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<FONT face=Arial color=#0000ff
size=2>John,
I
understand what you mean, but this still restricts you to to exit/enter at the
OPEN HIGH LOW or CLOSE, Even though you coded it with an ATR profit stop, MS
will not allow you to exit at that price.
<FONT face=Arial color=#0000ff
size=2>B.T.W I took a look at other software the other day, and found a
ton of programmes who where even 1/2 the price of MS who had this option
available.
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Greetings
<FONT face=Arial color=#0000ff
size=2>Mickey
<BLOCKQUOTE dir=ltr
style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #0000ff 2px solid; MARGIN-RIGHT: 0px">
<FONT face=Tahoma
size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of jhmtnSent: zondag 18 maart 2001 19:32To:
metastock@xxxxxxxxxxxxxSubject: Re: Profit
Stops
Michel,
The way I attempt to get around this is by
reducing the pieces of my strategy that I test for. Rather than attempt
to try to set up a specific stop, I simply run the System Tester for Longs (or
Shorts) only with a known profitable entry for the Open Long (or Short)
option, then set the Close Long (or short) option for optimizable stop I want
to test.
Then, I can run the normal open and close system
testing by ORing the normal system exit with the stop. It's piecemeal,
but it works.
Hope this helps. ..... John
----- Original Message -----
<BLOCKQUOTE dir=ltr
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=Michel.Amelinckx@xxxxxxxxxx
href="mailto:Michel.Amelinckx@xxxxxxxxxx";>Michel Amelinckx
To: <A title=metastock@xxxxxxxxxxxxx
href="mailto:metastock@xxxxxxxxxxxxx";>metastock@xxxxxxxxxxxxx
Sent: Sunday, March 18, 2001 10:29
AM
Subject: RE: Profit Stops
<FONT face=Arial color=#0000ff
size=2>It's all nice talking about profit stops because it's an important
subject. But anyone using Metastock EOD (don't know with RT) can NOT
implement these things in his SYSTEM TESTING for the simple reason that MS
doesn't support to be able to enter or exit through a stop orders
(AT THAT STOP PRICE) BASED ON SELF CODED RULES like based on ATR. And
the different STOP strategies who are supported ARE NOT OPTIMIZABLE in MS
EOD !
<FONT face=Arial color=#0000ff
size=2>
<FONT face=Arial color=#0000ff
size=2>Greetings
<FONT face=Arial color=#0000ff
size=2>Mickey
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style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #0000ff 2px solid; MARGIN-RIGHT: 0px">
<FONT face=Tahoma
size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx [mailto:owner-metastock@xxxxxxxxxxxxx]On
Behalf Of neoSent: zondag 18 maart 2001 15:08To:
metastock@xxxxxxxxxxxxxSubject: RE: Profit
Stops
<FONT face=Arial color=#008080
size=4>Chuck
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>It would be great if you could write a book just on stops. This
would include all types of stops including the inactivity stop. Although I
have read your material on ATR's I still do not have a good feel for them
and exactly how they should be used and with what parameters. Should
values be different for low and high volatility stocks as well as MFs and
ETFs or does ATR take care of this?
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>I also used two types of trailing stops. One is a protective stop
order that I change daily, is looser, and can be triggered by
the low of the day. The other is based on the close of the day. Should
these be approached differently and with what ATR value? Would it be
better to place the protective stop order based on
lows?
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>There is no book like this and we need one. Of course any insight
would be appreciate here and now.
<FONT face=Arial color=#008080
size=4>
<FONT face=Arial color=#008080
size=4>Thanks, neo
<FONT face=Tahoma
size=2>-----Original Message-----From:
owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of
CRLeBeau@xxxxxxxSent: Saturday, March 17, 2001 6:05
PMTo: metastock@xxxxxxxxxxxxxSubject: Re: Profit
StopsIn a
message dated 3/17/01 9:13:57 AM Pacific Standard Time, neo1@xxxxxxxxx
writes: <FONT lang=0 face=Arial color=#008080
size=4 FAMILY="SANSSERIF">
<BLOCKQUOTE
style="PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #0000ff 2px solid; MARGIN-RIGHT: 0px"
TYPE="CITE">Any thoughts on this?<FONT lang=0 face=Arial
color=#000000 size=3 FAMILY="SANSSERIF">
<FONT lang=0 face=Arial color=#000000
size=2 FAMILY="SANSSERIF">I like to move my stops closer as the
profits get larger. This allows me to have fairly wide stops
at the beginning of a trade (the wide stops at the beginning
of a trade give a higher winning percentage) and then I try to
maximize the size of my winning trades by moving the trailing stops
closer so I give back less of the open profit. This strategy
is for trend following type trades. For counter-trend
trades I just use a profit target and when I see the profit I take
it. I have found that counter trend trades generally tend to
produce profits in the neighborhood of 1.5 to 2.0 ATRs. For
trend-following trades I try to tighten up my stops after 4 ATRs of
profit and then hope for more. I'm leaving for New Zealand this
weekend to do a TraderCamp in Vanuatu with Dr. Elder so I probably
won't be able to answer any e-mail messages while I am out of the
country. I'll be back in the office in April. Chuck LeBeau
www.traderclub.com
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