RE: [Metastockusers] SYSTEM TEST: STOPS

["Joe J." <jojab@xxxxxxxxx>]

I 
think the bigger picture issue here is what the daily range of your stock 
is.  I would caution against using a fixed 1/2 point your stop and 
your target.  What if the normal range for your stock is 1 point?  The 
system is going to stop you out unnecessarily just on a "normal" range 
day.
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Most 
system traders gravitate towards variable stops based on the stock 
itself.  Read up on the concept of ATR (average true range) as a starting 
point.  Other suggestions might include using a move 
below a recent low (say a 2 day low) if long, etc.
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Good 
Trading,
<FONT face=Arial color=#0000ff 
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Joe 
J.  

  <FONT face=Tahoma 
  size=2>-----Original Message-----From: uhehs@xxxxxxxx 
  [mailto:uhehs@xxxxxxxx]Sent: Friday, April 25, 2003 9:25 
  AMTo: Metastockusers@xxxxxxxxxxxx comSubject: 
  [Metastockusers] SYSTEM TEST: STOPS
  
  <FONT face=Arial color=black 
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  >Yet 
  another bit of confusing when reading the User 
  Manual.
  <FONT face=Arial color=black 
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  > 
  <FONT face=Arial color=black 
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  >BREAKEVEN<SPAN 
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  >:<SPAN 
  >  I&#8217;m going to ignore this for 
  now.
  <FONT face=Arial color=black 
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  >INACTIVITY<SPAN 
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  >:<SPAN 
  >  
  Ignore
  <FONT face=Arial color=black 
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  >MAXIMUM 
  LOSS<FONT face=Arial 
  color=black size=2><SPAN 
  >:<SPAN 
  >  I would like to specify ½ point or 50 
  cents.  I&#8217;m assuming I should 
  choose:
  <FONT face=Arial color=black 
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  >X<SPAN 
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  > Longs 
  and  <SPAN 
  >X 
  Shorts
  <FONT face=Arial color=black 
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  >X<SPAN 
  class=EmailStyle16><SPAN 
  > 
  Points
  <FONT face=Arial color=black 
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  >Maximum 
  Loss = .50
  <FONT face=Arial color=black 
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  >X<SPAN 
  class=EmailStyle16><SPAN 
  > Exit 
  at Sop Price
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  > 
  <FONT face=Arial color=black 
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  >CORRECT?
  <FONT face=Arial color=black 
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  > 
  <FONT face=Arial color=black 
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  >PROFIT 
  TARGET and TRAILING<FONT 
  face=Arial color=black size=2><SPAN 
  >:<SPAN 
  >  I like to let profits run with a 
  trailing sell stop of ½ point increments.
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  >Does 
  this need to be coded in the Close Long tab of the System 
  Editor.
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  >Can 
  someone please help with this?
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  > 
  <FONT face=Arial color=black 
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  >Or, do 
  I leave the PROFIT TARGET section of STOPS blank and place .50 in the Profit 
  Risk of TRAILING?
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  > 
  <FONT face=Arial color=black 
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  >PHEW.<SPAN 
  >  Sorry I&#8217;m asking so much folks.<SPAN 
  >  But this is a major intermediate 
  hurdle for me to get the ball rolling for some serious testing this 
  weekend.
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  > 
  <FONT face=Arial color=black 
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  >ALL 
  HELP IS APPRECIATED AND APPLAUDED!
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  > 
  <FONT face=Arial color=black 
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