Scalping/scaling Strategy Question

[jer361]

Hello I am trying to learn how to set up an automated trading strategy. The focus of my system would be scalping range bound equities and would like to know if this is something I could set up using NinjaTrader. For my hypothetical example of what I am trying to do is if you have a range bound stock that trades between 8 and 9. I would like to make my inital purchase at 8.50 then place a sell at 8.54. Then continue to add to the position as in comes in every .03 and place a new sell .04 above. The maximum number would be 10 times the initial position with a stop on the entire position if it breaks 8 or out of its range. I would carry positions overnight and I would like to use limit orders to minimize transaction costs. Would this be something I could do using the strategy wizard or would I need to write the code? I thinking that the entry would be based off the opening price if no overnight position was present.

[NinjaTrader_Bertrand]

Hi jer361, welcome to our forums and thanks for the post - the wizard interface would provide a good start into the logic and syntax required for working in our NinjaScript programming language but to fully realize this more advanced strategy you would need to 'unlock' the code and then complete it into the full NinjaScript editor. To get started with this environment I would suggest reviewing those tutorials here closely - http://www.ninjatrader.com/support/h.../tutorials.htm

For some more advanced samples, this link here is helpful - http://www.ninjatrader.com/support/f...splay.php?f=30

[jer361]

Starting off

Thanks for the response. To simplify things would it be better to start with a single trade that loops? Than I could replicate the trade a different price point. For example Buy 1000 @ 8.50 limit. If filled sell 1000 @ 8.54 limit stop loss 8. If filled 8.54 buy 1000 @ 8.50. if filled at 8 close loop. After that set up a loops @ 8.47,8.44....8.23.

Would this be something that could set up with the wizard interface? It seems if I'm going to teach myself to program it would be easier to start with basic trades then build to a more complex strategy. Ultimately I would like it to run long/short on a mean reversion but that looks like it would take a skill set greater than mine.

[NinjaTrader_Bertrand]

jer361, unfortunately realizing those interrelated price point entries and reactions based on the fill events of each order, you would already be looking at custom coding to achieve your goals here. For working in the OnExecution() method to gain access to the invidiual fill events for each order, please check into this dedicated example we have - http://www.ninjatrader.com/support/f...ead.php?t=7499