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<DIV>Is anyone trading whereby the trade must prove itself immediately or you're
out? I've tried super tight stops and,yes, I kept getting stopped out
immediately. I've tried generous support as stops and it blew right
through. I want to take into account some market noise, but if I think I
just bought into a change of trend (after a small retracement) and the trend
doesn't prove itself, how quick should I get out? </DIV>
<DIV> </DIV>
<DIV>As I read price more than indicators, sometimes my gut says bail, but my
stop is sitting on a logical support level. Do I follow my gut and bail
rather than take the hit my methodology is about to deliver me? Comments
please. Thanks!</DIV>
<DIV>Linda</DIV>
<DIV> </DIV>
<DIV>linda@xxxxxxxxxxxxxx<BR>Climb the
mountains & get their glad tidings: Peace will flow into you as sunshine
into flower; the winds will blow their freshness into you & storms their
energy, & cares will drop off you like autumn leaves. John Muir 1838 -
1914</DIV>
<DIV> </DIV>
<DIV> </DIV></BODY></HTML>
</x-html>From ???@??? Sun Apr 11 13:35:48 1999
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Date: Sun, 11 Apr 1999 16:32:59 -0400
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From: Bob Fulks <bfulks@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Gen: question about stops
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At 3:22 PM -0400 4/11/99, Linda Swope wrote:
>Is anyone trading whereby the trade must prove itself immediately or
>you're out? I've tried super tight stops and,yes, I kept getting stopped
>out immediately. I've tried generous support as stops and it blew right
>through. I want to take into account some market noise, but if I think I
>just bought into a change of trend (after a small retracement) and the
>trend doesn't prove itself, how quick should I get out?
>
>As I read price more than indicators, sometimes my gut says bail, but my
>stop is sitting on a logical support level. Do I follow my gut and bail
>rather than take the hit my methodology is about to deliver me? Comments
>please. Thanks!
>Linda
>
You can wait until the price is moving in your direction to enter. The
following code keeps a buy order active for a specified number of bars,
moves the buy stop point down with each bar if the price moves down, then
enters when the price starts back up. There are many variations of this
idea.
Bob Fulks
----
if <buycondition> then begin
BuyOK = TRUE;
SelOK = FALSE;
Count = 0;
end;
if <selcondition> then begin
BuyOK = FALSE;
SelOK = TRUE;
Count = 0;
end;
BuyPt = High + 1 point;
SelPt = Low - 1 point;
if BuyOK then Buy next bar at BuyPt stop;
if SelOK then Sel next bar at SelPt stop;
if Count < MaxCount then
Count = Count + 1
else begin
BuyOK = FALSE;
SelOK = FALSE;
end;
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