RE: Setting stops in TS2K?

[cash@xxxxxxxxxxx]

Dave,

Thanks for the suggestion.  I'll play with it and see if it fits in with 
what I'm doing.

In your opinion, is it better to work this in with my main signal or 
should I keep it as a separate signal and have it as one of the 
signals in my strategy?

Thx,

Cash


Send reply to:  	<dave@xxxxxxxxxxx>
From:           	"Dave Nadeau" <dave_nadeau@xxxxxxxxx>
To:             	"Omega List" <omega-list@xxxxxxxxxx>, <cash@xxxxxxxxxxx>
Subject:        	RE: Setting stops in TS2K?
Date sent:      	Sun, 12 Aug 2001 11:12:44 -0400

> Cash,
> 
> You can write the whole thing in your EasyLanguage code, and at the
> end just build a strategy using the Entries and Exits from that code.
> That way you can keep your variables working.  Write this as part of
> your current signal or as a separate one that you add in when you
> build the strategy:
> 
> 
> > For example, I want to set my trailing stop based on a few things:
> > Once I'm in a position, I want to initially set my trailing
> > stop = (10%
> > of the 20 day average true range) + .25.
> > Then, for every .25 profit, I want to increment my trailing stop by
> > .05.
> 
> 
> {Cash's Variable Stop ****************
> 
> 	created 8/12/2001***************}
> 
> Vars: Incr(0),StartPoint(Close);
> 
> Incr=IntPortion(OpenPositionProfit*4);
> StartPoint=0.10*AvgTrueRange(20)+0.25;
> 
> {Long Stop}
> If MarketPosition > 0 AND Close < Close[1]-(StartPoint + 0.05*Incr)
> then ExitLong at Close;
> 
> {Short Stop}
> If MarketPosition < 0 AND Close > Close[1]+(StartPoint + 0.05*Incr)
> then ExitShort at Close;
> 
> SetExitOnClose;
> 
> {***************************************}
> 
> Do check the logic on this; I'm not sure from where you want your
> trailing stop to operate--I've assumed the prior bar's close.  Also
> you said the ATR for 20 days--I assumed you meant bars.  Anyway, this
> should give you the gist of how to set it up.
> 
> ================
> Dave Nadeau
> Fort Collins, CO
> 
> 
> 
> 
> 
> 
> > So what I have is an initial stop and then as the position builds
> > profit, I want to give it more room to breathe.
> > Then I want to check on the last bar of the day if I'm still in the
> > position, I won't use the stop, I'll just exit at the close.
> >
> > The thing I can't figure out is that if I use the signals
> > in the strategy
> > builder, how do I keep adjusting the stop based on my current
> > position's profit?  The only way I can see doing this is by
> > incorporating it in my main signal.  Either that, or I don't have a
> > good grasp on the strategy builder.
> >
> > OK, now just a stream of conciousnous thought.
> > I build a signal called EnterPosition which eventually gets me in a
> > position
> > I also build a signal called set trailing stop.  This
> > signal looks at my
> > current position, the 20 day ATR, the entry price of my current
> > position, and the profit of my current position.  It then
> > enters a stop
> > for the appropriate amount.
> >
> > Cash
> 
> 
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