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Re: [amibroker] Exiting Trades



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Hello Everyone.
 
I have been a AB user since 3.2 (approx) and I have 
been away for a few years.
 
It is a pleasure to still see so many old faces, 
excuse me Yuki, Dimitri....perhaps I should stop there.  And how the 
messaging has grown.  It used to be good to get 5 a day, but now 70!!! a 
day.
 
Anyway, I post today to suggest to everyone that 
apart from a lot of noise about data purity and a few other things, everyone is 
focussing on entries.
 
I should like to suggest that we should have a 
small competition for those who like to program.  The competition should be 
on exits.  I propose that a random entry should be made and then everyones 
favourite gangbuster exit system be tested.  I would be happy to receive 
emails and I will test against a number of undisclosed share and future OHLC 
data series with fixed entry points (also undisclosed) and report which system 
or strategy of exit worked the best.  I know this will blow away all those 
systems that rely on "I make a fixed profit", or "I exit on a x% retreat 
systems".  But I think a simple line of code that is applied to you exit 
code will accomodate that anyway.
 
The premise is that everyday you should ask "would 
I enter this trade today if I wasn't already in it"..  This is challenging 
because you will quickly find out that there are gamblers amongst 
you.
 
I don't want to enter all the pros and cons of this 
idea, I could sit here and argue them all myself as many of you also 
could.  My intention is to get everyone of the gangbuster entry mania and 
concentrate on preservation of wealth.  In short, if I only ever lose on 
very small amounts, but always hang there for profits we shall all see the best 
( most robust sustainable) strategy not the flukiest.
 
If it don't suit what you do fine, lets not argue 
about it.  If nothing else at least this post has made you think about 
EXITS!
 
...and that's my cue to go...
 
bye
 
Peter


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