To set up a strategy, I recommend your going through the NJ Help Guide, ie press F1 and type strategy in the Search field. For example, the following are extremely important else you will get unexpected surprises:
5. Setting Real-Time Strategy Options
6. Running a NinjaScript Strategy from a Chart
7. Running a NinjaScript Strategy from Strategies Tab
17. Close at Time
20. Strategies Tab
26. Strategy Position VS Account Position
+ more .. You have to go through the list and choose the areas of interest.
For any additional information and assistance, please email NJ at support@NinjaTrader.com.
Hi Perry. I think I am going to try your system on either YM or NQ. Since the ticks on those are $5 each and there is alot more tick movement, would you change your range from a 4 tick range to an 8 tick range on those instruments? Also, what would your SL and PT be on those? Thanks for your help!
My method of trading has got nothing to do with the size of the Range bar as it will work on any size range bar as well as Time bars, Ticks etc. The size of the Range bar you choose is really in accordance of your money mangement. Larger range bars you will need bigger Stops, which is up to each individual and his trading account. If you feel that you can tolerate a bigger SL and a bigger Profit target, then it is solely your decision.
The following user says Thank You to perryg for this post:
Hi Perry. I really appreciate all of the great information you have shared in this thread. I have read through the thread twice now, and still have some confusion on one point in the basic trade setup (obviously I am a bit slow). In Method 1, it is my understanding that the EMA 5 line must be going up (for a long) 2 bars prior to the setup bar. Said another way, if you count the setup bar, the EMA 5 will be going up 3 bars (2 bars before and the setup bar itself) when you enter the trade. Sorry to belabor the point, but my understanding of this changed while rereading the thread last night. Please let me know if my current understanding is correct. Thanks.
When able would you please let me know in the Method 1 for the long.
Do I have to have two bars to close above 5 EMA, or may I count first bar to cross and close above 5 EMA and 2nd to clear 5 EMA at that time 5 EMA should be pointing up. From that point I can start to calculate five bars to the left and look for the highest High to place my buy order. Am I right?
I think I'm not clear since looking on your chart on page 8 going long you have your order at the red line a bit lower then the Highest High of the last five bars.
Just to make sure I'm clear to what I'm asking. Short at 8:58AM EST @1.2999 did I take it correctly?
Last edited by tickvix; August 11th, 2010 at 09:11 AM.