Elite stop loss


#1

Can someone explain exiting on an apex elite entry? I understand that the rule says 5 tick above/below P and then trail the mvp line. What I don’t understand is how we are trailing the mvp line. Are we entering a tick # for what we want the trailing stop to be (since the mvp line is offset by a certain # of ticks?) or do we keep changing where the stop loss based on where the mvp line is? What would be the difference in just setting a trailing stop 5 ticks above/below P?


#2

Yes you follow the MVP line as it moves and adjust your stops to the MVP line. The initial stop of 5 ticks is when first entering. The reason we do not follow that down with the trend is because the market can easily be trending and pop up 5 ticks and stop you out, but then reverse and keep flying down in your directin and you could loose out on the rest of that big trend. That is why we follow along with the MVP line at little larger gap


#3

I have the same question.

But to clarify, how do I set the trailing stop to follow the MVP line? Is it directly trading with Ninjatrader as the broker? or can it be linked in another broker?

I’m still going through the courses so maybe I haven’t gotten to that part yet…

Any help is much appreciated!


#4

You can trail your stop using the NT chart trader. Broker you use is a separate issue.


#5

Once your in and your stop is set you just move it on chart trader or on the ATM (chart trader is easier) to match the MVP line’s price


#6

I’m guessing that unless you’re (you are) able to stay at your (your) machine for the entirety of the trade then you’ll have to rely on old fashioned garden variety trailing stop to exit.


#7

You can setup your atm im chart trader to manage the trade automatically :cool:


#8

Sure you can set up a trailing stop but you can’t program it to follow a proprietary indicator i.e. MVP line.