Need Clarification on Simultaneous Long & Short Using Chart Trader

[InfraredBusa]

Hi,

I've seen many questions regarding the possibility of going long and short simultaneously (in my case, I'm using a Phillip account on the ES).

I've seen answers from NinjaTrader saying it's not possible and others saying it's highly discouraged. I then found an older NinjaTrader video (NT7) showing how to use Chart Trader and SuperDOM to simultaneously go short and long using different ATM Strategies.

I've messed around with this a little using the sim account and it seems to be possible to go long and short as per the video instructions.

My question is will this work on a live account without any negative repercussions from Phillip?

One answer from NinjaTrader stated:

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"Having multiple strategies running on the same instrument/account combination is highly discouraged. This is due to the fact that strategies are not aware of each other and running multiple strategies will usually cause issues with your account position.

For example, if you have two strategies running and one is in a 4 long position; if the other takes a 4 short position, both strategies will show profits/losses, but your account position would effectively be flat and you'd not be in any position at all."
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I don't really care if the strategies are aware of each other and I'm not really concerned if my account position is inaccurate while I have open positions.

I can understand how a long position and a short position could cancel each other out from the perspective of the account position, but after both positions are closed, wouldn't the account position show the final position.

For example, if I opened a long position and short position and ended up selling the long at +2 points and the short at -1 point, would my account position show the +1 point profit when all was said and done?

Thanks!

[NinjaTrader_Marco]

Hello InfraredBusa,

Thank you for your note.

Using NinjaScript, this would be as previously stated- that strategies are not aware of each other and running multiple strategies will usually cause issues with your account position.

Having said that, one of the great features of NinjaTrader is its ability to manage multiple virtual positions in the same market using ATM strategies. This allows you to manage a long and short position in the same market simultaneously.

Here is how this is accomplished:

• Open 2 SuperDOMs or 2 Charts (with Chart Trader) and set them both to the same market
• Right click in on of the order entry windows and select the menu "Properties"
• Set the 'ATM Strategy selection mode' parameter to "DisplaySelectedAtmStrategyOnly"
• Repeat the last two instructions on the second order entry window
• Submit a buy order to open a long position in the first order entry window
• Submit a sell order to open a short position in the second order entry window

In addition to these instructions, I suggest reviewing the content available in our Online Help Guide specific to this topic.

You'd want to reach out to your broker directly to ensure you are able to do such virtual positions in your account with your broker directly. If this is NinjaTrader Broker, that would be brokeragesupport[at]ninjatrader[dot]com

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