September 2, 2022
No workshop today.
August 19 & 26, 2022
No topics to post.
July 15, 22, & 29, 2022
No topics for these days.
July 8, 2022
This demonstrates how the direction of the momentum (or any oscillating indicator) can be used to flatten a position. The Trailing Action created in this video can be added to either a stop-loss or a profit target order. For a long trade, the momentum must be sloping upward. If it moves downward, that will flatten the position. The conditions are reversed for a short trade.
This demonstrates how to set up the trailing rule for a buy/sell stop entry order. For a buy stop, the order will trail downward if the market keeps making lower high prices as each bar closes. The conditions are reversed for a sell stop entry.
This demonstrates how to delay a market entry order from being submitted to the exchange until the following condition occurs. For a long trade, the current bar must close higher than the previous bar high. Once that occurs, the market entry order is submitted. Before that condition occurs, the order is placed into a pending state. For a short trade, the current bar must close lower than the previous bar low.
July 1, 2022
This demonstrates how the Scheduling menu or a stop-loss trailing rule can be set up to flatten a position just before or just after the market closing time. Please note, using a stop-loss trailing rule to flatten a trade base on the time of day has limitations as discussed in this video.
When using an indicator to set the price of a stop-loss, sometimes the indicator will be on the wrong side of the market (thus an invalid stop-loss price). This demonstrates how to set up an always valid stop-loss, and then move it to the indicator’s price after price has been compared to the indicator making sure the indicator is on the correct side of the market.
June 24, 2022
This provides a simple example of adding a BloodHound entry signal, for automated trading, and setting up 3 different profit target levels. The entries are limit orders at the high of the prior bar. The profit targets are 20, 30, and 60 ticks. The stop-losses are 30 ticks, with a standard 30 tick trailing.
June 10, 2022
This demonstrates how an exit order can be set to the closer of two different prices. e.g. For a long trade, you may prefer to set the profit target at the recent swing high price. However, sometimes the swing high is too far away, and it’s also preferred that the profit target is no further away than 4×ATR’s. To summarize, the profit target should be set to the closer price of either 4×ATR’s or the swing high. Both, stop-loss and profit target examples are given.
June 3, 2022
This demonstrates how to set up a Trailing Action rule to flatten a position when the plot of an indicator, such as the MACD histogram, or Momentum indicator, decreases or increases. In this example, this action is added to a profit target, but could have been added to a stop-loss instead. Adding this action to either exit order will work.
e.g. If in a long trade, close the position out if the Momentum indicator decreases in value.
May 13, 2022
This shows how to set up a stop-loss to trail an indicator value 3 bars back. The amaADXVMAPlus (from LizardTrader.com) is used. Instead of trailing the amaADXVMAPlus current value, the value of 3 bars ago is to be trailed. Also, a breakeven +1 tick trailing rule is added.
April 15 and 22, 2022
No topics for these dates.
April 29, 2022
This discusses how the movement frequency of trailing rules (e.g. stop-loss trailing) are affected by NinjaTrader’s Calculate being set to ‘On bar close’ vs. ‘On price change’. The Calculate setting affects how often an indicator is update/calculated, but how does the Calculate affect trailing rules?
April 8, 2022
This demonstrates using two alternative locations for a stop-loss in case the amaSuperTrendM11 indicator is on the wrong side of the market. Initially, the stop-loss is placed using a 20 tick offset. If the swing low is on the correct side of the market then the stop-loss will move to it, but only if the SuperTrendM11 is on the wrong side of the market. Then, when the SuperTrendM11 switches to the correct side, the stop-loss starts trailing it. This shows how to set up the Trigger On conditions to test the swing low plot and SuperTrendM11 plot are at valid prices for a stop-loss.
April 1, 2022
This is a continuation of the BloodHound workshop on Mar 31, 2022 to finish setting up the entry and trailing stop-loss orders. The entry is a market order. The trailing stop-loss follows the swing low for long trades.
This also discusses what is needed when wanting to set the stop-loss price to the lowest of X bars after a swing point occurs. The issue is swing points occur at random intervals, therefore BlackBird doesn’t know how many bars back the last swing low occurred.
March 25, 2022
No topics to post.
March 18, 2022
This demonstrates opening a stop entry order only as long as BloodHound trade signals continue to occur from one bar to the next. Also, as long as the trade signals continue to print the stop entry order will trail/follow bar prices. This can easily be adjust to follow a moving average. When the trade signals end (stop printing) the entry order is canceled. Once the trade signals start printing again, the entry order is placed once again.
March 11, 2022
This demonstrates how a stop-loss can be widened (moved backwards) once a certain profit level is reached. More specifically, in this example the last contract is a runner (no PT), and when all profit targets (PT) are filled the stop-loss for the runner is widened away from the market price to create a larger buffer between price and the trailing stop-loss. The order sets are defined as follows.
Order Set A: PT 2 x ATRs, Stop-loss at EMA100.
Order Set B: PT 4 x ATRs, Stop-loss at EMA100.
Order Set C: Runner, Stop-loss at EMA100.
Stop-loss Trailing Rules:
When PT-A is filled, the stop-losses start trailing the EMA20.
When PT-B is filled, the last stop-loss widens to trail the EMA50.
March 4, 2022
No topics to post.
February 25, 2022
No topics to post.
February 18, 2022
No topics to post.
February 11, 2022
This explains what is necessary to use/set up indicators on secondary timeframes within BlackBird. And changes by NinjaTrader between NT 7 and NT 8 are discussed.
This demonstrates how to set up a series of trailing rules that moves a stop-loss from one VWAP line to the next higher VWAP line as price moves higher and crosses each line, for a long trade. And, vice versa for a short trade. Essentially, the stop-loss steps from one VWAP line to the next. This concept would also work for the Pivot indicator, or a custom multi-band Bollinger or Keltner indicator.
This discusses the operational differences and terminology differences between using the entry order’s Trailing Rules vs. the ‘Place After’ option. There seems to be a misunderstanding that the ‘Place After’ option can act like or similar to a trailing rule, for entry orders. This dives in deep to explain the technical differences, and correct terminology to be used.
February 4, 2022
This demonstrates a workaround for the following time based conditions;
1) No new trades after 3pm EST (1 hour before markets close).
2) Allow positions still open after 3pm, that are profitable, to play-out/remain open. If the position is in a loss, at that time, then flatten.
3) Flatten any open position a few minutes before the market closes.
January 21, 2022
No topics to post.
January 28, 2022
This example takes an ATM with 3 Targets and Custom Stop Strategy Parameters with 2 Steps setup, and shows how to convert it into BlackBird.
This shows how to take the stop-loss’s ‘Previous Bar Low/High (Trailing)’ quick list setting and modify it so that the stop-loss only trails when the market has moved a minimum distance away from the prior bar’s low price. And, vice versa for a short trade.
The question was asked how to initially start a stop-loss using the chart’s timeframe to place a stop-loss at the swing low point, but trail it using swing low points from a higher timeframe. This discusses what is necessary to accomplish that.
January 14, 2022
This demonstrates how to flatten a position X number of minutes after the entry order is filled, without having a stop-loss. Instead of a stop-loss trailing rule, a profit target trailing rule is used to create the time based exit.
In this example we show how to switch the stop-loss trailing from the EMA 100 to the EMA 50, and finally to the Parabolic SAR indicator. As the unrealized profit increases the stop-loss trailing will switch from one indicator to the next indicator, and so on.
A second part of this question shows how a stop-loss can be widened automatically using trailing rules.
This takes a simple SMA crossover system, and backtests it using a 4xATR profit target with a 1.5xATR trailing stop-loss.
This demonstrates how to widen a typical fixed distance trailing stop-loss as the unrealized profit increases. The stop-loss starts trailing at 10 ticks. When profit reaches 20 ticks the trailing widens to 15 ticks behind price. When profit reaches 50 ticks the trailing widens to 20 ticks.
This discusses the three main elements that cause long startup and loading times.
January 7, 2022
This demonstrates how to set a stop-loss to the closer distance/price of either 20 points away or an indicator plot. In this example the indicator is the amaOpeningRange (by LizardTrader.com) OpeningRange-Midpoint plot.
December 17 - 31, 2021
No workshops during the holiday break. Merry Christmas and happy New Year!
December 10, 2021
This discusses a semi-complex set of rules and requirements for setting the stop-loss distance, which then validates if the trade is permitted. The Order Management Options menu and Money Management ≫ Risk Per Trade components are used. The following is evaluated for a long trade:
1) Determine a support level (for the stop-loss) by evaluating which indicator is farther away. Either the swing low or the ATRTrailingStop indicator. This can be accomplished, as explained, but the trade validation rule #3 would not be possible so only the Swings indicator is used. Therefore, no evaluation of the two indicators is made.
2) The Stop-loss must be at least 10 ticks minimum.
3) The Stop-loss must not exceed 40 ticks away, as set by the indicator. Otherwise, skip the trade.
4) Automatically increase the number of contracts to set a $2,000 risk per trade.
November 5 - December 3, 2021
No topics for today (also happy 🦃 Thanksgiving ).
October 29, 2021
This explains how to set a stop-loss to the closest price of either an 18 tick offset or the SMA 33. Then trail the SMA 33 when possible. Finally, trail the SMA 20 after 50 ticks of profit.
October 22, 2021
This is a continuation of the BloodHound workshop on Oct.21, 2021 to finish setting up the entry and profit target orders. The entry is a market order. The profit target is sometimes 10 ticks. The profit taking is controlled by a set of conditions.
