Pedro01
good posts, much better than the rubber biscuit one
very happy your making $$$$$$$$$$$$$$
OK - let me first say - THIS IS MY OWN WORK - if someone wants to claim breach of copyright on this - please prove it.
Take a look at the screen shot attached.
Put the indicator on a radar screen and sort by "Trend" - hey presto, all the stocks from your list that are trending and at high/low of the day as per Mr Charts method will be at the top.
I hope it helps. I find 3 min bars suit me the best.
Trend - no of bars trending (only displayed if high/low of day)
Risk - distance from prior bar high/low (your exit point as per the strategy)
ATR - errr... ATR
QTY - max number of shares you should trade based on the higher of the ATR or Risk cents. You need to tell it your account size & risk % for this to be accurate
Any issues - PM me or post here & I'll update it.
Next step of course is a program to handle the exits once you are in a trade. So - you could just hit a button when you get in & then just let TS handle the exist whilst you look for other opportunities.
Cheers
Pete
All
I found this method requires fast fingers if you have a few positions on at a time, so here's an ELD.
Idea is that you put this strategy on a chart window but disable it. When you are ready to buy, just enable the strategy and it will instantly buy as well as put a stop order at the low of the last bar.
Make sure you test, test, test & make any adjustments you need before running it on your live account please !!
Code:
[IntrabarOrderGeneration = True];
Inputs : QtyOverride(0), AccountSize(25000), RiskPercent(.25), MaxTradeValue(0) ; ;
Vars : intrabarpersist Done(false), intrabarpersist RiskCents(0), intrabarpersist NumShares(0);
if marketposition = 1 or GetPositionQuantity(GetSymbolName, GetAccountID) <> 0 then done = true;
if GetAppInfo( aiRealTimeCalc ) = 1 then begin
if done = false then begin
RiskCents = (Close - Low[1]) + .01;
NumShares = ((AccountSize / 100) * RiskPercent) / Highest(RiskCents,AvgTrueRange(14)) ;
if MaxTradeValue <> 0 then NumShares = minlist(NumShares,intportion(MaxTradeValue / Close));
if QtyOverride <> 0 then NumShares = QtyOverride;
buy NumShares contract next bar market ;
end;
if NumShares = 0 then NumShares = GetPositionQuantity(GetSymbolName, GetAccountID);
Sell NumShares contract next bar Low[1] Stop ;
end ;
Qty Override - number of shares to buy if you don't want the system to calculate
AccountSize -
RiskPercent - Risk per trade (%)
MaxTradeValue - max number of dollars to commit to a trade (total, not risk total)
Enjoy
I am very happy other traders find the free guidance given by Richard of real use
I have repp"d some of the mans posts (not just to book mark the thread, something I sometimes do) but because I thought they were good posts and advice
the post I made was made in the tone that many find unacceptable because imvho any queries on this thread were met with hostile, condescending and over aggressive answers by individuals who appeared to answer on his behalf
their tone was the tone a bully or thug would use to get their own way - Richard later appeared to endorse their answers with a repp"y point
not everyone gets it 123 - aA bB cC and questions are to be expected
aware Richard does an e-mail answer service but it does not really help thread continuality, just my opinion perhaps
anyways ...........
cut from my out of tune post ~
"you state your a full time trader for 10 yrs, you must be aware a half method is no method at all Richard
perhaps you could if you get some spare time post exact guidance to entry criterior without T&S
strongly trending 1-3 min tf is open to misinterpretation judging by some of the posted charts by others
your criterior for not entering
your definition of S & R nearby (reason given for no valid entry) ............. pdh & low or other S&R definition you consider ?
perhaps a 1-10 bullet list might help , the thread is 60 ish pages long"
bullet list was just a thought, no offence intended
have no problem with burst bubble kind of people - most great leaps forward are made in wartime
carry on
later (away for 2 days, expect to require a brand new bubble upon my return)
Andy
