Futures Trading

Trade Wzrd supports futures trading through Tradovate and NinjaTrader, connected via the ntvateREST API. This guide covers everything you need to know about trading futures on Trade Wzrd.

Forex vs Futures

Popular Futures Contracts

Tick-Based SL/TP

On futures platforms, SL and TP can be set in ticks from the entry price. Use TPSLTYPE=TICKS in signals or select “Ticks” in the terminal SL/TP dropdown.

Tick Conversion

Examples

ES at 5800.00 (tick size 0.25):

• SL=4 ticks → SL at 5799.00 (4 × 0.25 = 1.00 below entry)
• TP=10 ticks → TP at 5802.50 (10 × 0.25 = 2.50 above entry)
• Risk per contract: 4 ticks × $12.50 = $50.00
• Reward per contract: 10 ticks × $12.50 = $125.00

NQ at 20500.00 (tick size 0.25):

• SL=8 ticks → SL at 20498.00 (8 × 0.25 = 2.00 below entry)
• TP=20 ticks → TP at 20505.00 (20 × 0.25 = 5.00 above entry)

Bracket Orders (OSO)

On futures platforms, SL and TP are implemented as bracket orders using the OSO (Order Sends Order) mechanism. When you open a position with SL+TP:

1. The entry order is placed first
2. When the entry fills, the SL order is placed
3. When the entry fills, the TP order is placed
4. If the SL fills → TP is automatically cancelled
5. If the TP fills → SL is automatically cancelled

BRACKET Command

The BRACKET command opens a position with SL+TP as bracket orders in a single signal:

On forex platforms, BRACKET works identically to BUY/SELL with SL/TP.

Adding SL/TP After Entry

You can also add SL/TP to an existing position using MODIFY:

This places SL/TP as bracket orders on the existing position.

Removing Individual Brackets

Automatic Bracket Cleanup

When a futures position is fully closed (via CLOSE, CLOSEALL, or the TP/SL being hit), all remaining bracket orders are automatically cancelled. You do not need to manually cancel brackets.

Partial closes reduce volume but keep bracket orders attached.

Copy Trading with Futures

Copy Modes Matrix

Hybrid Mode (Futures → Futures)

When both sender and receiver are futures accounts, copy trading operates in hybrid mode with full bracket support:

• Sender opens with SL/TP → receiver opens with matching bracket orders
• Sender modifies SL/TP → receiver’s bracket orders are updated
• Sender partial closes → receiver’s volume and brackets are adjusted
• Sender full closes → receiver closes and brackets auto-cancel
• Sender uses REMOVE_SL/REMOVE_TP → receiver’s matching bracket is cancelled

Entry/Exit Mode (Cross-Asset)

When copying between forex and futures, only entry and exit signals are copied. SL/TP management is not copied because:

• Distance units differ (pips vs ticks)
• SL/TP mechanisms differ (order fields vs bracket orders)
• Contract sizes and leverage are fundamentally different

Risk-Based Position Sizing

Use RISK instead of VOL to calculate position size based on your account balance and SL distance:

Calculation:

Example: Account balance $50,000, RISK=2, SL=6 ticks on ES:

• Risk Amount = $50,000 × 0.02 = $1,000
• Contracts = $1,000 / (6 × $12.50) = 13.3 → 13 contracts

Futures Commands Reference

Key Differences from Forex

1. Pending orders in terminal only - You can place pending orders manually in the terminal on Tradovate/NinjaTrader. Automation signals for pending orders (BUYLIMIT, SELLLIMIT, BUYSTOP, SELLSTOP) are not yet supported for futures.
2. No magic numbers or comments - These fields are not supported by the futures API
3. SL/TP are separate orders - Not fields on the position, but bracket orders managed independently
4. Tick-based distances - Use TPSLTYPE=TICKS instead of TPSLTYPE=PIPS
5. Automatic bracket cleanup - Full close always cancels remaining brackets
6. Base symbols - Enter ES not ESM6, the platform resolves to front-month
7. Contract sizing - Volume is in contracts, not lots. 1 ES contract = $50/point