hard stops

[slocumtrader]

Hey All,
Did a little digging and I see this topic come up before but couldn't find a clear solution on it. I'm looking for an ATM strategy for chart trader (no automated trading) where as soon I enter a position a hard stop loss of X dollars is placed and a hard Y profit target is set as well.

The quantity of shares I enter will dictate how far that stop loss and profit target is, so basically i would just need a simple calculation on a filled order:

lets say I was looking for $100 stop loss and profit target

on order fill == true
100 / quantity = stopDistance
setStopLoss = averageEntry - stopDistance
setProfitTarget = averageEntry + stopDistance


Can the above just be coded in a ninjascript (that would show up in the ATM strategy drop down) even though i'm using chartTrader and not an automated strategy?

Any other simpler ways or other solutions to do this?

Thanks,
Evan

[NinjaTrader_Bertrand]

Hi Evan, unfortunately that's not possible - you can only code an automatic NinjaScript strategy that would call ATM template for exit management, but then everything comes from the automatic strategy, so your entry signal and trigger as well.