ATM strategy - how to scale out with profit targets and trailing stoploss

[futurestrader0000]

How do I scale out while leaving one runner with a trailing stop loss? I will enter with 5 MES contracts and will take profits 4 contracts. I want to the remaining contract to have a trailing stop loss of 5 points from breakeven so it will never go read up against me. How can I leave the last contract as a runner? So if I ever reached 20 points in profit and it comes back down to 15 it will stop me out.

This is how i have it at the moment

[NinjaTrader_Manfred]

Hello futurestrader0000,

Thank you very much for your post.

To set up a runner, please remove the '40' from the Profit column for Target 2 - The Profit Target in an ATM strategy is optional. By only setting a Stop Loss you'd ensure that the position is open-ended and would only be stopped out.

To create the auto trail, I would suggest adding a Stop Strategy to Target 2 with the following settings:



The way this would behave is as follows:

Once 40 ticks of profit are reached (Profit Trigger: 40), the Stop Loss is moved to 5 ticks behind the current market price (Stop Loss: 5), and this is repeated each tick (Frequency: 1).

By changing the 40 to e.g. 10 you can then set at which point the Auto Trail activates. If set to 10 it would still keep the Stop Loss 5 ticks behind the current market price but would start this as soon as the target earned 10 ticks of profit. A Stop Loss setting of 5 would then indicate that the Stop Loss is always kept 5 ticks behind the market price. If the market then drops by 5 ticks, the order would be stopped out.

I would also suggest taking a look at our Auto Trail guide as part of our New User Video Guides below:

https://ninjatrader.com/Video-Guides#ATM

Should you have any further questions, please don't hesitate to let me know!