Order of Execution: ATM Strategy Stop-Loss

[i2w8am9ii2]

Hello,

I'm trying to find out how this works...

I have ATM Strategies with a stop-loss of $75 per contract.

Say if I entered long 1 futures contract at 100 in a market. Then say I added 1 long futures contract at 120, another 1 futures position at 130 and 1 more long contract at 140.

Then say the price went up to 150 and I used a Limit Order to exit 3 of the 4 long positions.

Would the remaining contract be the one that I entered at 100, or the one I entered at 120, 130, or 140?

Please let me know.

Thanks,

[NinjaTrader_Jason]

Hello i2w8am9ii2,

NinjaTrader uses an average entry price when you scale into positions. The 'Use FIFO for position avg. price calculations' setting at Control Center-->Tools-->Options-->General-tab is important upon calculating average position price.

If 'Use FIFO for position avg. price calculations' is unchecked and I enter the market at the following two prices

1285
1284

Average entry price

1284.5

Subsequently, I scale out 1 contract and the following position price is reflected.

1284.5



With 'Use FIFO for position avg. price calculations' checked

1285
1284

Average entry price

1284.5

Scale out 1 contract

1284

The exit order is paired to the 1285 entry order and leaves you with a position at 1284. As per your example, your position price would be 140.

[i2w8am9ii2]

Thanks for the info Jason,

Would there be any way that I could set it up so that the remaining contract is the one I entered at 100 or 120 (in my example)?

I want to be able to let my winners run, and with the setup you describe as I understand it, that would not be possible.

[NinjaTrader_Jason]

Unfortunately this is not supported. With 'Use FIFO for position avg. price calculations' enabled, it will pair executions based on "first in, first out".