Instrument Settings
Each symbol traded will have a tab, where you set individual specific settings:
Lots
Select your desired lots here
ATM
For automatic trade management by Ninjatrader when position filled
- Russell, ATM = TF1
- Midcap, ATM = MC1
Note: You must use a ATM strategy. It is simply not safe to trade without a protective stop on fill.
Entry Parameters
Choose from Market or Limit. You have the option with Limit to go for a better entry price, but you risk not getting the trade filled if price is quickly moving in the 'right' direction.
Max Spread
Here, you define the maximum spread you will accept when a signal comes through. This prevents an automatic trade occuring during extreme volatility where the spread could be very large. This is user adjustable.
- Russell, spread max = 2 ticks
- Midcap, spread max = 2 ticks
Use ATM2 if...
You can optionally define a second TF ATM in Ninja's DOM and call this if a signal comes thru and you are at a negative PnL at that time. You would name it: TF2, MC2, during construction in the DOM. This function is meant for experienced traders and the usage of it is totally up to you.
Cancel Order check box
As you do not want an unfilled order sitting around in Ninja, when checked will automatically cancel the order in the specfied number of minutes. The blank box to the right is a count-down to cancelling in seconds. This only applies to LIMIT orders. Remember, with a limit order you run the 'risk' of not getting a fill and missing the trade altogether.
- Russell, checked @ 1 minute
- Midcap, checked @ 1 minute
Flatten (+) trade check box
This option allows the module to flatten a positive PNL trade if it has not reached the target after a specified number of minutes. This is here because of the theory that when a trade is put on, we expect it to go or else get out. The blank box to the right is a count-down to flatten in seconds.
The other adjustable option here, is the number of 'ticks/pips' that the trade would have to be greater or equal to for this function to initiate. This can be any number you choose. Just examples here!
- Russell, checked @ 2-10 minute
- Midcap, checked @ 2-10 minute
Symbol AUTO ON...
This activates the Interface Module to ready state, ready to process a trade signal.
When this time occurs, the 'On' checkbox next to the instrument name will become 'checked'. Whenever this is checked, any signals from the esignal chart will be processed.
For the TF and MC, this would be at or right after the NYSE open, at 06:30 AM PST. A more conservative time to begin trading is about 5 minutes after the open.
Remember also: There are several times that you may consider NOT trading. Those are the day before and day of the FOMC interest rate and non-farm payroll (NFP) announcements. The other time is the Friday before a significant 3 day holiday weekend.
Symbol AUTO OFF ...
This deactivates the Interface Module so that it will not process any more signals from the chart robot. This would only occur IF your goal ticks, overall, had not been reached. Turning off means the 'On' checkboxes are unchecked.
Any open trades will still be handled by Ninja, but no further trades will be opened by the Interface Module.
When trading the eMini futures, you do not want to trade during the dulldrums. View 'Times to Trade' here
Symbol Flatten/OFF, if POSITIVE ticks of xx
This is the primary function which gives you your daily goals then waits for the next trading day. You can gradually increase or decrease this value as desired.
- Russell & Midcap, adjust value to your daily goals, but the safe and conservative approach is to go for 10 ticks / day - day in and out.
Symbol Flatten/OFF, if NEGATIVE ticks of xx
This is the overall stop loss for the system, if something globally occurs suddenly in the market. You can change this value as you see by more great trades occuring during the allowed trading sessions.
- Russell & Midcap, adjust for your tolerance
Limit Signals 2 per direction
Check to only allow 2 signals (diamonds) per direction. Best used for the futures.
Default: unchecked
Allow Reversals check box
Check to allow a reversal if the opposite signal comes in
Default: unchecked
Engage Loss Reducer
This function, if used, will remember the maximum excursion in price if any trade closes less than zero, ie, a loss. Any further signals/trades, thereafter, in the same direction will only be allowed if the proposed entry price is greater than 10 ticks (Russell and Midcap) away from this previously measured and stored maximum excursion price. As Forex prices go all over the map, this function is best used for the emini futures.
If price later breaches a previously set high or low, all further trades are then allowed.
Spread to Log file if > xx
This will send to your Spread Log file anytime the spread is greater than your set value. This is useful to evaluate times of day to NOT trade ever, as the spread is too great. Also if a 'diamond' signal is not processed, you would see the spread value printed in the activity log and the spread log.
Default: unchecked
Global Settings
Found in the left sided tab
Evaluate PNL for symbol flattens, only when symbol postion flat
For each symbol flatten if POS or NEG, you can choose to have this function evaluating a live open trade or only evaluate when trades have closed, ie, all flat for that symbol.
Send emails for auto symbol flattens ( + and - )
An email/SMS will be sent whenever a symbol flatten routine engages.
Send emails for each trade that closes
An email/SMS will be sent whenever a trade closes. This affects all symbols trading.
Button: Print Activity Log
This will print the current activity log contents to the daily file on your hard drive.
Button: Reset Closed PNLs
This will reset all closed symbol PNLs noted in the lower status bar to zero. This also resets all flags that may have been set to 'true', if a loss trade ocurred and you are using the Loss Reducer function.
Button: Resubscribe Data
This will send a subscribe to market data to the Ninja platform. Use this if ever you have no data in the bid or ask for a symbol.