Hello, does Ninjatrader 8 desktop have a way for me to add to a trade as the market is moving in my direction, by automatically setting a pending order at the increment I want using ATM or some other function?
I have a simple ATM that sets a stop loss at 10 points and a take-profit at 20 points. Once I enter an initial long trade, I quickly manually enter a pending buy stop order at 5 points higher than the initial trade's entry price. What I would love to figure out how to do is have that trade management plan set up before I enter the initial trade, so that when I enter the initial trade, I can simultaneously / automatically enter a buy stop order at +5 points from the initial long trade's entry price, or a sell stop order at -5 points from the initial short trade's entry price, maintaining the same stop loss and take profit levels from my ATM.
My objective in doing this is to add to a winner in the exact same way each time and being quick in case the market is moving quickly. Currently if the market isn't too fast, I can easily add the stop order manually at + or - 5 points. But if the market is moving quickly in my direction it is difficult to be fast enough to add the stop order at where I want to add it and often times I am a bit early or a bit late because I didn't get the price exactly right.
Hopefully that makes sense. It is a simple proposition in theory but I haven't figured out how to do it in the platform. If it is not possible that's okay I'll just keep doing it manually - just wanted to check and see if it's possible.
Thanks for your help!
I have a simple ATM that sets a stop loss at 10 points and a take-profit at 20 points. Once I enter an initial long trade, I quickly manually enter a pending buy stop order at 5 points higher than the initial trade's entry price. What I would love to figure out how to do is have that trade management plan set up before I enter the initial trade, so that when I enter the initial trade, I can simultaneously / automatically enter a buy stop order at +5 points from the initial long trade's entry price, or a sell stop order at -5 points from the initial short trade's entry price, maintaining the same stop loss and take profit levels from my ATM.
My objective in doing this is to add to a winner in the exact same way each time and being quick in case the market is moving quickly. Currently if the market isn't too fast, I can easily add the stop order manually at + or - 5 points. But if the market is moving quickly in my direction it is difficult to be fast enough to add the stop order at where I want to add it and often times I am a bit early or a bit late because I didn't get the price exactly right.
Hopefully that makes sense. It is a simple proposition in theory but I haven't figured out how to do it in the platform. If it is not possible that's okay I'll just keep doing it manually - just wanted to check and see if it's possible.
Thanks for your help!
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