Automatic stops/targets and emotions
Ninja ATM strategy setup and limiting hits.
I see many are entering trades without any stop loss or targets. You have to have stop loss whether is 2 pt or 4 pt or 5 pt. I use Ninja for trading. I always have stops and targets in place before I enter a trade. I have larger stop of 4 point during volatility events like CPI or Jobs reports and so on. I use 2 point stop during normal trading hours. You don’t have to follow 2 point stop if its too tight for you to reenter but come up with something that is no more than 5 point that works for you. I also suggest not to take more than 2 hits in a day. If you had two hits (stopped out with loss) you stop trading that day. If you are taking too many hits you are impatient or have FOMO and not entering trade on right side of V or A. See my post on entry. You have to overcome FOMO, fear and wait for price to come to you.
See below tutorial link and video to understand how to have automatic SL, BE and Target setup. I suggest you setup initially for 4 lots (ES or MES) and got to break even at 8 ticks, take first two out at 24-32 ticks (6-8 pts) and 3rd at 48 ticks(12 pts) and leave 4th at break even and manually manage stop on it as it goes in your favor.
Here is Think or Swim 4 lot strategy with first two out at 8, 3rd at 16 and 4th at 40, you can set this up on Active trader tab.
Same strategy on Ninja
To adjust your SL On ATM order follow this.
https://t.co/zZBYw19Mhv (Read first paragraph)
To customize more use following link for Ninja.