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anyone got code for the system described below?
I don't know how to code the 3*ATR stop that moved only in my
direction,
I don't know how to enable entry short triger only after
the long was stopped out.
i.e. how do you code an "do I own it now" indicator?
I have a bad random indicator based on volume but can't get a good
random func like x = (16807 * x) MOD 2147483647
to work in metastock.
thanks Rob.
"
Tom Basso designed a simple, random-entry trading system … We
determined the volatility of the market by a 10-day exponential
moving average of the average true range. Our initial stop was three
times that volatility reading. Once entry occurred by a coin flip,
the same three-times-volatility stop was trailed from the close.
However, the stop could only move in our favor. Thus, the stop moved
closer whenever the markets moved in our favor or whenever volatility
shrank. We also used a 1% risk model for our position-sizing
system. ...
We ran it on 10 markets. And it was always, in each market, either
long or short depending upon a coin flip. ... It made money 100% of
the time when a simple 1% risk money management system was added. ...
The system had a (trade success) reliability of 38%, which is about
average for a trend-following system.
Source: Van K. Tharp , Trade Your Way to Financial Freedom
"
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