Description

Advanced Risk Reward for NinjaTrader 8

1️⃣ What does it do and what is it for?

If you’d like to always risk the same amount of money in each trade without worrying about calculating how many contracts to enter manually, then the Advanced Risk Reward is the perfect tool for you. This tool automatically adjusts the number of contracts in the ChartTrader to lose a specific amount of money based on the distance between your stop loss and entry point. For example, if you define a $200 risk per trade, it doesn’t matter if your stop loss distance varies in each trade depending on the market structure relative to the entry point: the tool will automatically calculate how many contracts you should place to always meet your risk target.

This tool is ideal for traders looking to:

• Automate and simplify their risk management.
• Comply with strict funding or personal strategy rules.

2️⃣ Main features:

✅ Automatically calculates contracts in real-time:
While adjusting your stop loss in real-time, the tool recalculates and updates the exact number of contracts to keep your risk constant. This is updated directly in the Chart Trader, without manual intervention.

✅ Different ways to define your risk

• Fixed Value: Define an exact fixed amount of money to risk per trade (e.g., $200 per trade).
• Percentage of Account: Set a percentage of your account balance as risk. The tool will automatically calculate the dollar amount and adjust the contracts based on the current balance.

✅ Dynamic price tracking:
The stop loss is usually located at a fixed point; however, the entry point will depend on where the market is at the precise moment of entry. Because the market often moves quickly, the advanced risk reward includes a feature called “Dynamic Price Tracking” which allows the entry point to adjust automatically to the price where the market is at that moment.

• OnTick: The entry point follows every price movement in real-time.
• OnBarClose: The entry point updates at the close of each bar, ideal for more structured strategies.

✅ Contract limit:
Certain funding firms or brokers usually have a maximum number of contracts. This is why the advanced risk reward also includes a parameter that limits the number of contracts the tool can place for you. For example, if you set a limit of 2 contracts, the tool will not allow it to be exceeded, even if the calculation indicates more are needed to maintain the risk.

✅ Multiple take profit ratios:
Configure up to 5 levels of profit targets according to your strategy. If you don’t need some, just disable them.

✅ Visual customization:
Adjust colors, styles, and opacities to perfectly integrate the tool into your chart and improve visibility.

3️⃣ How does it work in practice?

1. Define how much you are willing to risk: for example, $200 per trade.
2. Adjust your stop loss according to market structure. If it is farther from the entry point, the tool will calculate and place fewer contracts. If it’s closer, it will add more contracts.
3. Activate the dynamic tracking mode you prefer:
   • OnTick: The entry point will move with the current market price.
   • OnBarClose: It will only adjust at the close of each bar.
4. If you work with funding rules or internal limits, set a maximum contract limit so you never exceed it.
5. Customize your profit targets with up to 5 take profit ratios to execute strategic exits.

4️⃣ Why choose Advanced Risk Reward?

• Total automation: Save time by eliminating manual calculations and errors.
• Complete risk control: Ensure you never risk more than planned.
• Adaptability: Adjust your strategy in real-time, hassle-free.
• Flexibility: Compatible with any trading style thanks to its customization and advanced options.

With Advanced Risk Reward, you can forget about complicated calculations and focus on what really matters: your trading decisions. Simplify your trading and take your risk management to the next level!