Default ATM Strategy

[vlc]

Why is it a good thing to not allow for a default ATM Strategy?
I've been caught out and traded naked so many times.
I tried to then add a stop order using a strategy but still have not figured out how to do this correctly.
I can add an OCO but I don't want a target in my strategy. If I just select an ATM Stategy and only add the stop, it generates a new order when it's hit.

[NinjaTrader_Ryan]

Hi vlc:

Thank you for your post.

Unfortunately, at this time, the default setting for the ATM strategy section is set to <None>.

I will forward to development your suggestion to be able to set NT to have an ATM Strategy you created be the default setting in this drop down field.

In the meantime, if you find yourself in a naked position without a stop or target, you must use the OCO function to add this. I have included instructions below:

If you have an open position without a strategy, you need to add a limit and stop order to protect the position.
- Set strategy to <none>
- Right click in the DOM and enable OCO order
- Then place a limit order where you want to exit at a profit
- Then place a stop order where you want to exit at a loss
- Then right click again and disable OCO order

Best regards,

[vlc]

This remedy MUST have a limit order in it? I don't want a limit order.... can I remove the limit order after the OCO order is created?

[NinjaTrader_Ryan]

Hi:

Unfortunately, if you cancel/remove the limit order, your stop order will be cancelled/removed as well since these are OCO orders. If you cancel one of the bracketed orders, the other will also be cancelled and you will be left with a naked position again.

Regards,

[vlc]

I think rather that having a default ATM Strategy it might be better to have a "Lock" icon next to the ATM Strategy dropdown list box to lock that strategy as the active strategy for that window. It would be cleared if the window is closed.
If the chart template is saved (while an ATM Strategy is locked-on) the template would include that detail.
I can see now that the options for implementing this are not straight-forward.

[NinjaTrader_Vincent]

Hi VLC,

Thanks for the suggestion though, I will forward it to development.



Vince