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Hi Nikku,
Thanks for the great explanation...makes it easy to follow and
understand..now, i have a further question.
How do I get the trailing stop to move up further as the price moves up?
That it, not just move up once and place a new stop and wait for a
retracement, but move the stop up again after a further x% rise in the
price? Basically, if the price keeps rising, the stop keeps moving up.
Thanks,
Andrew.
> The answer involves an analysis of this part of the code - keep it in
> mind for what follows
>
> *pct=IIf((MA(C,2)-buyat)/buyat > MinGainPct,trailPct,9999);*
>
> MinGainPct is expressed as .04 because of the* (MA(C,2)-buyat)/buyat*
> element of this line of code. Let's say that the close for the past two
> days has been $10.00. We have bought at $10.50. The calculation for
> 'pct' would then be
>
> MA(C,2)-buyat/buyat
>
> ($10-$10.5)/$10.5 = app.-0.0476
>
> At this moment,
>
> *(MA(C,2)-buyat)/buyat IS NOT GREATER THAN MinGainPct
>
> *(Remember, MinGainPct has been set at 0.04; -0.476 is clearly not
> greater than 0.04)
> *
> *so the 'pct' variable will feed the trailing stop with 9999; in other
> words, the trailing stop will kick in when 9999% of the profit has been
> given back - this is just a way to say 'The trailing stop is NOT
> activated'.
>
> Now let's say the closing price goes up and one day we close at $12.20;
> the day before this, the close was $11.80. The MA(C,2) in this case will
> be $12.00. If we insert this new number into the formula, we get
>
> MA(C,2)-buyat/buyat
>
> ($12-$10.5)/$10.5 = app.0.143
>
> At this moment,
>
> *(MA(C,2)-buyat)/buyat IS GREATER THAN MinGainPct (which is 0.04)
>
> *Now the 'pct' variable will feed the trailing stop with the 'trailpct'
> value because the conditions for activation of the trailing stop have
> been met - that is,
> (MA(C,2)-buyat)/buyat [which now equals 0.143] has been calculated to be
> greater than the MinGainPct (0.04).
>
> Of course you can change the value of MinGainPct to suit your needs.
>
> Trailstop does signify the amount you allow the trade to retrace (once
> it gets past the MinGainPct threshold) before exiting.
>
> Hope this helps
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