Click chart twice for entry and stop loss - calculate shares

[boykob]

Repost of a previous request:

I am looking for the same functionality to be available in NT8. E.g. I select entry and stop prices on chart and pre-define my risk per trade is $500 and my profit strategy is 25% @ 1R, 75% @ 2R and 25% @ 2.5R. NT8 should then be able create entry order quantity ($500/(entry price - stop price)), stop order and multiple profit orders based on these predefined parameters.

[NinjaTrader_Clayton]

Hello boykob,

Thank you for the message.

Unfortunately, there is no way to mix Currency and Percent parameters in the same ATM strategy. You would have to choose one or the other and do all of the Profit and Stop Targets using that parameter type.

Please watch through the publicly available videos below for a comprehensive review of setting up and using ATM Strategies:

• ATM 201
• ATM 301
• Stop Strategies Overview
• Additional Options and Strategy Selection Modes
• For more in-depth written information on ATM Strategies from the Help Guide

If the ATM Strategies do not work as you desire, you are welcome to submit your suggestion as a feature request using the link below:

• Feature Request Form

Please let us know if we may provide any further assistance.

[boykob]

Thanks!

The ATM strategies are awesome. I skimmed the ATM strategy vids but I'm not sure if they offer what I'm wondering about. It looks as though ATM strategies only provide trade management after a trade is entered as opposed to the following which would happen with an entry:

- Can an ATM strategy dynamically calculate the number of contracts to purchase based on a predefined risk, an entry price, and a stop loss price?


I'd like to enter a trade with the following steps:

- set predefined risk
- click chart where I would like to set a stop
- the chart click causes a position to be opened at market price
- (the position is opened short if the stop is above market price or long if the stop is below market price)
- the position size is determined based on the distance between market price and the stop loss
- when the market entry order executes, a stop loss for the full position is added where the chart was clicked


I place my stop losses based on intraday price action. If ATR on one day is larger, my stop distance will likely be larger, although it may not necessarily be the case if there is relatively tight intraday price action. It looks as though ATM strategies would only place a stop loss in a location independent of intraday price action (for example, at a fixed $ value)


(I went ahead and submitted a feature request, but please let me know if the above is already possible)