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Hello
if you are at 7% above entree take 1/2 the position off the table
move stop loss 3.5% under the high since entree,
if position is only 1 contract move stop up the same amount but stay long
any volunteers to finish coding it ?
----- Original Message -----
From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: "Brian Keith Voiles" <admagic@xxxxxxxx>
Sent: Saturday, November 17, 2001 6:45 PM
Subject: RE: [RT] Re: Profit Taking
> 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/
> >
> >
> >
>
>
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
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