An Emergency 'Get Out Break Even' button ?

[vlc]

Sometimes I want to very quickly set a get out break-even target or stop; as quickly as possible. Is there an add-on or button that will allow me to immediately move all stops or targets to breakeven with one click?

[NinjaTrader_DaveI]

Hello,

There is not a way to accomplish exactly what you are looking for, although it may be possible with extensive custom coding. However, you can set up an auto-breakeven stop loss as part of an ATM strategy. This could move your stop loss to breakeven when your trades hits a certain profit level, but it would not allow you to move all stop lossess to breakeven at will.

Please let me know if I can assist further.

[varilorant]

Hi vlc,

Check out out ChartTraderPRO Add-On, we have manual BE +- Tick offset, and you can create an auto BE rule at a specified price as well using our SL Trailing Module.

http://algotrader.ninja

If you have any question, I'll be happy to assist you

Lorant Vari

[vlc]

I just found an option in the Hot Key manager...
"
Breakeven ATM Strategy
Modifies your stop loss order to your break-even price for the ATM Strategy on the active window

Breakeven Position
Modifies any stops to your break-even price for any open position.
"
Trying it out now... but it doesn't see to take into account any setting in the ATM for breakeven plus x ticks. Still it might be what I'm looking for.

[vlc]

Actually it looks like that Hot Key Manager is not quite what I'm looking for because it only moves the stops to break even... what I actually want is for the Targets to move to breakeven.

Maybe , since it is so similar to what is there already, it can be easily added to NT8 ?

[NinjaTrader_DaveI]

I'm afraid you will be in the same boat with profit targets. You can manually move a profit target to a breakeven level, but there is not a quick button built in that will do this. However, it would be possible with extensive custom coding.

[vlc]

@varilorant: I think the basic logic I'm looking for is:-
IF CurrentProfitLoss > 0 THEN Go Flat.

I can probably very easily create a Strategy to do that but wouldn't have a clue how to activate that urgently, in the middle of a trade.

If you think the ChartTraderPro package would let me do that, with one click on demand, then I'll install it and give it a go.

[varilorant]

Hi,

I think it is very easy to create this logic with the existing Trailing module ANYTIME, during the trade as well.

Simply create an IF - THEN logic when you want to start:



Expl.

1. IF price is: Avg Pos price
2. THEN move all StopLoss TO BreakEven (single execution)

1. IF price is: Avg Pos price + 2 Ticks
2. THEN move all StopLoss TO BreakEven + 1 Tick (single execution)

1. IF price is: Avg Pos price
2. THEN move Start Trailing using 2 Ticks offset (On OrderUpdate)

But we can easily create any feature, we have hundreds of logisc already developed (extension modules)... will be released soon...

The logic will start when you check the Enable Trailing button...

+ you can change anytime the values, methods during the trade (it is king a visual , real-.time robot, strategy)

Let me know if you need my help, I can show through an online meeting anything.

Have a great day

Lorant

[arbuthnot]

@varilorant: I think the basic logic I'm looking for is:-
IF CurrentProfitLoss > 0 THEN Go Flat.

I can probably very easily create a Strategy to do that but wouldn't have a clue how to activate that urgently, in the middle of a trade.

If you think the ChartTraderPro package would let me do that, with one click on demand, then I'll install it and give it a go.

Hi Vic

I agree, going 'flat' seems to be the best solution.

You probably know this but, just in case, go to 'File, then select 'Flatten Everything'. This could be done in a matter of seconds. Of course, this would flatten all your positions, which is maybe not what you want...

Of course, there's also the 'flat' button in Chart Trader and in the SuperDOMs.

Cheers, Ed

[vlc]

And I don't have to stop using my existing NT7 strategies, correct?

[vlc]

@arbuthnot

Yes, I do know about the flatten-now buttons, but I'm hoping for something that will include the "as soon as I can get out break-even" condition.

[varilorant]

Correct. All charts works as separated instances.

[vlc]

I just noticed that a commercial add-on I already have almost does this. Almost, because it only triggers if profit is 25% or more of original risk. That might be OK, but I'll try AlgoTrader soon.