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Harvey Pearce wrote:
>
> My apologies to any who sent in messages on this topic or "HHV Since
> Entry" in the last twelve hours. A batch of messages evaporated after I
> had downloaded them.
>
> After exploring a number of dead ends, I have come to the conclusion
> that there is no exact answer, and the only way to time an indicator
> from entry into a trade is to find some approximation to the conditions
> that generate the trade, or alternatively to use a trailing stop, which
> is just what people have been telling me.
Harvey, if I may I would like to take this opportunity to address the
subject of the trailing stop in Metastock. I would aggree that using a
trailing stop might accomplish what you've set out to do. But I believe
Metastock is somewhat lacking when it comes to setting trailing stops
using the "stops" function in the system tester. Note: This is for
version 5.11 if 6.5 fixes the problem somebody please let me know. As
far as I can tell there are 2 choices: 1) stop percent/points (this is
good) and 2) periods to ignore (this is no good) What I think it should
do instead of "crudely" ignoring days is have the ability to "set" a
minimum profit gain before the trailing stop kicks in. As an example it
would be nice to say ONLY after the position has a profit of 15% place a
trailing stop of 3%. The way it's set up now (I believe) is if a 3%
trailing stop is in place it will go into effect as soon as the position
has a profit of 3%. I think the "ignore" days function is Metastock's
answer to this but it doesn't consider profit gain just time which is
sloppy at best. I know I could be missing something here, in fact I hope
I am. Does anyone know of a way to "set" a profit gain level for a
trailing stop to kick in?
Regards... John
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