Position Sizing

[tommyjames]

Hi,

I'm trying to figure out if a strategy can size my position for me. Lets say I want a strategy to go long on the break of a price channel high and put a protective stop below the opposite price channel. And lets say I risk $100 per trade so the strategy would have to take the difference between my entry and stop and divide it by my risk ($100) to get my position size.

Does anyone know if this is possible in NT? I have been doing this for years in a different application but I would like to try to move this to NT.

Thanks for the help....

[NinjaTrader_RyanM1]

Hello TommyJames,

One of the strategy options is Set order quantity. You can select by Account Size here.

"by account" - Allows you to set a virtual account value that is used to determine maximum order size based on margin settings per instrument set in instrument manager.

This may not be exactly what you're looking for but you should be able to custom code your position size. There are some position sizing add ons currently available.

List of our 3rd party vendors here:

http://www.ninjatrader.com/webnew/partners_onlinetrading_3rdparty.htm

PositionSizer:

http://positionsizer.com/products

[tommyjames]

thanks for the reply. that doesn't sound like it will work. so do you know if NT can do what I described (just a simple calculation) The risk amount can be an input. Then if you can capture the entry price and stop price it's just a simple calculation to get position size.

I guess the key then would be if NT allows you to make a var = positionsize and use that during execution

[NinjaTrader_RyanM1]

Yes, you can custom program it. All the order methods allow you to specify a quantity. The quantity can be a variable from a calculated value.

[tommyjames]

Thanks for the info

[PositionSizer]

PositionSizer

Hello Tommy,

PositionSizer does do what you are asking. It is a % Risk and $ Risk PositionSizer. This means that you can if you type in the $ amount or the % amount.

You the click on the entry price then the stop price then 0(Trailing Stop), 1 or 2 Profit targets.

Your Position Size is then plotted and if you like what you see you can click the trade position button to enter the order directly to the broker.

I also have a new Scapler Version coming out soon. Below is the link to the my forum so you can check out some screen shots.

http://forum.positionsizer.com/showthread.php?31-Advanced-PositionSizer-for-NinjaTrader-7-UPDATE!&p=32#post32

If you would like to talk to me I can be reached on Skype. My user-name is PositionSizer.

Either way I wish you luck in your trading.

Daniel