1) When an ST signal and no LT signal occurs, take a 10 tick profit.
2) When ST and LT agree in direction, stay in the trade until a reversal signal occurs. There is no defined profit target value, therefore the profit target order needs to be moved out of the way.
3) If LT stops agreeing with ST, during the trade, then close the position if the unrealized profit is 10 ticks or more.
Stop-losses are not used.
October 8 and 15, 2021
No topics for today.
October 1, 2021
Add a Time Delay Between Several Market Entry Orders
This shows how a 1 second delay between market entry orders can be accomplished. e.g. If you wish to trade 4 contracts, the first contract is submitted and filled immediately. The second contract will wait 1 second and then be submitted. The third contract will wait 2 seconds before being submitted, and the fourth contract will wait 3 seconds before being submitted. To accomplish this delay the Entry order » Place After option is used in combination with the Delay trigger.
September 24, 2021
This topic discusses how to use the Entry order » Place After option to set up automated scale in order sets. Two trigger types can do this, the BloodHound Signal trigger and the Trade Signal Trigger. This discusses how and which one should be used depending on how the signal source is set up.
Lastly, the Entry order » Cancel After option must be used as well. An explanation and example is provided.
September 10, 2021
No topics for today.
September 3, 2021
This demonstrates how the profit target Trailing Actions can be set up to adjust the profit target distance depending if a trade occurs below a moving average or above. For a long position, if the trade occurs above the moving average then the profit target will be 20 ticks. If the trade occurs below the moving average then the profit target shall be reduced to 10 ticks.
August 27, 2021
This demonstrates how stop-loss trailing can be restricted so that the stop-loss only moves/trails on bars that have a BloodHound signal, instead of a signal enabling trailing for the remainder of the trade.
This is a continuation of the BloodHound workshop on August 26, 2021 to finish setting up the entry and stop-loss orders. The entry order is a simple market order. For a long trade, the stop-loss is to be set to the low of the last pullback bar, not the signal bar.
August 20, 2021
This is a continuation of the BloodHound workshop on Aug.19, 2021 to finish setting up the entry, profit target, and stop-loss orders. A key lesson in this example is learning how to set up a trailing rule to flatten the trade if the market closes on the opposite side of a moving average.
The entry is a market order. The profit target is 42 ticks. The stop-loss is 10 ticks, and moves to breakeven +2 after 20 ticks of profit. If the market moves below the EMA 8 (long trade) then flatten the position.
July 23 & 30 and August 6 & 13, 2021
No topics for today.
July 16, 2021
This demonstrates how BlackBird can place an entry order while a bar is forming (vs. waiting for the bar to close). This uses the template from the BloodHound workshop on July 15, 2021, which generates signals as the bar is forming. If price moves upward toward the closed bar’s high a long signal is generated and a buy stop entry order is placed 1 tick above the high. If price moves downward toward the closed bar’s low a short signal is generated and a sell stop entry order is placed 1 tick below the low.
July 9, 2021
This is a continuation of the BloodHound workshop on July 8, 2021 to finish setting up the entry, profit target, and stop-loss orders. Two BlackBird template files are created, because the orders and order management is different between the two entry times.
Entry #1 enters at 1:30am using the corresponding BloodHound entry signal. Three order sets with different profit targets, and a 13 tick stop-loss are created. An exit signal at 5:30am is setup in the BloodHound Signals menu.
Entry #2 enters at 9:30am using the corresponding BloodHound entry signal. Two order sets, each with a 100 tick profit target and a trailing rule that closes the order if it is still open, are created. One position is closed at 10am via a BloodHound exit signal. The other position is closed at 11:30am via a different BloodHound exit signal. No stop-loss is used.
June 25 and July 2, 2021
No topics for today.
June 18, 2021
This discusses what happens when two or more BloodHound templates are used as Trade Signal sources and an indicator based Trade Signal source. How they all work together is explained.
To address a secondary question, how is a different BloodHound file (different from the Trade Signal input) used to trigger a scale-in order.
This example uses an SMA 14 to identify a market pullback for a “with the trend” type of trade. A profit target trailing rule is used to identify when the low price of a bar goes below the SMA, to signal a pullback, and then the profit target can be moved when that occurs.
This shows how to use the scheduling option, and a BloodHound time based exit signal to close out a position based on a fixed time of day.
June 11, 2021
This demonstrates how to analyze the bar direction of the signal bar to determine which price a limit entry order will be placed at. For this example, the entry order is basically to be placed for a pullback in price when a signal occurs. If a long signal occurs on an up bar, then place the limit entry order at the previous bar’s closing price (to wait for a pullback). If a long signal occurs on a down bar, then place the limit entry order at the current bar’s closing price. The down bar is considered the pullback in price. The opposite conditions are used for short signals. The key to this is using the Place After and Cancel After options within the entry order menu.
June 4, 2021
This is a continuation of the BloodHound workshop on June 3, 2021 to finish setting up the entry, profit target, and stop-loss orders. This discusses the various ways the entry order can be placed and the different settings involved depending on the style of trading. The profit target is a simple 40 tick. The stop-loss is offset 5 tick from the ATRTrailingStop indicator.
This example creates a stop entry order 4 ticks above the bar high so that the market must continue its up trend to fill the order, for a long trade. The stop-loss initially starts at the EMA 13. Two bars later, the stop-loss trails the prior bar’s high -3 ticks (3 ticks below the high price).
May 28, 2021
The main purpose of this topic is to show how to setup an entry order to follow an EMA 40. Also, included is loading a BloodHound template to automatically submit the entry order when three EMAs are stacked on top of each other in the correct order. Please note, the BlackBird file requires the BloodHound file to be downloaded as well.
May 21, 2021
This demonstrates how an ATR threshold value can be used to set the profit target (PT) at 10 ticks or 20 ticks. The PT starts at a 10 tick offset. If the ATR goes above 6, then the PT increases to 20 ticks. Later, another trailing rule is added to bring the PT back to 10 ticks if the ATR drops back below 6.
April 30 and May 7 & 14, 2021
No workshops on these dates.
April 23, 2021
This is a continuation of the BloodHound workshop on Apr. 22, 2021 to finish creating a scalping 4 tick profit target and 0.75 ATR stop-loss.
April 16, 2021
This shows how a position can be flattened 1 minute after it is opened, using the Delay trigger and the Flatten Position action in a trailing rule.
This demonstrates how trailing rules can determine whether the previous bar was upward or downward, and then either add 1 tick to the close price of the bar, or subtract 1 tick from the close, so that the stop-loss is placed 1 tick within the bar’s body and offset from the closing price.
April 2, 2021
This is a continuation of the BloodHound workshop on Apr. 1, 2021 to finish setting up unique stop-loss and profit target movements. After the BloodHound trade signals are added to BlackBird, which are basically potential trend reversal signals, the following orders are created.
Order set A: A market entry order. 100 tick profit target, and a stop-loss that is offset 1 ATR away from the daily high or low price.
- If the limit entry order, of order set B, is filled the profit target moves to 10 ticks offset from the average entry price.
Order set B: This is a cost averaging secondary order, in case the market does not reverse directions. A limit entry order is placed 1 tick inside and offset from the daily high or low price. The profit target is 100 ticks, and the stop-loss is offset 1 ATR away from the daily high or low price.
- When the bar that fills the entry order closes, if a new daily high/low is created by this bar then both A & B stop-losses are moved further away using the latest daily high/low price.
- If the entry order is not filled after 2 bars, cancel the entry order.
- If profit target A is hit. Move the stop-loss to the average entry/breakeven price.
March 19, 2021
This explains how to access the bar prices of the developing bar, instead of the bar that is closed. For example, if you want to place an entry order at the open price of the developing bar, the Calculate property must be set to ‘On price change’, as discussed in this clip.
This demonstrates how to create a three stage stepping stop-loss that move one time when the 40 tick, 100 tick, and 200 tick profit levels are hit. At 40 tks of profit, the stop-loss is moved to breakeven +20 tks. At 100 tks of profit, the stop-loss is moved to breakeven +70 tks. At 200 tks of profit, the stop-loss is moved to breakeven +180 tks.
This discusses and demonstrates the pros and cons of incorporating a secondary entry signal, which will either add another position to an existing trade or it will open a new position, in addition to your primary trade signal.
Not mentioned in this clip: The better solution, for how the question was described, would be to run two BlackBirds. BlackBird #1 would trade the primary trade signals, and BlackBird #2 would trade the secondary trade signals.
March 12, 2021
This is a continuation of the BloodHound workshop on Mar. 11, 2021 to finish setting up the unique entry order placement. This demonstrates how to create Trailing Action rules that will move an entry order to the upper price of a bar’s body for a long trade. Either the open price or close price, whichever is higher. Or, move the order to the bottom price of the body for a short trade. This concept can also be used for profit targets. It probably will not work for stop-losses.
February 19 & 26, and March 5, 2021
No topics today
February 12, 2021
This is a continuation of the BloodHound workshop on Feb. 11, 2021 to finish setting up the Oops trade, along with some extras. This setup is designed for daily charts, as noted in the question. The order settings are as follows. The entry is a stop placed at yesterday’s low price for a long trade, and at yesterday’s high for a short trade. The entry is canceled if not filled by the end of RTH. The profit target is 6ATR. The stop-loss is 6ATR with trailing.
