|
PureBytes Links
Trading Reference Links
|
Nicely done by John whom I respect.
However, my experience shows the best exits are derived partially from the
current openpositionprofit of the position.
This logic is a good starting point, but needs to take into consideration
where the
position resides....profit,loss, near breakeven.
> -----Original Message-----
> From: profitok [mailto:profitok@xxxxxxxxxxxxx]
> Sent: Saturday, November 17, 2001 4:31 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Re: Profit Taking
>
>
> try the perfect stop
> for ts2000
> see the credit for writing it goes to:
> {*****************************************************************
> **********
> *****************
> Title: Three day volatility StopLoss
>
> Description: Three day volatility StopLoss increases the stoploss value
> when 3-day volatility
> increases above the 5 and 8 day volatility. Change in risk is
> proportional to
> the percent increase in volatility.
>
> Written by: John Hall
>
> History: Written 7/29/01
>
> ******************************************************************
> **********
> ******************}
>
> Inputs: price((H+L)/2), dollar_risk(500), PositionBasis(True);
> variables: RiskCalc(0), OrderPrice(0), stoploss(0);
>
> stoploss = dollar_risk;
>
> If MarketPosition = 1 and PositionBasis Then Begin
> If volatility(3) > volatility(3)[3] and volatility(3) > volatility(5) and
> volatility(3) > volatility(8) then
> stoploss = dollar_risk * (1 + ( volatility(3)/volatility(3)[3] ));
>
> If volatility(3) < volatility(3)[3] and volatility(3) < volatility(5) and
> volatility(3) < volatility(8) then
> stoploss = dollar_risk * (1 - ( volatility(3)/volatility(3)[3] ));
>
> RiskCalc = stoploss + Commission;
>
> If BigPointValue <> 0 Then
> OrderPrice = EntryPrice - (RiskCalc / BigPointValue);
>
> ExitLong ("longX") Next Bar at OrderPrice Stop;
> End;
> If MarketPosition = -1 and PositionBasis Then Begin
> If volatility(3) > volatility(3)[3] and volatility(3) > volatility(5) and
> volatility(3) > volatility(8) then
> stoploss = dollar_risk * (1 + ( volatility(3)/volatility(3)[3] ));
>
> If volatility(3) < volatility(3)[3] and volatility(3) < volatility(5) and
> volatility(3) < volatility(8) then
> stoploss = dollar_risk * (1 - ( volatility(3)/volatility(3)[3] ));
>
> RiskCalc = stoploss - Commission;
>
> If BigPointValue <> 0 Then
> OrderPrice = EntryPrice + (RiskCalc / BigPointValue);
>
> ExitShort ("ShortX") Next Bar at OrderPrice Stop;
> End;
>
>
> ----- Original Message -----
> From: "Brian Keith Voiles" <admagic@xxxxxxxx>
> To: "Rich Tuchow" <rtuchow@xxxxxxxxxxxxxxx>
> Cc: <omega-list@xxxxxxxxxx>
> Sent: Saturday, November 17, 2001 3:25 PM
> Subject: [RT] Re: Profit Taking
>
>
> > Rich,
> >
> > I am in the exact same boat as you. I think it's a personal matter,
> really.
> > My daily goal is to make 4 handles... $1000 less commissions. I break
> > my daily goal into two, two-handle trades. Then I turn off the
> computer.
> >
> > If I lose 4 points, I call it a day, as well. That's the max
> I'm willing
> to
> > lose on any given day.
> >
> > As my account builds, it's my intention to trade 2 lots, 3 lots, and
> > eventually 4 lots. (Right now I can't "see" past 4 lots -- maybe when I
> > get there...).
> >
> > I think the reason I've chosen to do it this way is because I
> don't really
> > perceive myself as a "real" trader. Let me put it differently:
> trading is
> > not who I am -- it's what I DO to facilitate the living of my dreams.
> >
> > In other words, I don't want to eat, sleep, and breath trading 24-7.
> > I use the $1000 a day (soon to be $2000, then $3000, and then
> > eventually $4,000) to allow me the time freedom and money freedom
> > to live my dreams. Which for me is:
> >
> > 1) being a great "stay at home" dad for my kids
> > 2) writing and studying music
> > 3) writing inspiring stories and books about life
> >
> > Having said all this.... it would be really nice to let the profits run
> > on occasion. I haven't found a "real" answer to your question. For
> > I, too, have had the same experience in the past as you have... that
> > of:
> >
> > "It seems that every time I grab the 3-5 point profit the trade
> > goes on to 10-15 points and every time I let profits run, the 3-5 point
> > profit disappears. I am not particularly found of trailing stops
> > because I have to be willing to give back a fair amount of profit."
> >
> > This is my experience as well. BUT... that's what led me to the
> > decision I've come to: "Make 4 Points Today, Then Go & Play"!
> >
> > I'd love to hear what other feedback you get. Please keep in
> > touch... I'll add you to my list of S&P traders whom I try to keep
> > in contact with.
> >
> > Warmly,
> > Brian Keith Voiles
> >
> >
> >
> >
> > At 08:34 AM 11/17/2001, you wrote:
> > >I am an S&P day trader and keep going back and forth in my mind my exit
> > >strategy. There are 2 schools of thought 1)let profits run 2)don't try
> to
> > >be a pig on every trade. It seems that every time I grab the 3-5 point
> > >profit the trade goes on to 10-15 points and every time I let profits
> run,
> > >the 3-5 point profit disappears. I am not particularly found
> of trailing
> > >stops because you have to be willing to give back a fair amount of
> profit.
> > >Others use a staggered exit strategy such as take 1 contract off at 3
> points
> > >another at 5 another at 8 etc.
> > >
> > >I would be interested in hearing only from successful S&P day traders
> which
> > >school of thought they follow.
> > >
> > >Thanks
> >
> >
> >
> > 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/
> >
> >
>
>
>
> 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/
>
>
>
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Universal Inkjet Refill Kit $29.95
Refill any ink cartridge for less!
Includes black and color ink.
http://us.click.yahoo.com/E11sED/MkNDAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
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/
|