Need help please.

[silverpuma]

I have used the ATM before so I have a basic but reasonable understanding. Still I need some help;-)

I'm using MB Trading and only on forex.

I want to scale in to position to my maximum % risk. So say for example I'm going long on the eur/usd I want to have a ATM that places the following orders:

buy $10,000 @ 1.3800
buy $20,000 @ 1.3780
buy $40,000 @ 1.3760
buy $80,000 @ 1.3740
Stop loss @ 1.3720 (so a stop loss of 80 pips)

A profit target of 80 pips @ $10,000 or 1.3880 (entry price of 1.3800 + 80 pips)

But once I move in profit when one or more of my entries are triggered by 20 pips my stop loss moves to +10 pips so locking in 10 pips of profit. Then the remaining unused entries are automatically cancelled once either my target or stop loss is hit.

I am assuming that say price moves against me and triggers 3 of my entries ($10K + $20K + $40K = $70K) that the profit target will auto reflect my new position size so my target changes to $70,000 instead of the initial $10,000. Is this correct?

I hope I'm making sense.......!!!!

[NinjaTrader_RyanM1]

Hi silverpuma,

For scaling into a position using ATM strategy, please review your options for ATMStrategySelectionMode.


You can either have one overall position and then subsequent stop loss and target orders are placed at the same initial level (Select Active ATM Strategy on Order Submission) or each scaled in entry will have its own target and stop loss orders. (Keep Selected ATM Strategy Template on Order Submission).

[silverpuma]

Thanks Ryan, I've listened to the videos and they are helpful. But when I try to build my strategy using "custom" I can only get 3 targets for my scaling in whereas I need 4. I want to have 4 possible entries as I scale in to my position and then a stop loss and 1 profit target.

Is 3 the max entries I can have? Thanks..........

[NinjaTrader_RyanM1]

Correct, only 3 targets are possible with ATM strategies. Unfortunately 4 is not available at this time.