Automatic stops on a manual entries dependent on PnL

[tomiboi]

I don't even know if I should be using an ATMStrategy for this.
Can anyone recommend a way to immediately place and/or modify multiple stops by a self defined function of PnL and entry price everytime i place a manual order?

[NinjaTrader_Josh]

I am unaware of a way to use ATM strategies to handle stops in regards to PnL, but you can definitely do it for things like auto trailing or auto breakeven.

[tomiboi]

i thought so, that's why i guess it wouldn't be an ATM Strategy, but there must be a way, maybe with OnExecutionUpdate or OnPositionUpdate

[NinjaTrader_Josh]

Those methods are in relation to things a NinjaScript strategy does though. NinjaScript strategies submit automatic orders and not manual orders.

[tomiboi]

so u mean i just can't do it?? really?

[NinjaTrader_Ray]

With ATM strategies, you can submit stops/targets based on a user defined offset amount from the entry price.

With NinjaScript, you can do whatever you want but this is automated trading, not manual order entry.

[tomiboi]

ok, OnExecutionUpdate would would help me, no? But it doesn't fire in the strategy unless the strategy actually places the order. How can i handle this event when triggered by a manual order?

[NinjaTrader_Ray]

This is not supported.

[tomiboi]

I found a previous post of yours saying:

"Take full control and responsibility for self order management that can be driven by a number of methods that are called when certain events are called such as OnBarUpdate, OnMarketData, OnPositionUpdate, OnExecutionUpdate, OnMarketDepth, OnOrderStatus etc..."

So people are using these, right? Where did they find out how to use them? common sense, experimentation, or did they pm you?

and what ever happened to trademagic?

[NinjaTrader_Ray]

Yes people are using it in NT 6.5 Beta. Please see the Help Guide for information under the NinjaScript section.

TradeMagic was acquired by NinjaTrader, LLC three years ago.