NinjaTrader provides the option to trade with or without an Advanced Trade Management (ATM) Strategy, shown in Figure 33. ATM Strategies are designed to provide discretionary traders access to semi-automated features to manage positions.

Note: NinjaScript Strategies are required for fully-automated trading systems.

The ATM Strategy window where traders can specify quantity, stop loss, profit target and stop strategies for each trade.
Figure 33: The ATM Strategy window where traders can specify quantity, stop loss, profit target and stop strategies for each trade.




An ATM Strategy is a collection of orders that represent a trader's entries, exits, stops, targets and sub-strategies (Auto-Breakeven, Auto Chase and Auto Trail, etc) that is used to manage a portion of or an entire open position. In NinjaTrader, ATM Strategies can be defined spontaneously, or traders can define them ahead of time and save the rules/conditions as templates that can be used any time.

ATM Strategies offer traders several advantages, including:

  • Fewer order entry mistakes and pilot errors

  • Better speed since the computer sends the order instead of the trader

  • Increased discipline because it is easier to stick to the plan

  • Higher consistency

  • Reduced emotions

All of the order-entry interfaces in NinjaTrader contain the same control for defining an ATM Strategy, shown in Figure 34:

1. The ATM Strategy Control list.

2. The Stop Loss and Profit Target parameters.

3. The Advanced Options (if Advanced Options do not automatically appear, right-click on the window and check "Advanced Options …" from the menu).

All of the order-entry interfaces in NinjaTrader contain the same control for defining an ATM Strategy.
Figure 34: All of the order-entry interfaces in NinjaTrader contain the same control for defining an ATM Strategy.


The Strategy Control List
The Strategy Control List (see the number "1" in Figure 34) defines how orders will be handled once they are submitted. There are three categories that appear in the Strategy Control List drop-down menu, as shown in Figure 35:

1. <None> When this option is selected, any orders that are placed in the order entry window will not be applied to an active ATM Strategy. No new ATM Strategies will be initiated.

2. <Custom> When this option is selected, traders can define a new ATM Strategy on the fly. Once an order is submitted, the ATM Strategy parameters will be reflected when the order is partially or completely filled.

3. <Active ATM Strategy X> When this option is selected, the particular ATM Strategy chosen will manage the trade once it is submitted.

The Strategy Control List.
Figure 35: The Strategy Control List.


ATM Strategy Parameters
Within the ATM Strategy window, traders can enter values for:

  • Qty - Sets the quantity for the Stop Loss and Profit Target orders

  • Stop Loss - Sets the value for the Stop Loss

  • Profit Target - Sets the value for the Profit Target

  • Stop Strategy - Sets the Stop Strategy
Note: Parameters can be entered as ticks, percent, or as an absolute price. To change how parameters are entered in the ATM Strategy, right-click in the order-entry window and select "Order entry Properties". The Properties window appears. Under the General section, select the desired Parameter Type, as shown in Figure 36.

Set the Parameter type as Percent, Price or Ticks.
Figure 36: Set the Parameter type as Percent, Price or Ticks.


ATM Strategy Selection Mode
Most order entry screens in NinjaTrader have three modes from which to determine the behavior of the ATM Strategy selection control list once an ATM Strategy is initiated. The mode can be selected by right-clicking on the order-entry window and selecting "{Order entry} Properties". The Properties window appears. Under the General section, select the desired ATM Strategy Selection Mode, as shown in Figure 37.

Select the ATM Strategy Selection Mode in the Order Entry Properties window.
Figure 37: Select the ATM Strategy Selection Mode in the Order Entry Properties window.


The three options are:

1. Display Active ATM Strategy Only
This is an advanced mode that is designed for traders who wish to run simultaneous ATM Strategies in the same market. Traders can have multiple SuperDOMs open, tracking the same market with different trading strategies. Note: When the SuperDOM is set to this mode, it will only display orders associated with the active selected ATM Strategy in the ATM Strategy control list. If there are other orders working in the selected market that are not associated with the ATM Strategy, they will not be displayed, but they could still be filled. This can be risky if traders lose track of the various orders. It is important to fully understand this feature before putting it to use. Detailed information can be found in the NinjaTrader Help Guide.

