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Hi Dave,
I was going thru the archives looking for something and came
across a post you had about opening only orders. I'm working on a
similar system. Did you ever have any luck finding a broker that
would do that for you?
Based on your post, our strategies are different, but the broker
needs may be the same. If I'm correct, you'll more than likely need
to have a professional trading account so that you can put in the
number of orders you need to get the number of hits you want.
With a retail account, you'll be limited by your account equity.
Cash
Send reply to: <dave@xxxxxxxxxxx>
From: "Dave Nadeau" <dave_nadeau@xxxxxxxxx>
To: <cash@xxxxxxxxxxx>, <dave@xxxxxxxxxxx>
Copies to: <omega-list@xxxxxxxxxx>
Subject: RE: Setting stops in TS2K?
Date sent: Sun, 12 Aug 2001 12:21:23 -0400
> I guess it depends on how specific this exit is for you. If you write
> it as a separate signal, you can use it in other strategies, now and
> in your future coding; if you intend it for this approach exclusively,
> then you might find it easier to edit the code all in one place. It's
> really a matter of personal preference.
>
> --Dave
>
> > -----Original Message-----
> > From: cash@xxxxxxxxxxx [mailto:cash@xxxxxxxxxxx]
> > Sent: Sunday, August 12, 2001 2:42 PM
> > To: dave@xxxxxxxxxxx
> > Cc: omega-list@xxxxxxxxxx
> > Subject: RE: Setting stops in TS2K?
> >
> >
> > 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
> > >
> > >
> > > _________________________________________________________
> > > Do You Yahoo!?
> > > Get your free @yahoo.com address at http://mail.yahoo.com
> > >
> >
> >
> >
> > "Buy Low, Sell High"
> > (If this statment is used for financial gain, I am entitled
> > to 10% of all profits. ;) )
> >
>
>
> _________________________________________________________
> Do You Yahoo!?
> Get your free @yahoo.com address at http://mail.yahoo.com
>
"Buy Low, Sell High"
(If this statment is used for financial gain, I am entitled to 10% of all profits. ;) )
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