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Ninja Automation Techniques

Posted by David Bean on

I want to show you three Ninja Level (or Expert Level) automation techniques. This is for advanced traders who are able to watch their automation intra-day and make these adjustments.

1.) If you use Cancel and Replace Limit to market, you can manually turn off automation and set your limit one tick below the limit order price. This way you know you are filled if your strategy is filled and you can define your slippage to only 1 tick. Sometimes we get negative slippage though and you will never get negative slippage (slippage in your favor or filled at a better price) if you do this unless there is an intra-day gap on news, which can happen in Crude.

2.) If there is a news report about to be released and the strategy is near your profit target, you can go ahead and exit. This technique is more subjective than the other two and should be used with caution. Today it would have worked great in Crude Oil After Hours. You don't want to get into a habit of over riding your automated trades either as we do not advocate turning automation off and on during news events but recognize the ability of Crude Oil to have big reversals on the news.

3.) If you have two different strategies with opposing orders at the same price, you can turn off automation until that price is hit or until one of the strategies exits for another reason and then turn automation back on. You will need to protect yourself with stop orders at the stop price for any new strategies that would enter at the new price in case of flash moves.

The video explains it all as well as the trades of the day. Gold Flash longs and Tick Pulse shorts do well and offset some of the Exhaust and Reverse and Gap Fill and Reverse E-mini S&P losses intra-day. Crude trades doing well in spite of the volatility.


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