Included are three exit conditions. #1, Exit after X days/bars at close of market. #2, The “Bailout exit”, as described by Mr. Williams. If the next day’s open is profitable, then close the position. Otherwise, keep the position open. #3, Exit if loss exceeds $2000.
January 29 & February 5, 2021
No Topic to Post
January 22, 2021
This discusses when the Profit or Loss trigger can be used vs. the Delay trigger, and things to consider when the Profit or Loss trigger is used for order sets that scale into a position. In this specific situation, the Profit or Loss is used to trigger/execute order sets C, E, and G, after order set A has its stop-loss hit. The intention for order sets C, E, and G is to try and recoup the loss from order set A if the market keeps moving significantly past the stop-loss for A.
January 15, 2021
Several common questions are answered in this video.
1) Why can’t I change the settings/properties in the Strategy window?
2) Why is the Go Long or Go Short trade button disabled? I want to add more contracts to my position.
3) I made a change to the profit target or stop-loss. Why do I not see that change in the Dynamic Planner or when using the Scale In button?
4) Why is BloodHound named as BlackBird when I see BloodHound signals on the chart? And, how do I change the BloodHound signal colors?
January 8, 2021
This example uses the amaIchimokuKinkoHyo indicator from LizardTrader.com. This shows how to switch a stop-loss from trailing the Ichimoku Kijun-sen plot to the Tenkan-sen plot after 2ATRs of profit is achieved. Also, another condition was added. In the first stage of the stop-loss, trail either by a 2ATR offset or use the Kijun-sen plot, using whichever is closest to the market price.
December 18, 2020 - January 1, 2021
No workshops during the holiday break. Merry Christmas and happy New Year!
December 11, 2020
This is a continuation of the BloodHound workshop on Dec. 3, 2020 to incorporate the ‘ATRTrailingStop System’ signals into BlackBird and set up the entry order and stop-loss trailing.. The stop-loss is initially placed at the signal bar’s low -1 tick offset, because the ATRTrailingStop indicator has not yet flipped below price. A Breakeven -1 tick trailing rule is triggered when 3 ticks of profit occur. After that, the stop-loss trails the ATRTrailingStop. In addition, the Risk per Trade money management options is set up with a 2% of account risk.A minimum of 2 contracts is to be traded, so the Order Set » Quantity Scaling » Allow Downscaling option is disabled.
This is a continuation of the BloodHound workshop on Dec. 10, 2020 to incorporate the ‘Bar Hi/Lo Break w/ EMA trigger signal’ signals into BlackBird and set up two cancelation conditions for the entry order. The entry is a Stop order type placed above the signal bar for a long trade. The trade setup becomes invalid after 5 bars if the market doesn’t fill the entry, thus the Entry order » Cancel After option is used to cancel the order. Plus, if the EMA 10 indicator turns down on a long setup, that also invalidates the trade setup and thus the entry order is canceled. To determine the direction of the EMA, BloodHound logic is used to signal when the EMA turns up or down.
November 20, 2020
This topic demonstrates how discretionary traders can place conditions on entry orders which cause the order to wait until the indicator conditions have occurred and then BlackBird will submit the entry order to the market. The amaATRTrailingStop and amaTriggerLines indicators are used, from LizardIndicators.com. The Go Long button, on the Trade Controls panel, can be pressed at any time, however the buy entry order will wait (it goes into a pending state) until the following conditions are true before being submitted to the exchange. For a buy order, the close of the bar must be above the TriggerLines indicator, and the close of the bar must be below the red ATRTrailingStop line. When price is below the red ATRTrailingStop line a Buy Stop entry order is placed at the ATRTrailingStop line, and waits for price to reverse upward and fill the stop entry order. If the Go Long button is pressed and price is above the blue ATRTrailingStop line, then the entry order remains in a pending state.
November 13, 2020
This topic demonstrates the possible issues of using an indicator to set the price of a stop-loss. A swing point indicator is used to demonstrate the issue, and a simple solution is provided that will work for any indicator being used to set the stop-loss price.
October 16, 2020
This topic analyzes the Sim22 ValueChart indicator, found on Futures.io. This indicator displays information that looks like chart bars, as opposed to plot lines, therefore a part of this topic is determining if the indicator outputs the bar data. The goal is to move the stop-loss to breakeven when the high of the bar crosses above the zero line during a long trade, or if the low of the bar crosses below the zero line during a short trade.
October 9, 2020
This example creates 3 order sets for 2 profit targets and a runner. The 2 profit targets are set to 10 ticks and 20 ticks. The stop-losses start at 15 ticks. After 5 ticks of profit is achieved the stop-losses move to 5 ticks. After 10 ticks of profit is achieved the stop-losses move to breakeven +2 ticks. Lastly, the stop-losses start trailing the Parabolic SAR.
October 2, 2020
No Topic to Post
September 18, 2020
No Topic to Post
September 25, 2020
No Topic to Post
September 11, 2020
This example demonstrates how to create trailing rules that will move the stop-loss to breakeven when the first profit target is filled. Afterwards, the stop-loss will start trailing the EMA 17. Also, given is a detailed explanation of the default behavior for stop-loss trailing in that stop-losses do not move backwards unless settings are deliberately disabled and changed.
September 4, 2020
This is a continuation of the BloodHound workshop on 9/3/2020 to incorporate the EMA Bounce signals into BlackBird and set up the limit entry order. The entry order is placed at the EMA 18, and then a trailing rule is created so the entry order follows the EMA 19, provided the entry is not filled on the signal bar.
This demonstrates how to create a multi-stepping stop-loss before it switches to a standard 5 tick trailing behind price.
a) The first stop-loss move occurs at 10 ticks of profit. Then the stop-loss moves to the entry price -5 ticks (for a long trade).
b) The second stop-loss move occurs at 15 ticks of profit. Then the stop-loss moves to breakeven +2 ticks.
a) After that the stop-loss switches to a standard 5 tick trailing stop-loss.
This demonstrates how to flatten a position if by the 5th bar of a trade the trade is in a loss.
August 28, 2020
August 21, 2020
Creating Staggered Entries (Entries on Different Bars) Plus Various Questions
The staggered entries in this specific case places a Stop/Limit (Auto selected) entry order 3 ticks above the bar high, for a long position, on the 1st bar. On the 2nd bar, a second Stop/Limit (Auto selected) entry order is placed 2 ticks above the bar high, for a long position. To do this the Place After option is used to delay the submission of the second entry order. Both orders use a trailing stop-loss that follows the bar low -2 ticks for a long position.
The other questions discussed are as follows.
1) If I would like to enter a trade using a Market order, using the same trailing strategy as above, do I need to set up a separate Order Settings to do so?
2) Can both order settings (Stop/Limit and Market entry) be displayed on the chart trader panel at the same time or do I have to enable two BlackBird strategies to do so?
3) Can two BlackBird strategies be enabled/running on the same chart at the same time (e.g. one for Stop/Limit entries and another for Market entries) or is this not advisable? How is this best done for manual trade entries and BlackBird trailing?
4) I often get this error message, either when the order first gets filled or during trailing: “Stop price can’t be changed below the market. Affected Order: BuyToCover 1 StopMarket @ ___”. Why is that?
5) How do I disable the Y-axis auto scaling in the chart window that BlackBird is running on? e.g. When moving the profit target very far out, the chart gets squashed as a result.
This is a work-around solution and therefore not recommended. The question is “Is it possible to re-enter the trade again, in the same direction, if the profit target is filled?” This demonstrates how to use the Place After and Cancel After options on the entry order menu to create a chain of entry orders that will open another position when the previous position’s profit target is filled. The chain of events will stop if one of the stop-losses is hit.
August 14, 2020
Shark Week. No workshop
August 7, 2020
No Topic to Post
July 31, 2020
No Topic to Post
July 24, 2020
This demonstrates how to automatically adjust the profit target price if the average entry price changes due to cost averaging into a position (scaling-in). In this example 6 order sets are created. The first order set opens the position, and the other 5 order set’s entry prices are spaced 12 ticks apart from each other. All of the profit targets are set at 20 ticks offset from the average entry price.
July 17, 2020
This is a review of the Money Management » Trade Fit feature, that automatically scales up or down the number of contracts to reach a maximum risk per trade, and how to control which order set automatically receives more or less contracts (i.e. which profit target gets more contracts).
July 10, 2020
This example will demonstrate setting up 2 order sets and activating the stop-loss trailing when price reaches 1 tick from the first profit target. Order set A has a 1ATR profit target, and a 2ATR stop-loss. When the market gets within 1 tick of the profit target, the stop-loss moves to -2 ticks below the low of the last bar. Order set B has no profit target. It is a runner. The stop-loss does not trail until the first profit target is filled. After the market moves 4 ticks above the amaSuperTrendU11 indicator, the stop-loss starts following the amaSuperTrend.
This will walk you through the process of creating a typical BlackBird setup. A BloodHound template from the July 2nd, 2020 workshop is used for the trade signal source. 3 order sets are created. 2 order sets use ATR profit target, and the third is a runner with stop-loss trailing. The stop-losses are set to start trailing after the first profit target is filled.
This video will help you understand the purpose and what the entry order Place After & Cancel After options are used for.
