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Actually, what I use is a daily high, daily low, midpoint, and 1/3 and 2/3
channel lines with some smoothing on the price. The Breadth Trigger in the
bottom plot is Charles Johnson's arrary sampler for Oddball work.
bobr
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, November 01, 2001 10:30 AM
Subject: Re: [RT] RT:ODDBALL
> Last year when Mark published his article in Active Trader I asked him
about
> stops, particularly the risk of overnight exposure. He acknowledged the
> inherent risk, but he also said that was one of its strengths in that the
> gaps tended to benefit it more so than not. He also emphasized the basic
> system was an example of how simple a system could be and yet be quite
> profitable in the long run. Yet, who in the real world can trade without
> stops? He also planned followup articles enhancing the system.
>
> Since the OddBall system samples hourly during the day session, it leaves
> you exposed for an entire hour at a time plus overnight. Commissions are
> low these days so exiting end of day and re-entering the next day is one
> option. Another is to put on an option hedge before the close and taking
it
> off the next morning, Ben or IRA could explain the details of this. Since
> the Oddball has time filter qualities try using a time based type of stop.
> Intraday try using a "multi-timeframe" type of channel. Suppose you are
> using 3 minute bars and using Charles Johnson's array sampling
> code(excellent stuff) then create a highest high and lowest low and
midpoint
> channel to protect you during that hour long exposure. Twenty bars would
be
> one hour so a midpoint line based on the highest high and lowest low might
> be of value. I haven't backtested this with the oddball system, but have
> been watching it today. Problem is, the oddball system is optimized for
> simplicity and additions to the code may detract from its performance.
> That's the tradeoff. Another thing you might try is not taking the first
> 9AM ET or 8AM CT trade until another half hour has passed. The reason is
> the two half hour drives that occur are one source of the whipsaws.
>
> plot1(Highest(H,20),"H");
> plot2(0.5*(Highest(H,20)+Lowest(L,20)),"Mid");
> plot3(Lowest(L,20),"L");
>
> Use the Mid line for a stop and re-entry in the direction of the current
> Oddball signal.
>
> bobr
>
>
> ----- Original Message -----
> From: "Eliot Kaplan" <eliot@xxxxxxx>
> To: "RealTraders Mail List" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, November 01, 2001 9:53 AM
> Subject: Re: [RT] RT:ODDBALL
>
>
> > Michael,
> >
> > I just started following the Oddball about a week ago, and it has had
> > 2 great signals (20-30+ point winners), followed just the last day or
> > so by 2 that were small losers, and today's which remains in process.
> >
> > It seems quite remarkable overall.
> >
> > I myself am wondering how to trade it using a stop. I can't trade it
> > without one for obvious reasons, and have been considering a 10 point
> > SP emini stop as perhaps wide enough to stay out of it's way. I'm not
> > a backtester, so I imagine, others have tried to test this, and it
> > would be interesting to hear BobR or others comment on the use of
> > stops with Oddball.
> >
> > Essentially, does a stop ruin it? And what lengths show best results?
> >
> > Eliot
> >
> >
> >
> > >BobR, or anyone following oddball? wonder if it got whipsawed
yesterday,
> > >thought $ADV was advertising close on high.
> > >
> > >Pretty choppy SP. Looks like expiration. Looks like Earl nailed it, ND
&
> SP
> > >clashing.
> > >
> > >
> > >
> > >To unsubscribe from this group, send an email to:
> > >realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
> > >Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
> > --
> > ^^^^^^^^^^^^^^^^^^^^^^^^^^^^
> > Eliot Kaplan
> > 20211 Croydon Lane
> > Topanga, CA 90290
> > Voice: 310.455.3810
> > Fax: 310.455.3085
> > email; eliot@xxxxxxx
> > web: www.isu.com
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
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>
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>
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