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Jackpot!
I was not expecting four versions of the formula -- over night, no less -- so I'm
very pleasantly surprised. Jeff, Kevin, Roy, Dave -- many thanks. I'll be working
with the formulas in a few weeks.
Best regards until then,
Philip Schmitz
Philip wrote:
> Greetings,
>
> I would like to ask your help in writing a formula for trailing stops. The
> concepts themselves are very basic:
>
> For short trades: H + ATR(10)
> For long trades: L- ATR(10) . . . or some such, doesn't really matter at this
> point.
>
> But I'd like to write the formula in such a way that once a trade has been
> entered, the stop ONLY moves in the direction of the trade, or stays at the
> same level. Thus, in a short trade, the stop would only follow the market
> down or stay unchanged, it would never retrace any progress it's made, never
> give up any ground, even if the market moved up against the position. The
> same would hold true for a long trade, in reverse naturally. The trailing
> stop moves up with price, but goes sideways if the market drops, thereby
> letting the stop take me out.
>
> Has anyone been over this terrain? I am running MS 6.52.
>
> Best regards,
> Philip
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