Custom Strategy Parameters - TP

[Problem_Gambler]

Hi Folks - can I have some clarification on how to set a Take Profit order on an active trade?

The trade is active, and currently has a stop loss set (limit sell at price). I want to add a 100% take profit at level 12220. Do I simply put the TP price (12220) in the "profit' field? See here for a screenshot: https://www.screencast.com/t/fuF9iJio

[NinjaTrader_Manfred]

Hello Problem_Gambler,

Thank you very much for your post.

It would not currently be possible to add a profit target to an active trade, without also adding a stop loss.

I would suggest instead submitting a full ATM strategy by using the original Stop Loss' value, and then canceling the original Stop Loss order.

To submit the ATM strategy to an existing position, please select the position (e.g. in the Control Center / Positions tab), right-click it, and select "Apply ATM Strategy".

If you would submit the order as shown on the screenshot it would likely be rejected, as the price of 1 would be outside of the allowed price band.

Please don't hesitate to let me know, should you have any further questions!

[Problem_Gambler]

Oh great thanks! So just to clarify the other point (this is probably obvious?) - but do I simply put the TP price (12220) in the "profit' field, if I want the trade to sell at 12220?
The reason for the confusion is because that field starts at 1, and moves up in increments of 1, so I thought it might be something weird that I'm unfamiliar with like SD or something. But it is straight price right? I just enter the exact price I want to sell in the 'profit' field?

And after I have set the TP price, how do I edit it?

[NinjaTrader_Manfred]

Hello Problem_Gambler,

Thank you very much for your reply.

If you select "Price" as the Parameter Type, it would indeed require the absolute price you would like to submit it at. Other parameters, such as ticks, percent, or currency calculate differently.

For a full list of all parameters, please take a look at our HelpGuide below:

https://ninjatrader.com/support/helpGuides/nt8/index.html?atm_strategy_parameters.htm#UnderstandingStopLossAndProfitTargetParametershowToSetYourStopAndTargetValues

If you are uncertain whether the strategy will trigger correctly, my suggestion would be to connect to the "Simulated Datafeed". This connection allows you to control the market.

By changing the "Trend" slider e.g. to the top position, the market would enter an upwards trend. This allows you to review exactly how the ATM strategy submits and executes.

Please don't hesitate to let me know, should you have any further questions!