I admit I am new to the Ninja DOM, but not to trading DOMs in general. For the life of me I cannot seem to get this thing to allow me to have stategies active which allow multiple contracts to have different stop/target orders. I would like to hear if this is just me not fully understanding the Ninja DOM or is it limitations to the application.
SCENARIO: I want to enter a long for (1) YM contract say at 9200 with say a 10 point stop. (easy enough to do this one, just create the strategy, activate, and away you go).
The problem comes in when I want to add another (1) contract in at say a few points less (9197) AND have it assume a different (smaller stop loss) than the 1st contract which is already in play.
I created a 2nd strategy and put in the parameters I wanted, but as soon as the order gets hit it automatically takes on the same stop loss as the 1st contract. Heaven forbid I try to change the stops/targets individually as Ninja will spit out messages saying you can't change a strategy once in play.
Even worse is I really would like to scale in (1) more contract (3 total) but I can't even think about that until I get passed contract #2.
Any advice/comments would be greatly appreciated. As they say, money management will make or break you and right now I am on the side of the road with a flat and no spare..
Ok guys, I think I just found the answer. I needed to go into the properties settings of the DOM and change the the parameter that links orders..
Maybe we can morph this into a different question, and it really is more to the best practices part..
QUESTION: I have a total of (3) contracts that I want to scale in and out. What have you all found to be the most optimal approach. For instance, if I get filled with (1) contract and it happens to be the one that was set for "scalp" of a few ticks and gets filled immediatly then it never gets the chance to run a little. At first glance it would seem that the 1st contract you put into play should actually be set as the runner and then subsequent contracts as minimal goals. Anyway, that is the delema I am facing, now that AAA has come to the rescue with a spare, I need to get on the highway, but need some directions...
Thanks again, sorry for the confusion..
The following user says Thank You to HJay for this post: