JumpOff
1
- Messages
- 702
- Likes
- 14
Do any of you use a platform that allows you to define a sloping trendline (preferably by using a drawing tool), and then program actions or even just alerts when the price touches it, gets within so many points of it, or passes through it?
I'm at my screen almost all day, and mostly make my own schedule - which works out pretty well for filling up the time while waiting for the setups I want and earning income at the same time. Occasionally, I have to do a few minutes of non-trading activity (a.k.a. work) on a client's schedule - not of my choosing. Also, sometimes I'm working on a programming task that gets pretty interesing, and I forget to look at the trading screen for a few minutes..
I patiently waited hours the other day for a nice entry point to develop, and then missed the best moment because I was in the middle of a phone call with a client, so after I got off the phone, I entered anyway, - and it worked out alright - but it required a bigger stop than I like because I didn't enter at the best time.. (and so far I can't talk, type, make sense, and trade and the same time! LOL)
I'm not ready to have an automatic system enter trades for me yet (ha! to do that you first have to be able to define what your entry criteria are!), but I would like to use the slope equation to submit a trailing stop to the broker automatically.
I'm not asking yet 'how to do this.' Right now I'd just like to know if the platform you are using has that feature built in, (or can be achieved through writing some script code that comes with the platform). Alternatively, I'd be interested in hearing if you have some other way of dealing automatically with non- horizontal trend lines. I"ve looked at moving averages, and can't quite see that they would fit what I am trying to do...
I should also add that at this point I'm still learning to read charts, paper trading and evaluating platforms for features like this..
Thanks in advance,
JO
I'm at my screen almost all day, and mostly make my own schedule - which works out pretty well for filling up the time while waiting for the setups I want and earning income at the same time. Occasionally, I have to do a few minutes of non-trading activity (a.k.a. work) on a client's schedule - not of my choosing. Also, sometimes I'm working on a programming task that gets pretty interesing, and I forget to look at the trading screen for a few minutes..
I patiently waited hours the other day for a nice entry point to develop, and then missed the best moment because I was in the middle of a phone call with a client, so after I got off the phone, I entered anyway, - and it worked out alright - but it required a bigger stop than I like because I didn't enter at the best time.. (and so far I can't talk, type, make sense, and trade and the same time! LOL)
I'm not ready to have an automatic system enter trades for me yet (ha! to do that you first have to be able to define what your entry criteria are!), but I would like to use the slope equation to submit a trailing stop to the broker automatically.
I'm not asking yet 'how to do this.' Right now I'd just like to know if the platform you are using has that feature built in, (or can be achieved through writing some script code that comes with the platform). Alternatively, I'd be interested in hearing if you have some other way of dealing automatically with non- horizontal trend lines. I"ve looked at moving averages, and can't quite see that they would fit what I am trying to do...
I should also add that at this point I'm still learning to read charts, paper trading and evaluating platforms for features like this..
Thanks in advance,
JO
