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Hi
David,
<FONT face=Arial color=#0000ff
size=2>
The
code is meant to be used as an Exploration (instead of a Scan), and the buyand
sell stops are for the *next* bar. If price doesn't cross the buy or sell
stop, you remain flat, so it isn't meant to be a trading system. You also
need to take into account how you will exit, which in my case usually involves
trailing a stop for 3-5 days, unless I get a parabolic move in which case Iwill
often sell into it.
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size=2>
In the
graph you posted, you would place a sell stop the night of 1/4/2000 at 1.85(the
low) - .125 (to reduce whipsaws) for the following trading days open.
Becuase the issue you tested is a low priced one, you might want to adjust the
.125 to better reflect its daily range. I trade issues over 10 dollars
usually, so the 1/8 is good enough for me. You would have been filledon
the sell stop on 1/5/2000 and then you would place a buy stop (Stop loss) at
1.89 (the 1/4/200 signal High price) + .125 or so. The sell stop would
never be hit and the down trend resumed providing you with a pretty decent entry
into a trending issue. The ensuing downtrend did take a while to
ramp up, and I probably would have been bored and out before it really
moved.
<FONT face=Arial color=#0000ff
size=2>
Hope
that helps to clear up its use a little. For a great reference, take a
look at Dave Landy on Swing Trading, which is where I pulled the pattern
from. It explains the method pretty well.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Daniel
<FONT face=Tahoma
size=2>-----Original Message-----From: David Holzgrefe
[mailto:dtholz@xxxx]Sent: Tuesday, November 06, 2001
10:44 PMTo: amibroker@xxxxxxxxxxxxxxxSubject: Fw:
[amibroker] Dave Landry Pullback Code - Fixed
----- Original Message -----
From: <A
title=dtholz@xxxx href="">David
Holzgrefe
To: <A title=amibroker@xxxxxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Wednesday, November 07, 2001 2:34 PM
Subject: Re: [amibroker] Dave Landry Pullback Code -
Fixed
I look quite good Daniel
but there seem to be some strange occurance with
ami the buys/sell don't seem to match up with the buy sell text
see attachement the hilight buy arrow isa sell
date in the aa window ?
David
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Daniel Ervi
To: <A title=amibroker@xxxxxxxxxxxx
href="">amibroker@xxxxxxxxxxxxxxx
Sent: Wednesday, November 07, 2001 1:55
PM
Subject: [amibroker] Dave Landry
Pullback Code - Fixed
<SPAN
>Oops.<SPAN
> I forgot to switch my > and <
comparisons when I cut and pasted a section of the code.<SPAN
> The new fixed version is included
here. It gave some good signals
this last week, such as BSX, SYMC and WEBX.
<SPAN
>
<SPAN
>Sorry for the second
email.
<SPAN
>
<SPAN
>DanielYour
use of Yahoo! Groups is subject to the <A
href="">Yahoo! Terms of Service.
Your
use of Yahoo! Groups is subject to the <A
href="">Yahoo! Terms of Service.
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