Help with 2-part Stop Loss?

[Chapter7]

Suppose I am going long on /ES for 10 contracts.
- I'd like my immediate stop loss to be -1pt as soon as my Buy Order is filled.
- I'd like a Stop Profit Target for only 5 of the contracts to be +1pt.
- As soon as those 5 are filled/exited at the +1pt profit, I'd like for my Stop Loss to move up to also +1pt from the entry for the remaining contracts.

I see the custom stop option in NT, and have a simple stop limit setup for -1pt, and then I'm manually moving my stop up for the remaining contracts once I hit my profit target. I'm just not quite sure how to do that automatically as soon as I enter the trade?

I appreciate any help you guys can give!
Thank you!

[NinjaTrader_Marco]

Hello,

Thanks for your post.

You would want to set up a custom stop strategy and use the Auto Breakeven Feature with a value of Plus 1 (if calculating using Points in the ATM settings, otherwise you'd use the number of ticks to create a point, for example 4 ticks on the ES is 1 point) but I would not set the Trigger setting to 5 (which is as soon as the profit target is filled for half the contracts) because then immediately the stop would fill because it would be moved to the current price and would fill, so make sure to leave a buffer whenever moving a stop order closer to the market price to ensure it does not instantly close.

More information can be found below in our Help Guide article regarding this topic:

https://ninjatrader.com/support/helpGuides/nt8/NT%20HelpGuide%20English.html?auto_breakeven.htm

Please let me know if I may be of any further assistance.