ATM: Charttrader, set profit target on total position

[pkittali]

Hi,

How do i set a profit target based on positions. Say I want to close position once profit is $100. How do I set this in ATM Strategy:ChartTrader.

[NinjaTrader_Jason]

Hello pkittali,

Unfortunately this is not supported. ATM values are based on Ticks, Price or Percent (determined by the 'Parameter type' setting in the ChartTrader properties menu).

If you select Price, you would enter the market price where you like the ATM orders to be submitted. If you would enter a value of 100, it will submit the ATM order at a price of 100.

You need to check the point value and tick size of the instrument. For example, the ES futures uses a point value of 50 and a tick size of 0.25. Parameter type is set to Ticks.

The value per tick is 50 * 0.25 = 12.5.

100 / 12.5 = 8

So you need to submit the profit target 8 ticks from your entry price to get a profit of $100.