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Hans T. Hingst wrote:
>
> Tom, Bruce,
>
> How are these stops being created? Are you using a formula in MetaStock or
> some other program? How applied?
>
> Thanks,
>
> H
> -----Original Message-----
> From: BGiroux <bgiroux@xxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx <metastock@xxxxxxxxxxxxx>
> Date: Friday, August 14, 1998 6:11 PM
> Subject: Re: Psychology of trading...
>
> >Tom Strickland wrote:
> >>
> >> Bruce,
> >>
> >> Here's a suggestion for your consideration. I've just started using it so
> I
> >> don't have a sufficient track record yet, but I feel better (i.e., less
> >> indecisive) about my trading.
> >>
> >> I have my program generate stop values at the end of the day and set them
> >> at night for the next trading day. This way, the actual trades are
> >> automatic - the market actually decides for me.
> >>
> >> Hope you find this to be of some value.
> >>
> >> Tom Strickland
> >
> >I agree stops help a great deal, The system I employ now defines the
> >stops for me. The mechanical stops eliminate the 'noise' of any
> >descision I am required to make regarding the exit. Prior to my use of
> >the stops, I had a trouble getting out of trades with any consistent
> >(profitable) results.
> >
> >Thanks,
> >
> >Bruce
> >
My mechanical stops are generated by the trigger line of my system. The
system trigger line has a lag and as such I need to implement written
rules to provide the stops when the position is initally made. After a
period of time, the mechanical stop works within the parameters of my
design. I designed the mechanical stop to work within my comfort level
allowing for a percent of the position to be 'given' back to the market
before my exit.
Bruce
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