NT8: ATM strategy that scales out based on how many contracts I have on

[LenovoX1E]

Is there a way in the ATM settings to make it so that the more contracts I put on, the higher up on the ladder the take profit stops get placed automatically?

Here is an example:

I buy 1 lot, an ATM strategy will place the take profit stop 5 points above my entry price.

I buy another 1 lot, then I want the ATM to place another profit stop 7 points above my entry price.

I buy another lot (3rd lot), the ATM strategy will place the take profit stop at 10 points.

So now I should have a profit stop 5, 7, and 10 points above the average entry cost.

Thanks

[NinjaTrader_Spencer]

Hello LenovoX1E,

Thank you for your post.

To clarify, are we assuming the market price is moving in profit when placing the new bracketed orders?

Ex. original entry price of 100 and a Profit Target at 105, then at a market price of 102 (2 ticks of profit) you place another profit Target at 107.

[LenovoX1E]

No, it would be a strategy based on scaling in as it goes against me.

So for example:

I buy one contract at 100, it automatically puts a take profit at 105.

I buy another contract at 98, it automatically puts a take profit at 107.

I buy another contract at 96, it automatically places a take profit exit at 109.



Also, another question... if I manually enter 5 contracts at 100, and I set a stop at 95. Then I scale out of the position successfully and I have 0 contracts on left, is there a way for the platform to automatically remove that stop below at 95 once it detects I have no contracts remaining?

[NinjaTrader_Melissa]

Hello,

Thanks for the reply.

What you describe would only be possible with 3 separate ATM Strategies, or an automated NinjaScript strategy.

With ATM Strategies the Profit Target is a set, fixed number. If you entered at 100 for the first contract with your Profit Target 5 points above your entry, if you used the same strategy for entry 2 at 98, your Profit Target would be set to 103 if you use the same strategy, because with the specified strategy your Profit Target would automatically be 5 points higher than your entry price.

If you had 3 different ATM Strategy templates saved, you could use the ATM Strategy drop-down menu to select strategy 1 for entry 1, strategy 2 for entry 2, etc.

Alternatively, as I mentioned it would be possible to program all 3 entries in one custom NinjaScript strategy. If you have a programming background, our NinjaScript team may provide you links to samples which would help you write the strategy yourself, or we can provide you with resources to find a programmer to create the strategy for you.

Finally, for your last question, ATM Strategies use OCO order handling, if the original entry order is closed the Stop Loss should be automatically canceled.

Please let us know if you have any further questions.