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From: "Ian Burgoyne" <iburgy@xxxxxxxxxxx> Reply-To: metastock@xxxxxxxxxxxxx To: metastock@xxxxxxxxxxxxx Subject: Trailing Stop Date: Tue, 04 Apr 2000 17:20:36 EST I've been trying to improve my position trading by using a volatility indicator to exit long positions primarily to protect profits. I like the concept of a volatility stop as it is directly linked to the ranging activity of the security. A number of them have been discussed on this forum such as the Volatility Stop (Long) by Chande & Kroll, Trading The Trend by Andrew Abrahams, ATR Trailing Stop by Yngvi Hardarson and the Count Back Line by Daryl Guppy. I've attached a chart of a trade I exited today. Acting on the exit signal given by all the indicators yesterday I exited too late and gave up about 72% of available profit which is way too high a price for my liking. By using a lower multiplier of the ATR I would get a tighter stop but often it can take you out of a trade prematurely. Had I based my exit on the trendline I would have exited yesterday. I know it's difficult to counter a gap move down like this one but can anyone suggest a better method which will keep a good portion of profits yet not exit trades too early. regards Ian Burgoyne From: "j seed" <jseed_10@xxxxxxxxxxx> Reply-To: metastock@xxxxxxxxxxxxx To: metastock@xxxxxxxxxxxxx Subject: Re: Trailing Stop Date: Thu, 06 Apr 2000 12:47:46 GMT Ian, Consider Robert Krausz"s work and include some filters in your decision making process. A good example is the ECO (Ergodic Candlestick Oscillator by Wm. Blau); a double-smoothed ratio of the difference between the closing and opening prices and the difference between the high and low. Now about the codes for the indicators you have used...where can we find them? J. From: "Ian Burgoyne" <iburgy@xxxxxxxxxxx> Reply-To: metastock@xxxxxxxxxxxxx To: metastock@xxxxxxxxxxxxx Subject: Re: Trailing Stop Date: Mon, 10 Apr 2000 17:21:04 EST Thanks for the tip. I'll post the codes I've used a bit later on today. The ECO oscillator you mentioned - can you provide the MS code for it? Ian Re: Trailing Stop · To: metastock@xxxxxxxxxxxxx · Subject: Re: Trailing Stop · From: "j seed" <jseed_10@xxxxxxxxxxx> · Date: Mon, 10 Apr 2000 21:06:43 GMT · Reply-To: metastock@xxxxxxxxxxxxx · Sender: owner-metastock@xxxxxxxxxxxxx Ian, The Krauz article I read described the ECO as "a double smoothed ratio of the difference between the close(C) and open(O) of each bar and the difference between the high(H) and low(L) prices for each bar:" FWI my interpretation is: |
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ECO - Ergodic Candlestick Oscillator (Mov(Mov(C-O,5,E),26,E)/Mov(Mov(H-L,5,E),26,E))*100 |
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