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Herman,
One approach that might help in the decision process is to determine
how many times trades actually fall short of/reach/exceed your profit
stop. And by how much does it fall short/reach/exceed your profit
stop.
These questions will help you determine optimum levels. Maybe the
optimum is to have 2-3 target levels, where you exit a portion of
your position at each level.
I started doing this when I found out the percentages of my positions
that fail/reach/exceed my profit targets. So I now "scale out" of
positions accordingly.
HB
--- In amibroker@xxxxxxxxxxxxxxx, "Herman van den Bergen"
<psytek@xxxx> wrote:
> OK, I like profit Stops, they seem to improve on all of my short-
term
> systems.
>
> The question is how to determine the best stop levels. PStops don't
get
> activated to often, compared to the number of trades, and
optimizing for a
> percentage PStop tends to capitalize on one or two rare/lucky price
moves.
> So really the optimized percentage is not correct for the future.
It is
> difficult to optimize.
>
> A lot has been written on Maximum Loss Stops but not so much on how
to set
> profit stops.
>
> has anybody seen any discussion on this, or any formulas?
>
> thanks,
> herman.
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