Scaling out with Ninja Trader

Discussion in 'Trading' started by shortbleu, Aug 17, 2011.

  1. Say you clip 2 futures contracts at a time to enter a long position, you set up the same stop loss level for both lots. Say your trade turns into profit territory and you want to scale out your exit (i.e. you exit the first lot when you reach target 1 and you exit the second lot when you reach target 2).

    Question: With Ninja Trader, how do you move up your stop loss to breakeven on the second lot once you've been filled on your first lot (target 1 has been reached and FILLED)?

    I don't know how to move up the stop loss for the second lot once the first lot has been FILLED.

    I know how to move up the stop loss on the second lot once a certain level has been TOUCHED but it does not mean I have been FILLED on the first lot at that level because I am in the queue and to get a fill, I need a certain amount of contracts to be traded at that level before my position in the queue is reached and get the fill.

    I do not want to move up the stop when a certain level is touched, I want to move up the stop only if my first lot has been filled.

    When I open a Ninja trader DOM window, at the bottom, in stop strategy, I can use "autobreakeven (ticks)" to move the stop once a level has been TOUCHED, if target 1 is at this level, my first lot may not have been filled depending on my position in the queue.

    How do I move the stop upon a FILL condition instead of a PRICE TOUCHED condition?

  2. Just had another look at the Ninja trader videos library and I believe that what I am looking for cannot be done in ninja trader.
    You can only move the stop based on a price touched condition rather than an order filled condition as far as I can see.

    If someone managed to move a stop based on an order filled condition, please let me know.
  3. Are you autotrading? If so, look up the "IOrder" sample code on the NT forum (or ask NT support to help you find it). It can be done, but you'll need to code it yourself, or get someone to do it for you.
    Good luck!
  4. Buy1Sell2


    Both targets should be target 2. Why rob yourself of the profits between 1 and 2?
  5. Lornz


    Although not exactly the same, you could enter 1 tick higher than your target, then you would be guaranteed a fill.