Hey guys,
Some of you may have already figured this out as I did but I noticed some questions where some still didn't know. The posts were already locked to where I couldn't reply so I'm making a new one.
This is for those that use an ATM Strategy and have a stop loss. So instead of using your mouse you can use a hot key to adjust your stop loss.
Step one is to right click your chart trading window and click OCO Order so when your new adjust stop is triggered all the others are cancelled.
Next you want to go to your Order Entry Hotkey setup and go to the bottom for Custom orders and we will have to add two.
One to adjust the stop to sell and one to adjust the stop to buy.
Action will be to buy or sell - select the one your building.
Type will be MIT *Edit - Can be market or stop limit, up to you. Sometimes NinjaTrader will block the order saying you have one open. With MIT that has never happened to me.
Limit Offset - Left alone
Price will be Bid or Ask / Plus or minus however many ticks you want.
Record your hotkey.
Example: If I bought a contract, my stop is to sell. So for me I have my Price: Bid Minus 3 ticks.
If I sell a contract, my stop is to buy and it's Bid plus 10 ticks.
You have to play with it in market replay to get the stop to land where you want as to not trigger too soon.
The faster price moves you may have a couple of orders out there... your original stop and your adjusted buy/sell orders. **Very important to make sure you have OCO orders on so they all cancel once one is triggered or you will end up in a bad way.
Here you can see my original sell stop in red and my adjusted stop in green.
Hope this helps traders!!
Good luck
Some of you may have already figured this out as I did but I noticed some questions where some still didn't know. The posts were already locked to where I couldn't reply so I'm making a new one.
This is for those that use an ATM Strategy and have a stop loss. So instead of using your mouse you can use a hot key to adjust your stop loss.
Step one is to right click your chart trading window and click OCO Order so when your new adjust stop is triggered all the others are cancelled.
Next you want to go to your Order Entry Hotkey setup and go to the bottom for Custom orders and we will have to add two.
One to adjust the stop to sell and one to adjust the stop to buy.
Action will be to buy or sell - select the one your building.
Type will be MIT *Edit - Can be market or stop limit, up to you. Sometimes NinjaTrader will block the order saying you have one open. With MIT that has never happened to me.
Limit Offset - Left alone
Price will be Bid or Ask / Plus or minus however many ticks you want.
Record your hotkey.
Example: If I bought a contract, my stop is to sell. So for me I have my Price: Bid Minus 3 ticks.
If I sell a contract, my stop is to buy and it's Bid plus 10 ticks.
You have to play with it in market replay to get the stop to land where you want as to not trigger too soon.
The faster price moves you may have a couple of orders out there... your original stop and your adjusted buy/sell orders. **Very important to make sure you have OCO orders on so they all cancel once one is triggered or you will end up in a bad way.
Here you can see my original sell stop in red and my adjusted stop in green.
Hope this helps traders!!
Good luck
