Today’s NinjaTrader Chart of the Day revisits this market and how to utilize multiple contract ATM Strategies coupled with the NinjaTrader’s Auto Breakeven feature.
The first step to create a multiple contract ATM Strategy is to click on the ellipsis graphic from within the ChartTrader toolbar (highlighted by orange box) and an ATM Strategy Window will appear. In this example the order quantity was increased to 3 contracts (red box) and the ATM Strategy Parameters were increased to a total of 3 targets with one contract added to each target (green box). Each contract was assigned a stop loss of 6 ticks, and the profit target increased in size for each respective contract. Left clicking on the Stop Strategy dropdown menu (blue box) will bring up a Stop Strategy window allowing you to assign Auto Breakeven, Auto Trail and Simulated Stop parameters to your ATM Strategy. The Auto Breakeven feature will adjust your Stop Loss order to breakeven, which is the average entry price for the ATM Strategy position, once a user defined Profit Trigger has been reached. Thus with 5 ticks in profit the stop loss will be moved to breakeven plus 2 ticks in profit (red and green arrows respectively). This Stop Strategy was then saved as a Stop Strategy Template (right click within the Stop Strategy Window and select Manage Templates), and assigned to each Target within the ATM Strategy Window (blue box).
Left clicking the Buy Market graphic within ChartTrader will then enter the market with the newly created ATM Strategy. One can easily see each profit target and 3 stop losses displayed by the order position flags directly in the Chart!
This chart and ATM Strategy was created using the FREE version of NinjaTrader powered by the fast, unfiltered Kinetick data feed and is to be used for demonstration purposes only. Download NinjaTrader today and use ATM Strategies to take your trading to the next level!
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