July 3, 2020
No Workshop. 🧨 Happy 4th of July Holiday
June 26, 2020
This demonstrates how to attach an entry order and stop-loss to a moving average (EMA 20). Later on, the issues of indicators being on the wrong side of the market for setting orders is discussed and various solutions are provided. The entry is a limit order that will follow the EMA 20 to be filled on a price pullback to the EMA. One contract has a 20 tick profit target, and the second contract is a runner. The stop-loss is initially placed at 20 ticks away, and then starts trailing 10 ticks behind the same EMA 20.
June 19, 2020
In this example an entry order and profit target are set to various Keltner channel lines, and a trailing stop-loss. Two Keltner channel indicators are used. One has an Offset Multiplier of 1, and the other an Offset Multiplier of 2. For a long trade, a limit entry order is placed at the lower Keltner channel. The profit targets are placed at the two different upper Keltner channel lines. The stop-loss starts as a 1ATR -2 ticks offset. After 3 bars are closed, the stop-loss starts trailing the lowest low of the last 3 bars -2 ticks.
Afterwards, the entry orders are changed to stop market entry orders that will follow/trail price if the market moves in the wrong direction and thus does not fill the entry orders.
June 12, 2020
This uses the amaOpeningRange and amaSuperTrendU11 from LizardIndicators. This demonstrates setting the initial stop-loss price at the opening range midpoint plot, and then setting up a trailing rule to follow the SuperTrend indicator after that. What is also discussed is setting the profit target offset distance based on the distance of the opening range. Later it was noted by a customer that the premium OpeningRange indicator has that distance calculated for BlackBird to use.
May 15, 2020
This takes an indepth look at using the stop-losses ‘Swing Low/High (Trailing)’ quick list menu item. The Swing Low/High (Trailing) quick list item automatically sets up the stop-loss to be placed at the swing low, and then trails the stop-loss higher as higher swing lows develop.
May 1, 2020
This is a continuation of the BloodHound workshop on 4/30/2020 to incorporate the Ichimoku signals into BlackBird. For a long signal, the stop entry order is placed at the highest high of the last 9 bars. The stop-loss is 2-ATR’s with a breakeven +1 tick, and a flatten trailing rule when the close price crosses the Kijun line.
April 3, 10, 17, 2020
No topics to post
March 13, 20, 27, 2020
No topics to post
March 6, 2020
This demonstrates how to set up a market entry order that opens the position, plus 3 scaling-in stop entry orders at 25 ticks, 50 ticks,, & 75 ticks to cost average into a profitable position. The stop-loss for each order set is initially set at 30 ticks. When the first scale-in stop entry is filled, the stop-losses move to the average entry price. As each stop entry order is filled, the stop-losses are moved to the new average entry price. For the profit targets, two scenarios are shown. First, place all profit targets at 100 ticks from the originating market entry order’s price. And second, set all targets as typical 50 tick profit targets.
February 28, 2020
This demonstrates how to use a swing indicator to identify pullback bar prices, and then move a stop-loss to that pullback price. e.g. When in a long trade, use the Swing Highs & Lows indicator to identify the lowest price when renko bars reverse down, forming a pullback, and then move the stop-loss up to that swing low point once price moves back up in the trend direction.
February 14 & 21, 2020
No topics to post
February 7, 2020
This is a continuation of the BloodHound workshop on 2/7/2020 to incorporate the CT VWAP signals into BlackBird. The profit target is set to the VWAP line, and a trailing rule is created so the profit target will move with the VWAP line. The stop-loss is set to the VWAP Std. Dev. #3 line, and a trailing rule is created.
January 31, 2020
No Workshop Today
January 24, 2020
This demonstrates how to use the Trigger On » ‘Price vs Indicator’ event to detect when the close price crosses an EMA, to then flatten the trade, in a trailing rule. Then we show how to make the stop-loss trail the EMA.
This demonstrates various ways to set a stop-loss to the Donchian channel indicator. The first part sets the stop-loss to the lower and upper channel lines, with trailing. The second part shows how to set the stop-loss on the Donchian Mean plot, with trailing.
January 17, 2020
This shows how to adjust a profit target after a second contract is scaled-in, thus lowering the average entry price. In a long trade, the first entry order places a 16 tick profit target. If the market moves against the trade, a second entry is waiting 16 ticks below the first entry order, thus creating an 8 tick lower avg. entry price. If the second entry is filled, the first profit target is to be lowered/pulled down to 8 ticks above the avg. entry price, in an attempt to to get out of the trade still with 16 ticks total.
December 13, 2019 - January 10, 2020
No workshops during the holiday break. Merry Christmas and happy New Year!
December 6, 2019
This is an overview of how to take a BloodHound template file from one of the workshops and set it up as the trade signal source for BlackBird. This also shows how to load the chart template, from the BloodHound workshop, into the chart and then add BlackBird to the chart afterwards. A simple ATR based profit target and trailing stop-loss order set are created to demonstrate BlackBird opening a position from the BloodHound template signals.
This example builds the following 2 contract order sets with a runner contract. The first order set “A” has a 10 tick profit target. The second order set “B” is a runner. Both contracts/order sets have a 10 tick stop-loss. The stop-loss tightens to 5 ticks when 5 ticks of profit is reached. When profit target A is filled, the remaining stop-loss moves to breakeven +1 tick. Then the stop-loss starts trailing the Ichimoku Kijun-Sen line of the amaIchimokuKinkoHyo indicator from LizardTrader.com. You must have the amaIchimokuKinkoHyo indicator installed to open this BlackBird file.
November 29, 2019
No Workshop - Thanksgiving Holiday
November 22, 2019
This video discusses the various order states, explains what a Pending order is, and how an order gets into a Pending state. Simple stated, a Pending order occurs when using the Entry order » Options tab » ‘Place After’ option.
November 15, 2019
This will demonstrate how to incrementally move a stop-loss in steps, and then finally trail the Ichimoku Tenkan Sen plot. The initial placement for the stop-loss is at 12 ticks away. When 7 ticks of profit is reached, move the stop-loss to 5 ticks from entry price. When 15 ticks of profit is reached, move the stop-loss to breakeven +2 ticks. At 16 ticks of profit, start trailing the Ichimoku Tenkan Sen line.
November 1, 2019
October 25, 2019
This discusses how the ATR indicator and the Long/Short Factor setting within the Offset section is essentially a percentage or ratio distance.
October 18, 2019
No Training Type Questions to Post
October 11, 2019
This demonstrates how to use one BloodHound template file for the Entry signals, and a different BloodHound template file for Exit signals. Plus, it explains how multiple BloodHound template files setup in the Trade Signals section work together and are combined together.
A quick demonstration of the various ways you could cancel a Stop Entry order (e.g. cancel after x number of bars, ticks of profit, time, etc).
This demonstrates how to setup a trailing rule that waits for 3 hrs to pass and then checks if the position is profitable. If the position is profitable then it is flattened.
This example builds the following order set. Order set A has a 10 tick profit target. Order set B is a runner, and both contracts have a 12 tick stop-loss. The stop-loss tightens to 7 ticks when 5 ticks of profit is reached. When profit target A is filled, the remaining stop-loss moves to breakeven +1 tick. Then the stop-loss starts trailing the Swing point indicator.
October 4, 2019
This topic discusses how BloodHound Exit signals and stop-losses interact with each other. How they may affect each other, and how trailing rules can do the same thing as Exit signals.
September 27, 2019
This shows how to use the ‘Profit or Loss’ trigger to monitor a trades total net PnL during the trade. Two stop-loss trailing rules are created. One looks for a $250 profit and the other looks for a $250 loss, to flatten the position.
September 20, 2019
This example uses the BloodHound template file from yesterday’s BloodHound workshop. The focus is on placing the profit target at the prior swing price. For a long position, the profit target is placed at the swing high price, and vice versa for a short. A short review of the Swing Highs & Lows indicator is given as well.
September 13, 2019
This example demonstrates how to flatten a position, using a stop-loss trailing rule, when price either closes below/above a swing line, or price closes below/above the EMA 50. This is accomplished by using the Trigger On » Price vs Indicator trigger. For a long position, when the Close price goes below the Swing low plot or the EMA 50 will flatten the position. Using a BloodHound Exit signal is a better solution, and the reasons why are discussed in this video.
No, not directly. Unwanted BloodHound signals should be removed/controlled in the BH logic, not by BlackBird. However, this topic demonstrates a workaround that uses a secondary BloodHound template.
September 6, 2019
This example shows how to close out a trade when an oscillator type indicator crosses a level. In this case the Williams %R indicator is used.
August 30, 2019
This example shows how to create a fairly common 3 contract order set with 10tk, 20tk, and 30tk profit targets, and 1.8xATR trailing stop-losses. And, then modify it so that the 3rd contract becomes a runner(no profit target), and the 2nd and 3rd stop-losses start trailing only after the 1st profit target is hit.
August 23, 2019
Change the P/L Exit Value if Scale-in Contracts are Added to a Position
This example shows how to setup trailing rules that identify when a $210 profit or loss has occurred, but only after scale-in contracts have been added to the position. Order set A is the primary position that uses a 40 tick profit target and stop-loss, which is opened on the first BloodHound signal. The hope is for that position to close out without any other contracts being scaled-in. However, other BloodHound signals may occur while the first position is open, to lower the average entry price, in which case up to 3 more contracts may be scaled-in (order sets B, C, & D). If scale-in contracts are added to the position, then the position is to be closed out when a $210 profit or loss occurs.
How to close an open position if the market moves less than 5 tick within 15 seconds of opening. In other words, if the market does not make a big move fairly quickly after a position is opened then flatten the trade.
August 16, 2019
No Training Type Questions to Post
August 2, 2019
This video demonstrates a typical scenario of creating an automated scale-in order. To do this, the Entry order » Place After option and Cancel After option are used. In this example the scale-in order has three requirements. #1) Wait for the existing position’s stop-loss to move to breakeven. #2) The trade (unrealized P/L) must be profitable. #3) Enter on the next trade signal.
July 19, 2019
This demonstrates how to setup BlackBird to allow multiple entries (re-entries) on the same bar, in case the stop-loss is hit. A stop entry order is created to be placed 1 tick above the bar Open price when the live market price goes 2 ticks below the bar Open. When the market price goes up and the entry order is filled, a stop-loss is placed 2 ticks below the bar Open. If the market goes back down and hits the stop-loss, the stop entry order will be placed again immediately afterwards. The key settings to make this work is the NinjaTrader » Calculate property, and BlackBird Options » ‘Allow re-entry on same bar’ setting.
July 5, 2019
No Workshop. 🧨 Happy 4th of July Holiday
June 28, 2019
No Training Type Questions to Post
June 21, 2019
June 14, 2019
This is a unique trailing rule set up. For a long trade, as each bar closes after the entry order is filled, the stop-loss moves to the low of one additional bar further back from the entry bar. e.g. When a position is opened the stop-loss is placed at the low of the signal/entry bar. When the next bar closes the stop-loss is moved to the bar low of one bar behind/past the entry bar. When the second bar closes the stop-loss is moved to the bar low of two bars behind the entry bar. etc.
June 7, 2019
This is an introductory look at stop-loss trailing rules. Trailing rules for entry orders and profit targets operate the same. The Quick List of trailing stop-loss orders is used to illustrate and analyze how trailing rules work.
May 31, 2019
No Training Type Questions to Post
May 24, 2019
May 17, 2019
May 10, 2019
This is a simple example that takes a BloodHound system, which is designed to generate signals intra-bar, and show how to setup BlackBird to then submit orders intra-bar. Intra-bar means while the bar is building, versus waiting for the bar to close.
This example demonstrates how to scale into a position if the market moves against the initial trade, and then move the profit targets to the new average entry price as each scale-in contract is filled. The hope is the initial position will have its profit target filled for a win. But, if the market moves against the trade then additional cost averaging scale-in positions will be placed in an attempt to exit the trade at breakeven. Exiting at breakeven is accomplished by moving the profit targets to each new average entry price as each additional scale-in position lowers the average entry price.
This will show how to set up entry orders as scale-in contracts when additional BloodHound signals occur. And, this shows how to move the profit targets to the average entry price every time the average entry price change, because of the scale-in contracts.
April 26, 2019
No Training Type Questions to Post
April 19, 2019
This example uses the BloodHound signals from the 4/18/19 workshop. The orders are set up as follows for a long trade. The first entry is a market order, with 3 profit targets on the amaPivotsDaily R2, R3, and R4 lines. The stop-losses are placed 1xATR below the furthest of the amaPivotsDaily DP, PP, or CP lines. Trailing rules are used to evaluate the furthest pivot line away, and move the stop-loss to it. The second entry order is a limit placed at the amaPivotsDaily R1 line. It’s profit target is placed at the furthest of the amaRangeProjectionsDaily ADR20 or ADE20 lines. Trailing rules are used to evaluate the furthest pivot line away, and move the target to it. The stop-loss is placed, at the same location as the other orders, 1xATR below the furthest of the amaPivotsDaily DP, PP, or CP lines.
April 5, 2019
No Training Type Questions to Post
March 29, 2019
This shows how to use SiChameleon to enter trades at the recent High or Low price. The entry is triggered using signals from a BloodHound template.
March 8, 2019
How to setup a stop-loss to trail the lowest low of the last 3 bars for a long trade, and the HH of the last 3 bars for a short trade.
March 1, 2019
This is a quick review showing how the Auto Trailing switch works..
February 8, 2019
This will show how to use different indicator parameters during the life cycle of a stop-loss. E.G. A wider SuperTrend setting (Offset Multiplier of 5) may be wanted, when a trade position is first opened, until at least 10 ticks of profit is achieved. Then, after 10 ticks of profit, a tighter SuperTrend setting (Offset Multiplier of 1) may be wanted, to tighten up the trailing stop-loss. This example uses the amaSuperTrendU11 from LizardIndicators.
This example quickly shows how to enable the Money Management » Risk Per Trade option, which is used to automatically adjust the number of contracts per trade based on account size and the risk amount. For a full explanation please see this video Daily Max Profit / Loss and Other Money Management Settings or Overview of the Management Settings Buttons.
February 1, 2019
How can the largest offset distance, of either a 55 period ATR or 200 period ATR, be used for the stop-loss price when the Initial Placement supports one indicator setting? While BlackBird does not directly support input choices like this in the Initial Placement, a workaround can be created using the Trailing Actions component. This example shows how to set up Trailing Rules that will move the stop-loss to the largest/furthest distance away of either ATR periods. Other important information related to this topic is discussed as well.
January 25, 2019
This covers two topics in one. First is the broader topic of how to convert an NT 8 ATM strategy over to BlackBird. We take the screenshots of a customers ATM strategy, and show where each parameter/component of the ATM is set up in BlackBird’s Order settings interface. The ATM has Percentage selected in the ‘Parameter type’, and since Blackbird does not support percentage at this time, an ATR offset is used instead.
The second part show a workaround for using percentage as an order offset distance. All the order settings are adjusted to switch from an ATR offset to a percentage offset.
January 18, 2019
No Training Type Questions to Post
January 11, 2019
This example shows how to initially set the stop-loss price to an EMA, and then when the market is far enough away from the amaSuperTrend indicator start trailing the SuperTrend. This topic also uses the BloodHound template from the January 10, 2019 BloodHound workshop. The specific stop-loss settings used in this topic are:
1) The initial stop-loss placement is set 4 ticks below the EMA 55.
2) After the Close price is greater than the amaSupertrendU11 indicator +8 ticks, then start trailing the amaSupertrend -4 ticks.
December 21, 2018 - January 4, 2019
No workshops during the holiday break. Merry Christmas and happy New Year!
0:00 - How to place a Stop entry order at an EMA after price crosses below the EMA by 3 ticks, thus the order is filled if price moves back up to the EMA. This is designed for large reversal renko bars that can generate long wicks. The conditions all occur on the same bar as the bar is building, therefore Calculate = On Price Change.
0:00 - This is an overview of “attaching” a Limit entry order to a moving average. As the MA moves up or down the entry order trails/moves with it.
11:05 - How to trail 1 tick above the bar High only when a new bar low is made. i.e. The order will move/trail when the current bar’s Low is lower than the previous bar’s Low. This example applies this trailing rule to an entry order to keep moving a Stop entry lower as bars move lower, but it can also be used for stop-loss trailing as well.
00:00 - How to use the closed bar’s price to trigger a trailing stop-loss instead of real-time market price. This example show how to activate a 10 tick trailing stop-loss once 10 ticks of profit is achieved based on a closed/completed bar’s Close price.
10:04 - How to exit/close a position when the SMA 7 slopes in the opposite direction of the trade. I.e. When in a long trade, if the SMA slopes downward then close the position.
00:00 - Setting a Limit entry order to the Bid price for a long, and Ask for a short position. Then the following stop-loss parameters are added. The initial stop-loss starts at 8 ticks. Move to breakeven +2 ticks at 7 ticks of profit. Then, trail by 5 ticks on every 2 ticks of profit. Then, trail by 3 tick, at 15 ticks of profit, on every 1 tick of profit.
15:51 - This next topic takes the above stop-loss settings and adds a Stop entry that is placed 1 tick above the Swing indicator. For a long position, the Stop entry order is placed 1 tick above the Swing High plot (for a breakout entry), or the Stop entry is placed 1 tick below the Swing Low plot for a short position. Also, a trailing action is added to automatically move the stop entry if the Swing indicator finds a new swing point.
28:02 - How to flatten a position if the position has been open for 2 hours and is not profitable. This example shows how to create a stop-loss rule to accomplish this.
10/19/2018 Designing a Scaling-In Trading System (raw unedited recording)
1) We take the BloodHound template, built in the 10/19/20018 workshop, and set up the following orders. The first order is a market entry with a 20 tick profit target, and a 15 tick stop-loss that starts trailing after 8 ticks of profit. The second order is a scale-in order set up as a runner (no profit target), and a 15 tick stop-loss. The third order is the second scale-in order set up the same as the second order. The first order is executed on the first BloodHound signal, the second order is executed on the second BloodHound signal, and the third order is executed on the third BloodHound signal.
00:00 - A short review of 3 topics. 1) How to open a BlackBird template file. 2) Setting the number of contracts (or order quantity). 3) Settings to run BB in full auto-trading mode.
17:36 - How to create an order set with the following parameters. Profit target #1 (PT1) is 5 ticks. PT2 is 10 ticks. Stop-loss (SL) starts at 6 ticks. Move SL to 5 ticks after 3 ticks of profit. When PT1 is filled, trail SL2 by 5 ticks.
34:14 - How to override stop-loss trailing to allow them to widen (to move backwards or against the trade direction). This shows 3 setting that need to be changed to allow this behavior.
37:31 - An example of creating a tightening stop-loss trailing as profit increases.
09/07/2018 No Training Type Questions to Post
08/24/2018 No Training Type Questions to Post
07/27/2018 No Workshop - Shark Week Event
07/20/2018 No Workshop - Shark Week Event
07/06/2018 No Workshop Questions
06/08/2018 Repeat Topics. No Recording Posted.
00:00 - This is a good overview of adding a BloodHound signal into BlackBird, and then building a 3 profit target order set with various stop-loss trailing rules. We take the MTF & 3 MACD system from the 5/31/2018 BloodHound workshop and build one BlackBird template for the NQ instrument, and another for the ES instrument. Each instrument has different target and stop-loss settings.
Stop-loss setting for the NQ are as follows: Stop-loss #1 (for profit target #1) is a fixed 16 ticks. Stop-loss #2 also starts at 16 ticks, and moves to breakeven +2 ticks afte 6 ticks of profit. Stop-loss #3 starts at 16 ticks, and moves to breakeven at 16 ticks of profit, and then starts trailing after 21 ticks of profit, 16 ticks behind the market, and moves once every 5 ticks in profit.
Stop-loss setting for the ES are as follows: Stop-loss #1 (for profit target #1) is a fixed 8 ticks. Stop-loss #2 also starts at 8 ticks, and moves to breakeven +1 ticks after 4 ticks of profit. Stop-loss #3 starts at 8 ticks, and moves to breakeven at 8 ticks of profit, and then starts trailing after 12 ticks of profit, 8 ticks behind the market, and moves every tick in profit.
00:00 - How to build a stop-loss that starts trailing swing point after the CCI indicator crosses a certain level. In this example the stop-loss starts with a 10 tick offset. It then starts trailing from swing point to swing point after the CCI crosses above +100 for a long trade or below -100 for a short trade.
05/18/2018 Repeat Topics. No Recording Posted.
05/11/2018 Implementing a Scale-in Contract Overview
00:00 - An overview of the most typical setup for adding a scale-in contract to a trading system. This has 2 order sets, 1 contract each. The first order set is the initial contract that opens the position. The second order set is the scale-in contract, which is executed if a secondary BH signal occurs while the first contract is open. An EMA bounce BloodHound signal is used to demonstrate creating the scale-in contract.
00:00 - Setting up a Stop entry order for a Opening Range Breakout trade. This uses the open range BloodHound template from 5/3/2018, and shows how to setup a Stop entry order 1 tick offset from the opening range. Also, setting the stop-loss to the opening range midpoint is shown.
31:04 - Various ways to move a profit target when price gets within a few ticks of the profit target.
0:00 - This builds a 2 profit target, and anaSuperTrend (ST) trailing stop-losses, where the trade is closed at market if the previous 4 bars are losses. The entry is a market order. Profit target #1 is 2.5 points (10ticks for the /ES). The stop-loss is initially placed at a swing low/high point, and then starts trailing the ST plus a 1.25 ATR offset when 8 ticks of profit occurs. Profit target #2 is 6 points (24ticks for the /ES). This stop-loss is also initially placed at a swing low/high point, and then starts trailing the ST plus a 1.25 ATR offset when 8 ticks of profit occurs. In addition, it will move to Breakeven +1 tick when profit target #1 is filled, and then stop trailing the ST. Both contracts will close/flatten if 4 bars in a row close on the losing side of the entry price (the bars close as a loss) by moving the stop-losses into the market price.
0:00 - How to protect a anaSuperTrend trailing stop-loss from bar wicks hitting the stop-loss. This customer’s idea uses the stop-loss to close the order only when a bar closes on the other side of the SuperTrend line (ST), not just the bar wick penetrating the ST line. This demonstrates a way to alleviate the issue of stop-losses getting hit by bar wicks when price sometimes bounces off the ST line, and then continues on with the trend. This example uses 2 anaSuperTrend indicators. One ST is closer to price (the inner ST), and the other is an outer/wider ST. The inner ST determines when to close the order. The wider ST is where the stop-loss is trailed until price closes beyond the inner ST line. A BloodHound template is used to detect when price closes beyond the ST line. Another BH template detects when the stop-loss can start trailing the wider ST line incase the ST line is on the wrong side of the market when the order is placed. This is an improvement to the original topic that was discussed in the Sept. 22, 2017 workshop.
04/13/2018 No Recording Today
00:00 - Safeguards to use when attaching the stop-loss to a swing point indicator. This clip shows an alternative way of setting up a stop-loss that is to be placed at the most recent swing low (for longs) or high (for shorts). The issue is when setting a stop-loss to a swing point indicator, sometimes the indicator has not plotted the swing point yet, or the swing point indicator has not yet caught up to were the market is currently trading. This clip provides a solution to this indicator caused issue. Instead of using the SiSwingsHighsLows indicator directly, we use the Swing Point Prices interface which uses the SiSwingsHighsLows indicator for the calculations.
25:06 - How to set up indicators to use the High or Low prices instead of the standard Close price. This clip demonstrates how to change the Input Series of the EMA to the High and Low prices, to create an EMA channel. Then use those EMAs for a trailing stop-loss.
03/30/2018 No Workshop Questions
03/23/2018 No Workshop Questions
00:00 - How to move/trail a stop-loss when profit targets are hit. Then, how to set up an entry order to follow a slower moving average, and have the stop-loss follow/trail a faster MA.
45:32 - How to split a 2 contract profit target into two 1 contract profit targets.
50:02 - How do strategies (E.G. BlackBird or Raven) interact with the Super DOM?
00:00 - This is a walk-through demonstration using the Daily Watermark feature with multiple BlackBirds, and with Money Management » PnL Calculation Mode in Group Mode. BlackBird is setup on three separate charts. Every BlackBird has ‘PnL Calculation Mode’ set to Group Mode and the Daily Watermark is enabled, in the Money Management section. BloodHound signals are set up in each BlackBird. The order settings are set slightly different in each BlackBird. Lastly, simulation testing is done to demonstrate how the Watermark works in group mode.
29:42 - Is it possible to get market orders filled at the closing price of the ProRenko bar? This discusses how and why orders are generally filled a couple of ticks from the Close price of the signal bar for renko and range bars.
02/16/2018 Repeat Topics. No Recording Posted.
00:00 - How to place a Stop entry order a tick above the bar high of the BloodHound signal bar. I.E. When a BH signal occurs the entry order will be place a tick above the high price of that bar.
12:35 - How to change the BloodHound signal (logic templates) that BlackBird is trading in real-time.
21:11 - This builds a 20 tick stop-loss that move 2 ticks for every 1 tick in profit, until break even is achieved. Then the stop-loss trailing switches to trailing the previous bar low/high with a 1 tick offset.
02/02/2018 No Workshop Questions
0:00 - A quick review of how the Buy/Sell Ask & Bid trade buttons works on the Trade Controls (chart trader) panel.
9:03 - How to define a limit entry order that is placed it 1 or 2 ticks past the order book. The user’s intent of doing this is to get in front of the other waiting orders. This shows how to create a limit entry order that is placed 1 tick above the Bid (for a long order), or 1 tick above the Last price. Whichever you feel is more appropriate for your trading.
00:00 - How to open a limit entry order at one indicator plot and after that bar closes have the entry order trail/follow a different indicator plot. In this example the limit order is opened at the Ichimoku Span A plot. Once the first bar closes the entry order starts trailing the Ichimoku Span B. If not filled, the entry is canceled after 20 bars or at a specified time of the day using the SiTimeBlock indicator.
39:31 - Where can the profit & loss be seen for each BlackBird when running several BlackBirds at the same time.
00:00 - How to use the Entry order » Placement Trigger » Trade Signal Trigger option to scale-in(add more contracts) to a position. This example demonstrates how to use a BloodHound trade signal to keep adding more contracts, with profit targets & stop-losses, to an existing position.
28:20 - This is a continuation of the BloodHound workshop on 1/4/18 to incorporate the pullback to 5 bar high/low signal into BlackBird. The pullback signal is modified slightly for use in BlackBird. This demonstrates attaching a limit entry order to the Donchian Channel where it waits for a pullback in the market depending on the market trend as defined in the BloodHound logic. Later on, a second contract is added added to the position based on a secondary trend continuation BloodHound signal.
00:00 - The issues associated with backtesting Renko style bars. This discusses the following topics: 1) Why Renko type bars produce inaccurate backtest results. 2) The various ways to compensate for the inaccuracies. 3) Why backtesting on historical charts will always have some inaccuracies.
25:25 - Can BlackBird automatically switch between a Market entry order and a Limit entry order? No, not as designed. However, this demonstrates a workaround idea. The workaround does have a undesired side effect.
0:00 - Setting up BlackBird to use a BloodHound template that requires ‘Calculate on Bar Close’ = False. This also demonstrates creating a two profit target order with stop-loss that moves to breakeven at 10 ticks of profit.
00:00 - A narrowly focused discussion of how the Trade Signals » BloodHound Signal » Entry Signal Template and Exit Signal Template options behave. This explains the differences between the BloodHound signals that may be seen on the chart versus the BloodHound signals that BlackBird is actually using. In other words, the signals on the chart can differ from the signals that BlackBird is using internally, and this focuses on explaining how all that works.
17:07 - A discussion on how Entry, Reversal, and Exit signals all interact with each other. And, how Exit signals can nullify Entry signals.
38:55 - How to use a stop-loss for the first trade of the day, and then afterwards use a BloodHound Exit signal to exit positions for all the remaining trades of the day. The majority of the logic for this to work is done in BloodHound. Please see the prior day’s BloodHound workshop for that. This clip explains how to set up the BloodHound signals in BlackBird, and some testing to verify it works correctly.
0:00 - This discusses how BloodHound’s Time Session solver and BlackBird’s Scheduling operate together. Such questions as the following are discussed;
- Are the Time solvers in BloodHound being utilized when BlackBird’s Scheduling is being used?
- Does BlackBird’s Scheduling make the final decision when executing a trade, or can BloodHound affect that decision in some way?
- Does one program override the other, or are trades only permitted when the Time Session solver and Scheduling overlap?
00:00 - How to trail a Stop-loss 1 tick for every 2 ticks in profit. And, as an added bonus we include a breakeven +1 tick at 10 ticks of profit.
17:42 - How to use BloodHound to exit/flatten a trade on a specific day of the week and time, instead of using the Scheduling » Force Trades To Exit option. E.G. The weekly crude inventory report. This is a follow up on the previous day’s BloodHound workshop question.
36:59 - Is there a limit to the number of BlackBird strategies that can be fun?
00:00 - How to trigger a stop-loss when price closes beyond the SuperTrend indicator. This demonstrates a way to alleviates the issue of stop-losses getting hit by wicks crossing the anaSuperTrend, but the bar then closing above the indicator and price continues to move higher. This example uses a stop-loss in the order. Also discussed is another way to do the same without a stop-loss as part of the order.
00:00 - An overview of the improved Scheduling feature.
00:00 - An overview of adjusting the quick list ‘Previous Bar Low/High (Trailing)’ stop-loss to suit your own bar low/high stop-loss trailing. The default setting for the Previous Bar Low/High (Trailing) stop-loss is to trail the last bar’s low or high. This video explains how to adjust the setting to trail the lowest low of the last 3 bars (or last 2 bars) for a long trade. Or, trail the low of the 3rd bar back, instead of 1 bar back.
11:44 - How to set a Stop entry 12 ticks below the highest high of 30 bars back, and then trail the stop entry lower if the market continues to move lower. This demonstrates how to use the Select Input » Price window to calculate the highest high of 30 bars back, and then apply a 12 tick offset below that highest high. Then a secondary stop entry is added to the system. The second stop entry is tied to the first profit target. When the first profit target is hit, the second stop entry is submitted 12 ticks above the profit target.
00:00 - Exiting a trade, for a profit, when the Ask or Bid touches the anaSuperTrend. This uses a BloodHound signal as an Exit signal to flatten the trade for a profit. Instead of using a profit target (which are limit orders that sometimes do not get filled), the trader wants to exit the trade at market as soon as the Ask or Bid touches the anaSuperTrend line. Please Note: In Options, the ‘Allow Auto Trades During Manually Placed Trade’ needed to be checked in order for the testing to work properly.
13:07 - How to close a position after a certain amount of time has passed, if the profit target or stop-loss is not hit. This shows how to use the Trailing Actions » Initial Delay to accomplish this action.
00:00 - Moving the stop-loss to breakeven once the first profit target is filled. This demonstrates a typical use of the Trailing Actions » Trigger On » Order Status Changed option.
13:19 - How to create a simple market entry order, now that Placement Delay and Placement Trigger options (for scaling-in additional order) have been added to the Entry order menu.
8/11/2017 A Quick Back-testing Overview
0:00 - Delaying a market order until the Last price crosses below the Open of the previous bar. In this example a trader wants the market order to wait until price has a pull-back to the previous bar's Open, after the BloodHound signal, and then execute.
0:00 - The difference in backtesting on a chart (static historical data) versus backtesting using the Market Replay data-feed (tick by tick historical data). Market Replay is technically a simulated way to do forward testing using historical data, vs. using live data. In this topic we discuss why there are differences, and show the different results in NinjaTrader’s Strategy Report.
0:00:00 - An overview of the scaling-in feature Placement Trigger for entry orders. In this clip we demonstrate the two most commonly used Placement Trigger options. Entry Order > Placement Trigger > Trade Signal Trigger is the most commonly used option. Next is the Placement Trigger > BloodHound Signal.
1:02:45 - A review of the latest improvements to the Dynamic Planning in the 6-20-2017 update.
1:29:41 - Another overview of the Dynamic Planning > Scale to Fit and Track Price buttons.
1:45:00 - A theoretical discussion of a practical approach for automatically moving a profit target further out to capture more profit. This clip discusses how you can use a BloodHound signal to move a profit target further out, for more profit, and then move the profit target back in again if the BloodHound signal/condition ends.
00:00 - How to cancel a limit order when two indicators no longer equal each other. This example demonstrates how to cancel a limit entry order when the DonchianChannel no longer equals the daily high or daily low (using the CurrentDayOHL indicator).
00:00 - What are the differences between BlackBird and Raven?
14:14 - An overview of ways to delay stop-loss trailing until a profit goal is achieved. This discusses the Trailing Actions > Initial Delay, Trailing Actions > Trigger On > Profit or Loss, and Trailing Actions > Trigger On > Order Status Changed components to create profit based delays.
23:58 - How does the ‘Calculate on bar close’ setting affect trailing rules. Entry order trailing, profit target trailing, and stop-loss trailing can be affected by the CoBC setting.
32:42 - How does NinjaTrader handle orders placed in opposite directions on the same instrument. E.G. BlackBird #1 is on a 5 minute chart and enters a long trade. BlackBird #2 is on a 1-minute chart, of the same instrument, and enters a short trade while BB #1 is in the long trade.
00:00 - Adding a Breakeven (BE) to your indicator following trailing stop-loss. In this clip we cover various topic of creating a multi-ruled trail stop-loss. This is a good beginner video for getting into advanced stop-loss rule building. We begin by adding a BE rule to the ParabolicSAR trailing stop-loss.
a.) Next, a mult-tiered ParabolicSAR trailing is added. After BE, the stop-loss trails the ParabolicSAR with standard parameter settings. Then after 60 tkcks in profit the stop-loss will trail a faster moving ParabolicSAR.
41:12 - How to change the stop-loss placement for a short trade vs. a long trade. BlackBird does not directly support using one indicator for setting the stop-loss price for long trades, and using a different indicator for setting the stop-loss price for short trades. However, there is a workaround for this. This clip demonstrates how to use the Trailing Actions > Trigger On > Price vs. Indicator option to create a stop-loss rule that is only used during a short trade.
00:00 - How to use an indicator to control a trailing stop loss.
28:02 - How does the “offset” setting work? Any setting that pertains to a price value will have the option for an offset.
47:02 - We dive into a previous demo from a BlackBird sales webinar, showing how BlackBird can be used much like an experienced discretionary trader would trade live.
6/02/2017 Setting up a Hedged Order Set
00:00 - How to setup a “hedged” order set using two BlackBirds running on the same chart. The order setup; order #1 is a long limit entry order with a 60 tick profit target and a 20 tick stop-loss. The hedged order (order #2) is a short stop entry order placed at the stop-loss of order #1. If the stop-loss, for order #1, is hit a position (order #2) in the opposite direction is opened. Also, if the profit target for order #1 is hit, then the hedged order (order #2) is canceled. Two BlackBirds are used to accomplish this sophisticated task. BlackBird #1 manages order #1, and BlackBird #2 manages order #2. This demonstration illustrates how to setup both BlackBirds, and discusses the Pros & Cons, and technical issues to be aware of.
00:00 - An overview of the ‘Previous Bar Low/High’ from the Add Stop Loss quick list. This topic focuses on the Select Input window » Price options. In particular, how the ‘Lookback Period’ and the ‘Process Lookback By’ settings operate. This is a good lesson for learning how to modify the ‘Previous Bar Low/High’ stop-loss settings to suite your custom needs.
00:00 - Using a custom indicator to set the Profit Target and Stop Loss.
09:50 - Questions about the daily max profit / loss, risk per trade, and other Money Management settings.
16:46 - How does this setting work: “Enforce During Live Trade” for Net Max Loss/Profit. This setting decides whether the max amount is based on realized or unrealized profit or loss.
0:00 - How to set up a different set of trade rules depending on the time of day. To accomplish this, we use two instances of BlackBird on one chart.
3:07 - Miscellaneous questions about the Dynamic Planning.
0:00 - How to delay an audio alert, so that it plays X seconds after an entry order is filled/executed. In this topic the user wants a reminder message to play about 7 seconds after a entry order is filled, to remind him to disable the Auto Trading button. This is a workaround which uses the Trailing Actions » Initial Delay and Action to accomplish the delay.
4/06/2017 Quick Example of the Dynamic Planning
0:00 - An example of using the Dynamic Planning. In this example the entry is to be placed approximately at the 50% fibonacci level. The profit target at the swing point high, and the stop-loss at the swing point low, for a long trade.
00:00 - How to setup a chase the market entry order. In this example a Limit entry order is placed 5 ticks below the bar’s Close price (for long entry). When price moves away from the entry order, the entry order will chase the market 5 ticks behind, waiting for a pull back. A limit can be set on how far the entry order will chase the market by using Trailing Actions » Repeat » ‘Repeat X Times’ or ‘Repeat Until’.
30:47 - How to set an alternative Stop-loss when using the anaSuperTrend indicator and it is in the wrong direction of the trade. E.G. A long trade is placed, but the anaSuperTrend is on the wrong side of price to set a stop-loss. How can a stop-loss be placed?
