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Hello.
How would I go about implementing a dollar stop, a la Larry Williams
and others (let's say close if loss in an open trade exceeds $1000)?
Doesn't seem to be supported by ApplyStop. The answer from support
was:
> > > Hello,
> > >
> > > You can code it with use of ApplyStop() funtion:
> > >
> > > ApplyStop(stopTypeLoss,stopModePoint,1000);
> > >
> > > You can also set it up in:
> > > Analysis -> Automatic Analysis -> Settings -> Stops (tab)
> > > (Maximum Loss Stop, point, enter 1000 in the field)
> > >
> > > See:
> > > http://www.amibroker.com/guide/afl/afl_view.php?applystop
I don't think this is what I want - doesn't this mean the stop is
activated after the stock drops 1000 *points*? That seems to be how
StopModePoint works. So on a 500 share trade, that's a loss of 500K.
Now I could do it in conjunction with position size, (set Point stop
at 2 for 500 shares), but I want to be able to do it independently of
position size right now.
Thoughts?
Thanks,
Chris
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