FX with half pip increments

[astrolobe]

I have my forex charts set to half pip increments for IB. When I want a 50 pip stop in the ATM Strategy I need to specify the stop as 100 pips because it is in half pip increments.
Am I missing something here??
If this is the correct way of doing it, then we are really saying that the stop loss is not in pips, but whatever the lowest increment variation is on the chart. This is NOT intuitive.

If I want a stop of 50.5 pips then I should be able to just enter 50.5, not 101.
(I know the ATM Strategy dialog says "ticks", but there must be a better way. I could change my charts to Pip increments, but then I am losing granularity when I shouldn't have to.)

Is there a good reason for this behaviour?

[NinjaTrader_Kyle]

Hello astrolobe,

Thank you for your post.

By setting NinjaTrader to use the half-pip setting you've removed the need to make any such modification.

In terms of forex trading within NinjaTrader in general you could think of the term 'tick' as being equal to 'pip' or 'smallest base price increment'.

This being the case, you should not need to make any modifications to your order quantities or stop/target prices.

[astrolobe]

Kyle, I am not exactly sure what you are saying, but when I calculate my money management for a trade, it is in pips, not ticks. In the ATM Strategy dialog it is in ticks. Therefore, all my stops and targets in that dialog must be doubled if forex is set to half pips.

[NinjaTrader_Kyle]

Hi astrolobe,

To be more clear, what I mean is that you do not need to double any figures as you currently are; no special compensations of any kind are required.

Within the NinjaTrader software, you can consider the term 'tick' equal to the term 'pip'.

When configuring ATM strategies using the 'ParameterType=Tick' setting you will be configuring ATM strategies based on number of pips.

For example, with the above setting in place, a stop loss setting of '50' would result in a stop being placed 50 pips from the average entry price.

[astrolobe]

Kyle, I think we are referring to different things here. I am referring to the dialog that pops up when you enter a ATM Strategy from within Chart Trader.
I don't see any 'ParameterType=Tick' in that dialog.

[NinjaTrader_Kyle]

Astrolobe,

Please provide an image of the component which you refer to.

The 'Parameter Type' option is something you'll find by right clicking in the Chart Trader side bar and selecting 'Chart Trader Properties'.

The property's name is 'Parameter Type', the correct setting is 'tick'.

[astrolobe]

This is the dialog I am referring to.
For example, if "Quote currencies (FX) in: = Half pips", and I determine that my stop must be 25pips (not ticks) for my trade.
Then in the attached dialog must have the stop loss field = 50 pips.

[NinjaTrader_Kyle]

Hi Astrolobe,

Thanks for clarifying.

We are referring to the same item, this was just what I was referring to; when placing a stop 25 pips back, you would use the setting '25' not '50'. The quote currencies in setting has no application here - you need not double your figures.

[astrolobe]

Kyle, in reality this is not what is happening. If I enter 25 for stop loss in the dialog, then when the trade is filled, the stop loss on the chart is 12.5 pips. Have you actually tested what I am saying?

[astrolobe]

Kyle, in reality this is not what is happening. If I enter 25 for stop loss in the dialog, then when the trade is filled, the stop loss on the chart is 12.5 pips. Have you actually tested what I am saying?

In the same manner, if FX is quoted in tenth pips, then if you want a 25 pip stop in the ATM Strategy dialog, you need to enter the 25 pip stop as 250 , i.e., 250 ticks.

As you can see the dialog wants the stop loss in ticks...but this tick figure will change depending what you have set in the Data tab in the Options.

[NinjaTrader_Kyle]

Hello astrolobe,

Please follow up with me via email (Support [AT] NinjaTrader [DOT] com)

In your note, include:

1.) A link to this forum thread.

2.) Your log file which would include an example:
Log files are found in the Documents > NinjaTrader 7 > Log folder.
Log files are named in a 'YYYYMMDD' format - today's file in my timezone for example would be named 'log.YYYYMMDD.txt'.

3.) An outline of the ATM settings you used for the order example.

4.) A way to identify that order - for example, 'Order ID' or the execution time of the entry order.

[newbie0101]

Hi astrolobe and NinjaTrader_Kyle
what was ever determined here. I am charting using MBtrading feed and same scenario as astroglobe.

[NinjaTrader_Kyle]

Hello newbie0101,

When using a half pip setting (as you should be with your broker) you will need to adjust your ATM Strategy settings in tandum - for instance, when setting a 25 tick stop, use the value 50 and so on.