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I am trading intraday, using the ATR(10) from EOD data. I am using this on
various stocks. My exit is either stopped out or MOC. After I have a 7/16
profit, I will place a stop order at entry plus 3/16 to cover commish. As
the market moves up, I will tighten my stop and dare/beg the market to hit
it. If the price continues up, I will exit MOC. Can always re-enter
tomorrow. Enjoy sound sleep.
John Manasco posted he tested the system, but I have tried on several
issues, and cannot test it.
I get 0 results, 0 trades. Cannot determine what I am doing wrong, unless
MS does not like the entry consisting of the open+x being < c,-1, and using
the same open to be>c,-1. All I am doing is saying I want the market to
open below yesterdays close, go down "X" points, then show me strength by
reversing the opening move and trade above the previous close by "Y"
points. To me, this is taking out the stops and showing direction. If I
take a trade above yesterday's close, the direction of my position would be
correct. If I'm wrong, a close stop below my entry limits my loss.
HELP
Al Taglavore
From: Trader-M <trader-m@xxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Formula Help-MS ver 5.11
> Date: Wednesday, August 26, 1998 4:16 PM
>
>
> Al:
>
> To simplify your formula, it would look like
>
> enter when:
>
> (0pen + x) < yesterday's close and
> (open + y) > yesterday's close
> In your example, it looks like y = half of x, so you
> satisfy the above conditions.
>
>
> Perhaps something like this would work:
>
> (0pen + x) < yesterday's close and
> High > ( y + yesterday's close)
>
> If you are are trading intraday, the range < ATR(10) is a problem, since
> you won't know the range when the price hits your entry target. If
> entering orders after the close, this would be OK.
>
> What securities do you use this with, and how do you exit?
>
> ..Mark
>
>
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