Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I need your help. I am new to trading as well as using ninja trader 8 , and I am struggling with understanding the ATM set ups. I have spoken to nt8 help desk but they can't help me building this set up because it would be considered a trading advice. I am very frustrated because the customer service is not helpful and I've spent many hours watching youtube videos but without much luck. Could some one help me please?
This is what I would like to do: I want to create an ATM strategy that can scalp 2 ticks and then move my stop so I do not lose any money. I do not want to break even. I just want to keep my profit.
I was told to use trailing stops but I just don't get it how to do it, so that every time after the ATM scalps 2 ticks, I secure the profit and if I get stopped out I don't lose any money and keep my profit of 2 ticks. The whole idea is the process to keep going until I get stopped out.
Thanks so much in advance. I am very grateful.
cskafan123
Can you help answer these questions from other members on NexusFi?
This is absolutely impossible, because every time your trade is 2 ticks in profit you'll need to move your stop to exactly the same level, which will immediately stop you out....so you'll always get a maximum of 2 ticks profit, because the trade will be closed immediately.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
NinjaTrader ATM will do anything you tell it to. Give me the exact specifics and I'll create an ATM template for you.
--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Sorry if I wasn't clear enough. You said that you don't want to get stopped out at break even.
So if the trade is two ticks in profit and your stop moves to let's say break even +1, you probably will get stopped out at this level, just because even a very slow market will move at least a tick or two in the opposite direction before it picks up your favorite direction again....so chances are not very good that the trade will evolve further because there is absolute zero wiggle room for the trade...
Hope this helps.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
JonnyBoy Thanks so much! I am not sure how realistic this would be, but here is an example of what I would like to see with ATM:
Example: The current price is 3200 and the market is in an up trend.
1. I enter at 3200
2. At 3200.50 ATM automatically secures a profit of 2 ticks and moves my STOP to 3200.50
3. At 3201 ATM automatically secures another profit of 2 ticks and then moves the STOP to 3201.
This process repeats until my Stop target is reached.
Okay, this is easy to do in the ATM. How many contracts are you trading? What are your ultimate profit targets for these contracts?
However...
I'll tell you now that this is untradeable because you are moving your stop (on the remaining contracts you have open) to the current traded price, and provided that is the price trading when this move happens you will get executed and you stop will be filled. STP orders are held on your computer meaning that as soon as that order is touched it will get executed.
In addition, this is not in any way a good way to handle an open position. If you know this already and this is just for experimentation, then I'll do it no problem.
--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
You know as a beginner I really have no idea what works and what not. You guys were very kind to respond and tell me that, so I suppose there is no really a good reason for me to ask you to waste your time and create something that will not work.
I am just looking for a way to make small profits by scalping 2 ticks without loosing much money. I would like to use 10 contracts so 250 dollars (ideally 500 if I get a point) can be achieved if the trend is strong. There is no set up price that I am looking to exit. As long as the trend moves up and the ATM can scalp few ticks and move my stop loss close to the entry price I would be happy.
Btw, I am open to any suggestions. I sure can use an advice on what to set up in ATM to handle an Open position and get better profits.
Hey man, we're all in this trading thing together and most of us have been there and done that, hence our constructive comments.
What I will do for you is create an ATM that will;
Enter 10 contracts. Locate a single contract (for profit) every 2 ticks. Essentially your last contract will be located 20 levels/ticks of DOM from your entry location. I'll locate your stop 20 ticks from your entry and get it to trail by 4 ticks for every 2 ticks of price movement in your direction.
I am not saying from a trading perspective this is a good or bad thing in terms of risk/reward, but if it gets you a bit more familiar with how the ATM works, you can branch out further by yourself and adjust accordingly.
--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
