chart trading weirds me out

[Speedie6]

In many ways, the chart trading feature is just fantastic, love it. And, I really love how someone from NT always responds to questions in the forums right away, best support I've seen for any product I can think of. Still, some things I can't seem to get my head around, maybe someone can help.

First off, when doing a strategy with multiple targets, there is a quantity for each target, which seem to conflict with the overall quantity. Like, if I have in my strategy for target 1 with a qty of .01M, target 2 with a qty of .01M, and an overall qty of .04M, I wind up with .03M at target 1 and .01M at target 2. Huh, wha? Shouldn't the qty be like a percentage or a multiplier. Like if I had a qty of 1 for target 1, and qty 2 for target 2, and an overall qty .04M, I would wind up with .04M for target 1 and .08M for target 2. Something like that, right?

And, speaking of the Qty field, I believe that .01M equates to what many forex brokerages would call a "mini lot" and .1M equates to a "standard lot". I know of course that other brokerages allow for other sizes and even micro lots. And of course other types of instruments, like stocks, trade in different quantities. But, based on the instrument being traded, the qty field should make sense. Like, I can put in a value of 1 in the qty. I assume the brokerage would reject such an order, but, it lets me put it in, and trade it in the simulator.

And the qty up/down buttons, at least for forex, it seems to default to up/down .1M. Maybe this is adjustable via settings in the Instrument Manager? At any rate, I'd much rather this default to .01M, at least for now. Maybe .1M when I get bolder.

Nor does the up/down buttons force the value to be rational. Say I had a bad value in there of 1, instead of .01M. I hit the up button, and it comes up with a silly order qty of 100,001. In other words, I think I should configure the instrument to trade in, say, .01M, and it would only allow values that are multiples of that, 1 mini lot, 2 mini lots, etc.

Then I need to know how to close part of a position. Why can't I just click on the value that I hold, and change the qty, and have it likewise change the qty on the stop and limit?

Or am I seriously not understanding something?

[NinjaTrader_Jason]

Hello Speedie6,

I could not reproduce this behavior in ChartTrader upon creating and executing an ATM strategy. Please ensure your "Order qty" in the ATM Strategy window reflects the total of "Qty" of all Targets. The "Qty" in the ChartTrader window should reflect the correct total.

As per the up and down buttons, when I test the EURUSD while connected to Gain the buttons use increments of just 1. Can you please tell me what instrument your tested and on which data feed. Tell me your NinjaTrader version as well (Help-->About).

You can close part of a position by submitting a sell order if you are long and a buy order when short.

[Speedie6]

Hello Speedie6,
Please ensure your "Order qty" in the ATM Strategy window reflects the total of "Qty" of all Targets.

See, that's what I'm talking about. THIS is what doesn't make sense! If you have a strategy with 1 target, then you can use it the strategy if I'm buying .01 M or or 20 M, it doesn't matter to the strategy. But, if I use a strategy with multiple targets, then ITS ALL DIFFERENT, and I have to have one strategy to buy .02M, another strategy to buy .04M, another strategy to buy .06M, another strategy to buy .08M, etc, etc, etc. That is why the qty in the strategy should be a percentage or a ratio or something. That way the same strategy would work whether I'm buying .02M or 20 M, it wouldn't matter to the strategy.

[Speedie6]

You can close part of a position by submitting a sell order if you are long and a buy order when short.

That does seem to work, but, well, maybe I'm stupid, but to me, its not what I would expect. It seems like that should instigate a new strategy run in the opposite direction with new stops and limits. But, I guess that I should just learn that is what it does. Still, I would think that I should be able to just click on the qty owned flag and change it, just like you can click on the stop/limit order flags. Though I guess its not a big deal.

[NinjaTrader_Jessica]

No, for it to enter a strategy in the opposite direction it would have to be two SuperDOMs with a different ATM strategy selection mode.

Please join us for our ATM webinars to learn more about the ATM strategy selection modes.

Thank you for your comments.

[Speedie6]

No, for it to enter a strategy in the opposite direction it would have to be two SuperDOMs with a different ATM strategy selection mode.

Okay.

How about what I'm saying in regards to multiple targets? See why I say it doesn't make sense?


Please join us for our ATM webinars to learn more about the ATM strategy selection modes.


I've joined a couple of times before, I will join again.

[NinjaTrader_Jessica]

It makes sense to me but you may want to try attending the Forex session today at 3:00 PM EST as it may be better to see it live in the room.

[Speedie6]

It makes sense to me but you may want to try attending the Forex session today at 3:00 PM EST as it may be better to see it live in the room.

I'm listening now. Did you understand how I was saying that with 1 target, you can use the same strategy no matter what qty you want. But with two or more targets, you have to have a different strategy for each possible qty you would need. This is correct, right? Are we communicating? If so, do you see why this is lousy?

[NinjaTrader_Jessica]

I see what you mean, but if you are using three targets and you increase the quantity there is no way for NinjaTrader to know how to distribute the additional quantity.

What I would do is build one template, and when you increase the amount make the minor adjustments to the quantities in your strategy and then enter the trade, or as you stated build addditional strategies for the common quantities you trade.

[Speedie6]

I see what you mean, but if you are using three targets and you increase the quantity there is no way for NinjaTrader to know how to distribute the additional quantity.

Yes, it would, if, as I've been suggesting, you made it a ratio.

I listened to today's show, and brought it up. He demoed a 3 target strategy, of 2 lots, 2 lots, 2 lots. Thats a 1:1:1 ratio. If the strategy was set up as ratios, then the same 1:1:1 strategy would work whether buying 3 lots, 6 lots, 9 lots, etc.


What I would do is build one template, and when you increase the amount make the minor adjustments to the quantities in your strategy and then enter the trade, or as you stated build addditional strategies for the common quantities you trade.

Well, that's what you have to do, so, that's what you have to do. But, it is extra complication that is just totally unnecessary. Just make it a ratio and the complexity goes away.