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Is there a way while doing discretionary trading to setup an ATM that will follow an indicator? I know I can do it if I am using a strategy but I want to manually enter my trade and then let the ATM handle my exits. I think NT 8 will do this when it comes out but is there a way with NT 7? Thanks.
If you mean enter a trade and exit a trade when an indicator triggers, then yes that is possible.
You can create a strategy that has conditions that enter and exit trades with signals from the indicator.
You will need to use the ATM enter and exit coding. Ninjatrader has a sample strategy to show how to create the ATM strategy, you will need to set the parameters for your indicator.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
David;
Thanks for the response. I know I can do everything (entries and exits) from within a strategy. But, right now I want to manually enter a trade via chart trader (discretionary) and use ATM to exit the trade. As part of the ATM I want a trailing stop to stop me out when price crosses over an indicator (e.g. ATR Trailing Stop). Is it possible to have a strategy that only handles exits where entries are done via the chart trader?
After your ATM Strategy is active and running trades must be initiated by the strategy.
That allows the ATM Strategy to 'control' the trade.
You can manually move the stops and targets and even Add other targets and stops.
ATM can be manually traded using the Static or SuperDom or ChartTrader but you will need to select the ATM Strategy in the drop-down "ATM Strategy" and it will need to be the one in your coded strategy.
One caution... DON'T CLOSE a trade with the Chart Trader or the DOM. This will cause the strategy to be disabled and not take any more trades.
If you are unsure about this, you should probably just allow the strategy to trade for you. It is possible to confuse things and enter/exit trades at times that create issues. i.e. overfill or reverse when you meant to exit.
Trading this way assumes you are a better trader than the strategy you have programmed...
If that is true, trade it manually.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Thanks again David. I figured what you said was the case but didn't know if I had missed something. In my case right now, I know when I want to get out of a trade, but the rules for entry haven't been finalized yet to where I can code them. Also in addition to an entry signal, I want to look at what price action is doing at the moment before I make a decision to enter. Some very fuzzy logic going on and I need to clear the cobwebs before I code entry signals.
This is exactly what I have been trying on and off to do for some time.
1) Manually enter order long or short
2) Have Programmed Strategy take over from there.
I understand for the strategy to take over it must know the Order ID. So the strategy must initiate the order for it to have the ID. So my question for the more advanced programmers out there is Can the following be done ?
From the Strategy initiate Two message boxes ( Maybe it requires Two Strategies ), One with a button for long and one with a button for short. If the strategy gets a long message you cancel both boxes and initiate a Market order Long and vice versa.
Then it has what it needs to proceed.
So is there a way to do something like this. If so, I think its what we are both looking for.
C# is limited mostly by your imagination and your money.
But some things should not be programmed.
I don't see the need to have a manual entry when a strategy can do it much better with no hesitation or waiting for more confirmation.
It sounds like you don't have a concrete method for entry and therefore need to enter the trade manually on your 'feelings' rather than on strictly defined rules. If that is true, no amount of programming will make a successful system.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
Respectfully, I didn't ask whether anyone saw the need, or to discuss your problems with hesitation and confirmation nor did I ask for critical comments about what it "sounds like" I may be doing or reasons for doing so. I put forth a very simple Question to which on this forum , I did not receive an answer. I did however get much more than I asked for elsewhere.
I had always pondered whether to sign up as an elite member but based on these kinds of replies I am an convinced.
***NOT***
If you couldn't help then there was no need to respond.
Hey guys, I thought many of you would enjoy and benefit from this thread. My intention is to have each poster reply and describe in as much detail as possible an indicator they want created for NinjaTrader.
The programmers on the forum (there are many), …
thread? Many good and helpful people there. Just a thought...