When you look at a chart on Ninjatrader platform, how do you know which value on Nadex’s chart to set a profit target because their price values do not match each other?
Please advise. Thank you.
Are you trading spreads?
And are you trading directionally?
Yes, I’m trading spreads and directionally.
Please advise. Thanks.
Hopefully Im understanding the question correctly and am not giving you bad advice.
Using this random example. You think the USD/CAD will go up in price.
So you purchase a contract going long. Your price in this case would be 1.3019
If you want to set a Take Profit order for say 15 pips… You would just add 15 to the average price.
1.3019 + 15 = 1.3034. So you would use 1.3034 as your take profit.
Thank you for that helpful example. Let’s try another example since I trade NQ. If you can, please pull up an NQ chart. As of this writing, NQ is trading at 4217.25 on Ninjatrader chart. So I purchase a contract going long on Nadex. I want to set a take profit at 4267.75. What value would I use on Nadex platform?
Please advise. Thanks.
NQ is a little different. The Nadex Price actually moves faster than the price you see on Ninjatrader.
Im not even going to pretend I can explain it to you… Hopefully this article can explain it a little better. https://forum.apexinvesting.com/t/tick-tick-tick-changes-for-us-tech-100-at-nadex-emini-nasdaq-100-futures/2683
However, if you plan on trading the NQ now, because it has moved so far up in price… Everything now will be considered a premium collection trade. And time will have a bigger impact on profits with these trades. (as long as the market keeps going up, or at least remains the above the ceiling of the spreads)
Thank you. I’ll wait to trade NQ tomorrow morning when market opens, then I’ll have a live trade to ask you then.
Good luck and I am sure some of the more experienced traders will be along in a bit and will be able to answer your questions more in depth.
As of this writing, NQ is trading at 4255.25 on Ninjatrader chart. So I purchase 3 contracts going short on Nadex (see pic). I want to set a take profit at 4234.50 (showing on Ninjatrader). What value would I use on Nadex platform?
Please advise. Thanks.
The answer is simple if you want to set the profit based on the price on ninja trader use the stop trigger in the scanner. Do not use the nadex platform. Using the stop trigger on the scanner will allow you to set the exit based on the indicative price as the trigger price.
