ATM Strategy that adds contract(s) to a profitable trade at a defined Profit Target

[NoVATrader]

I am testing a strategy that requires me to manually move a pending, single contract SLM as price action moves. Ideally, if my SLM is filled I would like an ATM strategy that adds 1-2 contracts to the position automatically at a certain profit target (e.g. 10 ticks). The initial position would remain open, and additional SLMs could potentially follow. My intention is to control risk should the initial one contract trade prove to be a loser; and add to a position that has demonstrated a certain amount of profit, and is likely to continue trending into additional profit (scaling into position). I understand the ATM can close portions of an existing order (e.g. initial order was 5 contracts, closing defined amounts of total order at certain profit targets).

I know that I could manually place an additional order below/above my first contract (e.g. 10 ticks below a sell order) however I would have to manually move this SLM in addition to the first order as price action moved. This would become a huge problem if I were to add a third or fourth SLM to this strategy.

Is there a method native to NinjaTrader to automate this task, or am I looking at a custom ninjascript?

Thanks

[liquid150]

I can't think of a way to do this with an ATM. Sounds like you need to program this.

[NinjaTrader_PaulH]

Hello NoVATrader,

Thanks for your post and welcome to the NinjaTrader forums!

I would agree with member liquid150, it would need to be written as a strategy. You would be able to do this in Ninjascript.

If you would like to create this yourself we can provide references links to help get you started with Ninjascript which is based on C# programming language.

Please note that we do not provide code writing or debugging services and if you would like your strategy created for you, we can provide references to 3rd party Ninjascript strategy coders that can provide that service.