Management Buttons


File Management

This section allows your BlackBird settings to be saved to a file and restored for later use.  The Clear button will remove all settings, resetting BlackBird to its default settings.

In order for BlackBird to restart exactly the same way after restarting NinjaTrader, your settings must be saved to a file. Upon restarting NinjaTrader, BlackBird will restore the file that it had open before NinjaTrader was closed.

Risk Management

Risk management provides a central location to set minimum risk criteria. These options primarily apply when BlackBird is used for automated trading.  See each description for more information.

Money Management

Money management provides various options to automatically disable auto trading for the remainder of the day. The day ends at midnight per your computer’s time clock.  Trading will resume again after midnight. These options only apply when BlackBird is used for automated trading.  They have no effect on manually/discretionarily placed trades.
BlackBird has a unique feature.  It remembers the prior realized trade data, for each instrument, in the event the strategy is disabled and re-enabled again during the same day.  See the PnL Calculation Mode section below for important information on this feature.  In the event NinjaTrader crashes, NinjaTrader is not capable of reconnecting open orders back to BlackBird.  Those orders will have to be flattened manually.

Disabling the strategy (i.e. BlackBird) means the strategy was shut-down, turned off, or the chart was reloaded by any means.  This does not apply to clicking the ‘Auto Trader’ button to Disabled, because that simply stops auto trading, and BlackBird is still running.

MODE


DAILY   SAFEGUARDS


ACCOUNT   RISK


DAILY   WATERMARK

A daily watermark is like a trailing stop-loss for realized net profit earned per day.   The intent is to protect some of the daily profits, instead trading all the profits away.  Read ‘Activate Watermark After’ to learn when the watermark function is activated.  Read ‘Stop Trading After’ to learn how the watermark stop-loss value is calculated and how profits are protected.  The P&L from manually taken trades are excluded from the high watermark calculations.  The Watermark feature is currently only for automated trading.
Note:  The watermark is updated when realized P&L occur (I.E. after the entire position is flat).  The high watermark does not update in real-time like a trailing stop-loss would.

Scheduling

This feature allows you to select when automated trading is permitted.  This unique graphical interface can load a NinjaTrader Session template which can then be easily modified to suite your needs.  Automated trade signals are executed only during the trading session times selected in green.  Trade signals that occur outside of the trading session times are ignored, except for scale-in orders.
Important Note:  Scale-in orders are considered parts of the whole order set.  Therefore, if a position is already open(the initial order executes inside the trading session), then scale-in orders can execute outside the trading session, because scale-in orders are placed in a pending state (waiting to be executed).  This behavior is subject to change in a future update.  Use Force Trades To Exit to cancel any scale-in orders that are pending.

Override Account Performance

This feature provides basic performance metrics, and the ability or change them incase you turned on BlackBird late and want to include any missed trade data in the performance metrics.  That may be desired when using Money Management rules, so that the rules are working with all the data for the entire day.  Advanced statistical data can be gather from NinjaTrader’s Strategy Performance report.

Options

This is where miscellaneous options are located. Options that are not associated with other components.

Alerts

This option will play custom audio sounds when automated trade signals occur.  Keep in mind that NinjaTrader audio alerts always override BlackBird audio alerts.

Help Menu

This provides easy access to various help sections.