New feature request : add standalone trailing stop to Chart Trader.

[jtrade]

From time to time I have to leave a live trade in progress & it would be really convenient to be able to cancel the current ATM orders and place a simple trailing stop on the chart,as you can in TradeStation and quite a few other platforms. Please propose to the development team.

[NinjaTrader_Kate]

Hello jtrade,

Thank you for your post.

This is actually possible in NinjaTrader 8! Please note, however, this would not be possible if you are using NinjaTrader 7, as in NT7 ATM strategies cannot be applied to an open position.

To achieve this, you'd need 2 configured ATM Strategies, the one that gets cancelled, and the one that will control your trailing stop.

To set up the trailing stop, you could configure something like the attached screenshots.

In this case, I have 1 contract, an initial stop loss of 5 ticks, and I've set my profit target to 0, because I don't need a profit target. I've also set a stop strategy using a 1 step autotrail with my stop loss also set at 5, a profit trigger of 1, and a frequency of 1.

As written, this will set the initial stop loss at 5 ticks. For every 1 tick in profit after it is applied, it will move the trailing stop up one tick.

If you have an open position, you can cancel your initial ATM. Once cancelled, go to the Positions tab in the Control Center. Right click on your open position and select "Apply ATM Strategy", then select the name of the ATM you've set your trailing stop on. The trailing stop will be applied.

Please let us know if we may be of further assistance to you.