3/23/2017 Computer Crashed and the Recording was Corrupted
00:00 - What sequence is recommended for studying BlackBird? OCO Order section, Management section, and then the Signal section.
15:08 - Can BlackBird place entry orders in a Hedged Grid strategy? Yes, but in one direction at a time.
3/09/2017 Miscellaneous BlackBird Questions
00:00 - Is it possible to attach/associate an existing (manually placed) order to BlackBird, so that BlackBird and manage that order? No, NinjaTrader does not have the ability to facilitate that.
02:12 - An extended explanation of the Risk Management option "Allow Widening of Stop Loss During Trade".
12:42 - Does the Risk Management option "Exit Trade After Loss Exceeds" apply to discretionary trades?
00:00 - How to use a BloodHound signal to execute a trade at an exact time of day. In this example we take a BloodHound template, that was built in the 02/24/2017 BloodHound Workshop, which generates a signal at 9:32am every day. Afterwards, we demonstrate how to generate backtest results.
10:09 - A follow up example to the above topic. How to exit/flatten a trade at a specific time of day. This can be done using a BloodHound signal to flatten a trade, or a trailing rule can be used..
22:43 - Can a trade be opened when the market first opens? Yes. Using the above topic, we briefly explain how this can be done.
23:46 - Can the account that BlackBird trades by changed on-the-fly? No. NinjaTrader does not allow that.
25:38 - Can more than one BlackBird run on a chart at the same time? Yes, and we give a short demonstration of what it will look like the order distinction issues that might arise. Also, are the order from each BlackBird kept separate from each other or will they interfere with each other?
How to stop a trailing stop-loss from moving after a certain condition occurs. In this example we demonstrate using the Trailing Actions » Repeat Until option. The stop-loss is to be trailed until 1 tick of profit is achieved, and then the stop-loss will no longer trail.
00:25 - This discusses and demonstrates the new alert types, from the Alert menu, that are also available in the Trailing Actions » Action section. Also, included is use of the Active Position alert in the Alerts menu.
28:41 - This demonstrates creating a trailing stop-loss after a break even +1 stop-loss movement is made.
This video discusses the new enhancements and improvements in the 3rd BlackBird update.
1) Enhancements to the Scheduler.
2) The new Global Breakeven button.
3) The new Alert types.
4) The new Watermark Stoploss value display.
5) Enhancement to the Trailing Actions » Trigger On » Price vs Indicator condition.
6) The new Entry Prices now available. OCO and Average Entry Prices.
7) Display improvements for the Performance panel.
8) The new Automatic (entry) Order Type.
04:49 - How to set the profit target distance based on the entry bar length. In this example we set the profit target at 1.5 times the length of the entry bar by using the ATR indicator. The stop-loss is set at 1 tick below the low/above the high.
12:42 - A discussion about overriding auto-trades with discretionary trades. What are the various options and behaviors of placing a manual trade when BlackBird is setup to auto-trade.
28:56 - Can a auto-trade or a manual trade be reversed?
33:10 - Is it possible to delete a static stop-loss and replace it with a trailing stop-loss while in the trade?
37:23 - How to use the DM indicator’s DI plots as a stop-loss offset distance. The ±DI plot values are in ticks, which can be used as an offset tick distance in BlackBird.
Links to download indicators:
This example discusses an Opening Range system question. It uses LizardTrader.com’s anaOpenRangeV42MTF indicator to calculate the range, which is used to set the stop-loss price, and in the BloodHound workshop used to calculate the breakout signal. The entries are market orders, with one profit target and a runner. A 1% of account size is used to set the max risk / trade and the number of contracts are increased to match.
Please note, as of 01-20-2017, the anaOpenRangeV42MTF indicator does not function correctly in BloodHound.
1/12/2017 Various Order Manipulation Questions
00:00 - An overview of all the various ways to cancel orders.
06:35 - How to cancel pending entry orders using a custom logic based event.
09:32 - Is it possible to track the various order states (as outlined in ninjatrader.com/support/helpGuides/nt7/?order_state_definitions.htm) in a logic based event to help prevent overfills?
12:27 - Is it possible to cancel pending entry orders using a (BloodHound or indicator) signal in the Trailing Actions tab?
20:19 - How to create an Opening Range Breakout system in BlackBird. The highest high and lowest low that occurs during a specific time range needs to be tracked by an indicator. Once price breaks out of that range, then place a limit order at the range’s price and wait for the market to retrace back to that limit order.
0:00 - This is an updated overview of the Trailing Actions tab, which is where custom trailing rules are created. This training focuses on Stop-loss trailing, but keep in mind that profit targets and entry orders can be trailed/moved as well.
06:44 - When using the "Go Long" or "Go Short" buttons, what determines the price of where the entry is placed? This discusses how the Go buttons are set.
10:13 - What is the difference in how BlackBird tracks the P&L statistics versus NinjaTrader.
12/01/2016 Averaging in With Trailing Stop Entry Orders
0:00:00 - How to build a trailing Stop entry order, legging in system. This example starts with a Stop entry order(order “A”) and shows how to trail the market price when price moves away from the Stop order. E.G. A long Stop order is placed, but the market price moves down. The Stop order will trail down 4 ticks above the market price. A second Stop entry order(order “B”) is placed, but is waiting for order “A” to fill first. When order “A” fills, if price keeps moving down then order “B” will trail down once price move 8 ticks below order “A” entry price. But, if price move 12 ticks down then order “B” is canceled. This is a fairly complex averaging in system using Stop entry orders instead of Limit orders.
1:01:17 - A simple example on how to use the Indicator Signal input to automatically place trades. We use the LTSRuby indicator to demonstrate the Indicator Signal input. This also demonstrates how to set a Limit order price from an indicator value/plot.
1:27:27 - How to enable Calculate on Bar Close(CoBC) = False when it is grayed out(can not be changed)?
00:00 - How to convert a NinjaTrader ATM in to BlackBird. Two examples are provided. The first ATM is simple with one profit target. The second ATM has two profit targets and a 2 Step trailing stoploss.
35:20 - A broad overview of backtesting with BlackBird. We demonstrate backtesting on a chart first, the easiest way to backtest. Then we move to the Strategy Analyzer to generate some backtest results, and show some prerequisites before using the Strategy Analyzer. Lastly, we explain the Optimization issues.
11/03/2016 Setting Up BlackBird to Trade Like Raven
00:00 - An explanation of the Order Settings window ≫ Save, OK, and Cancel buttons.
08:15 - How to setup a Bar Reversal trade exit to be used with manual/discretionary trading.
23:56 - An brief overview of the Scheduling component options. In particular how the Force Trades To Exit is used.
29:23 - How to setup BlackBird so it behaves and back-tests like Raven.
43:08 - How to scale-in/leg-in with additional entry order, with the current version of BlackBird.
53:13 - How the “BlackBird Layout” button works.
0:00:29 - Covering some lesser known features of BlackBird.
0:46:37 - A simple example of BlackBird taking trades using BloodHound signals.
0:54:01 - How to disable trading after a specific net profit using the Money Management menu.
0:59:21 - When setting up Trailing Action rules, what’s the difference between “Last” and “Entry” prices.
1:04:10 - The setting “Max # of Losing Trades” means number of losing Trades, not Contracts.
00:21 - How to place a limit order 4 ticks above the current day’s low, or 4 tick below the current day’s high, when a BloodHound signal occurs. Next, place a stop-loss 10 ticks below the day’s low or 10 ticks above the day’s high, creating a 14 tick stop-loss. When price moves 15 ticks in profit, move the stop-loss to the swing high/low point plus 1 tick. The profit targets are 25 ticks, and 50 tick.
40:57 - Can separate stop-loss trailing rules be set up for long trades vs short trades? The two trailing rules are; #1 After 15 ticks of profit move stop-loss 10 ticks above entry price. #2 After 30 ticks of profit move stop-loss 20 ticks above entry price. We discuss how these trailing rules will behave and do they execute in real-time or when the bar closes.
52:59 - An overview of the OCO Order Set ≫ Trailing Actions tab.
10/13/2016 General Q&A
11:41 - Using limit orders in BlackBird
28:17 - Can you offset by an amount, and then adjust manually as needed?
33:36 - How to get the “ana” indicators.
34:42 - An example of when BlackBird can’t do something; BloodHound or another indicator should be used.
40:04 - Set a trailing stop to the low of the prior bar.
10/06/2016 Overview of OCO Order Sets
0:00:30 - Overview of using OCO order sets
2:27:40 - Protect profits by moving the stop loss to break-even plus a few ticks
2:47:44 - Using the DM indicator as an offset factor.
2:52:45 - Why you can’t use the anaSuperTrend as the stop loss value.
9/29/2016 Forgot to hit “record” so no recording this week
00:30 - Overview of the latest update
17:21 - Overview of the management settings buttons
- Miscellaneous questions
0:00:29 - Training on the Order Settings > Trade Signals section. This discusses how to use a 3rd party indicator in BlackBird to initiate trades. And, how to setup a BloodHound template to initiate trades, or exit/flatten a trade.
0:52:01 - How to use an indicator plot to set the Stop-loss price, and trail the stop-loss. In this example we use the anaSuperTrendU11 indicator.
1:04:31 - How to setup BlackBird with different settings for different instruments.
00:20 - An overview of the chart panels. How to customize their location and stacking. What each one is for.
54:52 - An overview of Dynamic Planning.