RE: [amibroker] Newbie Trader Question, AmiBroker Email List Archive

Craig,

It depends on the resolution of data you use for your system. If you only use EOD data to calculate your indicators, you probably do not need intraday data. In that case, you can use OCA (one cancels all) brackets for your stop loss and target orders. You would adjust them each day after you have new calculations. Also, with the OCA orders you would not have to monitor AB for alerts during the day because the orders will get executed automatically if your stop or target gets hit and the opposite order will get automatically canceled.

If you are using intraday data (e.g. 5min, 15min, hourly, etc.) for calculating your indicators, then you’ll probably want real-time data. Real-time data will enable you to have intraday alerts. If you use a broker like Interactive Brokers which AB has an interface, the real-time data feed is free (with $30 min commissions a month).

Regards,

David

From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf Of cmaiman
Sent: 04/26/2007 1:25 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] Newbie Trader Question

Hi All,

Kind of a basic question. If my plan is to typically hold stocks for
1 to several days (specifically not a daytrader) is the following my
basic needs?:

* Trading System Development SW (AmiBroker of course!)
* Data Feed
* Brokerage Account

My question really is that it seems to me that you *need* to have a
Real Time data feed. Assume I develop the following in AmiBroker:
Entry Criteria, Profitable Exit Criteria and Stop Loss Point. I can
see that you could get away with end-of-day data for the Entry
determination. But what if the exit criteria happens midday? I'd
want AmiBroker to jump up and say Exit! Maybe the stop loss could be
on your brokerage account, but the profitable exit criteria could be
some complex set of indicators and I'd want to do that in AB.

Am I missing something? Seems like you need the RT data.

Thanks!

Craig

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