Hello all, this is my first post and I have to say that I have spent a good 2 weeks just looking at other posts and researching all the great content here. I do have a number of questions so I will start with a couple basic ones.
First, how many people develop indicators that track and alert specific scenarios for positions they are trading? For example, I track 7 different elements for each position. The more of the elements that are positive, the higher the chance is I should be looking at a potential trade.
Second, I have pretty much figured out that changing an ATM on the fly after it has been triggered is not possible in NT (it probably can be hacked around but I do not believe it is a native function). For example, a trade is entered with the tactic of a scalp... the setup changes dramatically and the trade should be extended for a longer run. Once a trade has been entered via an atm there is no manual intervention I have found that can change the logic. How do other people handle basic logic in managing open trades?
Continuing on this though, let's say you are in a trade where you are expecting a certain risk reward. While in the trade (let's say you are short on a position) the market starts to melt. The ATM would exit on a certain profit level. Do other developers out there code routines in their ATMs to take advantage of these types of events. Reality is that these events can happen a lot.
Once I start getting my head around all the options our there I will be more focused with my questions.
Maybe I am missing your point here but although we cannot get into ATM itself to change anything, we can use the chart trader to manually drag and drop orders to suit changes. Right-click to add, etc... Once trade is open it is certainly often necessary to change targets/stops assuming we do not make things worse.
What is missing from ATM for me is the way it locks itself in and you cannot add-on/change new ATM trades while first trade is on. Maybe that is related to your query?
In one of the NT8 webminars(I think the most recent one.) Ray talks about being able to apply an ATM after you are already in a trade. Maybe it will allow the user to apply a different ATM after the fact as well.