, ninjatrader seems to place 3 separate orders for the entry instead of 1 large order. This triples the commission I pay for entry. For example, I want to go long EURUSD for 0.12M using a ATM strategy that has 1st Target quantity of 50000 and remaining 2 targets of 30000 each. Instead of entering the position with a single order of 0.12M, NT places 3 orders of 50000, 30000 & 30000. Each entry costs me $2.90 in commission. I end up paying $8.70 in commission rather than just $2.90. How can I stop NT from doing this?


Question 2 - How do I partially close a position?

[NinjaTrader_Kyle]

Hi traderji,

Thanks for your post.

To look in to issue 1, I'll need you to provide me with a copy of your log file from the last date you saw this type of fill. Please attach that file to a note to Support [AT] NinjaTrader [DOT] com and include a link to this forum thread.

You will find the log in the Documents > NinjaTrader 7 > Log folder.
The files are named by date in a 'log.YYYYMMDD.txt' format.

[MaxPower3000]

I have a similar issue. I trade FX using ATM strategies. My strategies include stop loss and take profit. Instead of placing this on MB Trading as one order, NT places two orders - one for the trade and stop loss and another for the take profit. This causes my margin to be doubled. Apparently the interface with MBT doesn't understand how to use their TTO trade type. With my InteractiveBrokers account NT would need to place a single order using their Bracket Order trade type. What can be done to get around this limitation. With MBT my commission is not affected but with IB it would be doubled.

[NinjaTrader_Kyle]

Hello MaxPower3000,

Thank you for your post.

The stop loss and the profit target must always be two separate orders - it's not possible to place a single order at multiple prices.

[MaxPower3000]

Hi Kyle,

Placing a trade at MB Trading using their software provides the ability to place one trade with a trigger to open the trade, a trigger to close the trade at a predefined profit and a trigger to close the trade at a predined loss (should the market move in the opposite direction) - all of which incur a single trade margin. What is currently not possible is to use NT to place such a trade. The question is what needs to be done to have NT make use of the trade type provided by MBT. Is there a limitation in the API provided to NT by MBT, or is NT just not taking advantage of a function the API does provide.

[NinjaTrader_Kyle]

Hello MaxPower3000,

Thanks for clarifying.

As it stands, you will always see orders placed through ATM strategies act as you've outlined. I will, however, forward the other information on to development for further consideration as a future addition. Thanks for bringing this up.