Advanced Trade Management: Multiple Targets & Exit Order Types
NinjaTrader’s Advanced Trade Management (ATM) strategies help manage positions with predefined stop loss and profit target levels. These versatile strategies can be modified to accommodate trades of any quantity and can include as many stop loss and profit target levels as the position allows.
Learn how to create a multi-target ATM strategy in this 2-minute video:
ATM Strategy Interface
The Custom Strategy Parameters window is used to configure ATM strategies to your individual preferences:
- Order quantity: The initial quantity used for the entry order. When the saved ATM strategy template is selected, this quantity will autofill in your order entry window.
- Parameter type: The unit used for defining where the stop loss and profit target will be placed.
- TIF (Time in Force): The duration to keep the order active before it is either filled or cancelled manually.
- Quantity: The quantities for the stop loss and profit target orders. The sum of the quantity fields should add up to the total order quantity at the top.
- Stop loss: The distance or value behind the entry price which determines where stop loss orders are placed.
- Profit: The distance or value ahead of the entry price which determines where take profit orders are placed. Note: Entering a 0 in these fields will result in a “runner” where only the stop loss order can close the position with an ATM strategy.
Multi-Target ATM Strategy Tips:
- Make sure to distribute the total position across your stop loss and profit target levels.
- The ATM strategy template will save this value and will autofill the quantity when ATM template is selected from an order entry window.
- Leaving 0 for a profit target means it is a “runner” and can only be closed with a stop loss order.
Apply an ATM to an Unprotected Position
To apply a saved ATM strategy template to a position with no exit orders, follow the instructions below.
- Navigate to the Positions tab of the Control Center.
- Right-click the unprotected position.
- Click Apply ATM Strategy and then select the desired template to use for that position.
Interactive Training Resources
NinjaTrader is designed to be used by all levels of traders from novice to expert. Workspaces, charts, templates, watch lists, and more can be customized to your trading style and approach. Our New User Video Guides provide quick tutorials and tips to help you get up and running.
For more in-depth training and videos, the NinjaTrader 8 Help Guide can be found here. The Help Guide can also be accessed through the NinjaTrader platform by pressing F1 on your keyboard. This action will trigger the Help Guide section pertaining to the last window used in NinjaTrader.
The NinjaTrader User Forum is also a great resource to collaborate with a community of NinjaTrader enthusiasts, programmers and our support team.