FX with half pip increments

[astrolobe]

I have my forex charts set to half pip increments for IB. When I want a 50 pip stop in the ATM Strategy I need to specify the stop as 100 pips because it is in half pip increments.
Am I missing something here??
If this is the correct way of doing it, then we are really saying that the stop loss is not in pips, but whatever the lowest increment variation is on the chart. This is NOT intuitive.

If I want a stop of 50.5 pips then I should be able to just enter 50.5, not 101.
(I know the ATM Strategy dialog says "ticks", but there must be a better way. I could change my charts to Pip increments, but then I am losing granularity when I shouldn't have to.)

Is there a good reason for this behaviour?

[NinjaTrader_Kyle]

Hello astrolobe,

Thank you for your post.

By setting NinjaTrader to use the half-pip setting you've removed the need to make any such modification.

In terms of forex trading within NinjaTrader in general you could think of the term 'tick' as being equal to 'pip' or 'smallest base price increment'.

This being the case, you should not need to make any modifications to your order quantities or stop/target prices.

[astrolobe]

Kyle, I am not exactly sure what you are saying, but when I calculate my money management for a trade, it is in pips, not ticks. In the ATM Strategy dialog it is in ticks. Therefore, all my stops and targets in that dialog must be doubled if forex is set to half pips.

[NinjaTrader_Kyle]

Hi astrolobe,

To be more clear, what I mean is that you do not need to double any figures as you currently are; no special compensations of any kind are required.

Within the NinjaTrader software, you can consider the term 'tick' equal to the term 'pip'.

When configuring ATM strategies using the 'ParameterType=Tick' setting you will be configuring ATM strategies based on number of pips.

For example, with the above setting in place, a stop loss setting of '50' would result in a stop being placed 50 pips from the average entry price.

[astrolobe]

Kyle, I think we are referring to different things here. I am referring to the dialog that pops up when you enter a ATM Strategy from within Chart Trader.
I don't see any 'ParameterType=Tick' in that dialog.

[NinjaTrader_Kyle]

Astrolobe,

Please provide an image of the component which you refer to.

The 'Parameter Type' option is something you'll find by right clicking in the Chart Trader side bar and selecting 'Chart Trader Properties'.

The property's name is 'Parameter Type', the correct setting is 'tick'.