Stop Loss Issue

[RCARL1962]

Consider this scenario....Lets say I sell 1 contract short at 3600 and I use an ATM that sets a buy stop at 3605. Then I add one more contract short. If I use the same ATM it adds another buy stop 5 point above the new short. Then I add 1 or 2 more contracts short and I have a whole bunch of buy stops stacked up when all I want it a single stop that I can move as the trade goes my way. If the trade goes against me I want to close out of all shorts.

Is there a way to make an ATM trade where instead of adding a new stop to every contract that is added it just increments the number of contracts to the existing stop order? There doesn't seem to be a way to quickly edit and add contracts to the existing stop. What I'm doing now is just creating a buy order for 2 if I am short 2. If I add another contract short making 3 short, I delete the buy order for 2 and create a new one for 3. That said, I haven't been using stops as much as I'd like to because it's easier to just hit the close button when things go sideways.

Ideally I would just like to place a close stop order instead of a buy or sell for each contract. If it hits the stop, I just want to close any open trades at market.

Is this possible?

[NinjaTrader_JustinD]

Hello RCARL1962,

Thank you for your message.


Yes, if you right-click in the Chart Trader or SuperDOM you are trading from and select 'Properties', you may change the ATM Strategy Selection Mode from 'Keep select strategy on order submission' to 'Select Active ATM Strategy on order submission'. This will submit any additional contracts you add to your position to your existing Stop Loss and Profit Target orders rather than placing separate stops and targets for each contract you add. To have this automatically applied to future Order Entry windows you create, select preset > save at the bottom of this Properties window.

A complete overview of this and other ATM Strategy Selection Modes may be read here in our NinjaTrader 8 Help Guide.


Please let us know if you have any additional questions.

Sincerely,
Justin D.