This article explains how NinjaTrader allocates contract quantities across the targets of a multi-target ATM Strategy, and what that means when the strategy is used together with Replikanto's ATM Copy feature.
How contract distribution works
When you use an ATM Strategy with multiple targets, NinjaTrader distributes the contracts according to the quantities you specify in the strategy's definition.
- Any quantity left over after distribution is always allocated to the first target. This is a NinjaTrader rule, not something Replikanto controls.
- You can change how contracts are split by changing the quantities in your ATM Strategy.
A three-target ATM Strategy (ATM 3T) after a 5-contract long entry on Sim101: NinjaTrader places one target order per target, each with its own quantity (2, 2 and 1 Sell LMT at +20, +40 and +60 ticks). The three stops share one price, so the chart shows them as a single 5 Sell STP line.
What is an ATM Strategy?
ATM (Advanced Trade Management) Strategies enable the automatic placement of predefined Stop Loss and Profit Target orders once an entry order is executed. These exit orders use One Cancels the Other (OCO) functionality, so when either the Profit Target or the Stop Loss is triggered, the remaining order is automatically canceled. This setup is commonly referred to as a bracket order.
Rules for building a multi-target ATM Strategy
When you build an ATM Strategy with more than one target, NinjaTrader requires each target's orders to follow a strict order:
- Each Profit Target must be greater than the Profit Target before it. For example, the Profit Target for Target 1 must be less than the Profit Target for Target 2.
- Each Stop Loss must be equal to or greater than the Stop Loss before it. For example, the Stop Loss for Target 1 must be equal to or less than the Stop Loss for Target 2.
- To give a target a Stop Loss only (no Profit Target), set its Profit Target to zero.
- Make sure the total number of contracts across all targets matches the Order Quantity set in the ATM Strategy Parameters window.
The same strategy in the ATM Strategy Parameters window: 1 = Order quantity (5); 2 = each target's Quantity (2 + 2 + 1 = 5); 3 = Stop loss, equal to or greater than the target before it (20, 20, 20 ticks); 4 = Profit, greater on each target (20, 40, 60 ticks).
If you're using the ATM Copy feature with the Ratio or Pre Allocation copy method, keep in mind that the quantity used in the ATM Strategy can differ per follower — it depends on the calculation method. Since NinjaTrader performs the distribution across targets on each follower's side, define your target quantities with the followers' actual contract counts in mind.
ATM Strategies and Replikanto
Adding an ATM Strategy to an open position
ATM Strategies cannot be applied to open positions when using Replikanto. If you open a position that isn't currently protected by an ATM Strategy, and you then add a pre-defined ATM Strategy to that position from the Positions tab — by right-clicking the instrument row, selecting Apply ATM Strategy, and choosing the desired template — Replikanto will not be able to copy that applied ATM Strategy to your followers.
Contract allocation with ATM Copy
When you use the Replikanto add-on together with ATM Copy, the allocation of contract quantity to targets is handled by NinjaTrader, not by Replikanto. NinjaTrader distributes all contracts according to the quantities set in the strategy's target definitions, following the same rule described above: any leftover quantity goes to the first target, and you can change that split by adjusting the quantities in your ATM Strategy.
Custom Stop Strategy caution
Important: If your ATM Strategy uses a Custom Stop Strategy on any target, don't combine it with a copy Ratio other than 1 (or a Pre Allocation method that results in a scaled quantity). The Custom Stop Strategy doesn't account for the scaled contract quantity on the follower's side, which can cause the stop to close more contracts than expected. Use a regular Stop Loss instead when copying with a ratio different from 1.
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