2. Select Active ATM Strategy on Order Submission
This default mode automatically selects the newly created active ATM Strategy on entry order submission in the ATM Strategy control list. It is designed for traders who want the existing strategy Stop Loss and Profit Targets to be automatically updated when they scale into or out of a position that is managed by an ATM Strategy.

3. Keep Selected ATM Strategy Template on Order Submission
This strategy selection mode keeps the currently selected ATM Strategy template chosen in the strategy control list upon order submission. It is designed for traders who want to create a new set of Stop Loss and Profit Target brackets with each new order placed.

Advanced Options
Several advanced options (see Figure 38) are available in ATM Strategies:

Several advanced options are available in ATM Strategies.
Figure 38: Several advanced options are available in ATM Strategies.


Auto Chase
When this option is selected, NinjaTrader will automatically adjust the price of the limit order with each tick that the market moves away from the order, until the Chase Limit amount is reached. Auto Chase parameters include:

  • Chase Limit - The maximum amount that Auto Chase will adjust the limit order price

  • Chase - Enables Auto Chase on entry orders

  • Chase if Touched - Enables Auto Chase if touched on entry orders

  • Target Chase - Enables Auto Chase if touched on Profit Target orders
The difference between the Chase and Chase if Touched options is that Chase if Touched does not begin chasing until the limit price has been touched.

To enable the Auto Chase features, set the desired parameters before entering the ATM Strategy. Auto Chase can also be enabled or disabled on working limit orders:

  • Move the mouse over an active limit or Profit Target order in the buy cell (for a buy order) or the sell cell (for a sell order).

  • Right-click and select "Auto Chase" from the menu (see Figure 39). A check enables the Auto Chase feature; leave unchecked to disable this feature.
\'Right-click
Figure 39: Right-click on a cell and select "Auto Chase" from the menu to enable or disable this feature.
Image courtesy: NinjaTrader, LLC.


Auto Reverse
Auto Reverse reverses a position once the Stop Loss or Profit Target has been reached. Traders can enable "Reverse at Stop" or "Reverse at Target" with any ATM Strategy. When Auto Reverse is enabled, entry orders for the reverse AMT Strategy will be placed at either the Stop Loss or Profit Target orders (see Figure 40).

A 1 stop, 1 target ATM Strategy with Auto Reverse enabled for both the stop and target.
Figure 40: A 1 stop, 1 target ATM Strategy with Auto Reverse enabled for both the stop and target.
Image courtesy: NinjaTrader, LLC.


Traders can enable (or disable) the Auto Reverse feature of an active ATM Strategy by right-clicking on the SuperDOM or Basic Entry window and checking (or unchecking) the "Reverse at Stop" or "Reverse at Target" menu options, as shown in Figure 41.

Right-click and check to enable or uncheck to disable the Reverse at Stop or Reverse at Target features.
Figure 41: Right-click and check to enable or uncheck to disable the Reverse at Stop or Reverse at Target features.


Shadow Strategy
The NinjaTrader Shadow Strategy (see Figure 42) is a useful feature that allows traders to forward-test alternate trade management ideas. With a Shadow Strategy, traders can create an alternate ATM Strategy and link it to an ATM Strategy that will be used in live trading. Each time a position is entered in the live strategy, a simulated position will be opened and managed by the Shadow Strategy. In this manner, traders can forward test ideas using the same entry signals that trigger live trades. A database of actual trades and simulated (Shadow Strategy) trades can be viewed in the Performance Tab that allows traders to determine which method might be more profitable.

To avoid confusion, it is recommended that a Shadow Strategy's name include a defining prefix such as "Shadow - My Strategy."

Selecting a Shadow Strategy
Figure 42: Selecting a Shadow Strategy



Next: Advanced Guide To NinjaTrader: Conclusion »

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