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ck,
What part of "free" is unbelieveably expensive?
Preston
--- In equismetastock@xxxxxxxxxxxxxxx, ck <ck_hongkong@xxxx> wrote:
> but it's NOT free.
> it's unbelieveably expensive.
>
>
> --- amernick <amernick@xxxx> wrote:
> > Richard,
> > Thank you for posting your Advanced trailing stop plugin.
> > The Metastock community really appreciates it!
> >
> > --- In equismetastock@xxxxxxxxxxxxxxx, "Richard Dale"
<richard@xxxx>
> > wrote:
> > > As promised a while back to several people, I've put together a
> > advanced trailing stop system...
> > >
> > > For those who don't know what a trailing stop looks like,
here's a
> > chart as an attachment.
> > >
> > > Here's a cut-and-paste of my introduction to the Advanced
Trailing
> > Stop.
> > > INTRODUCTION
> > > The Advanced Trailing Stop, based on the Chandelier Exit
developed
> > by Chuck Le Beau, is volatility-based. Using the Metastock
> > Developer's
> > Kit, I developed a I developed a Metastock DLL because the
Metastock
> > Formula Language lacked a simple way of referencing prices from
the
> > entry day of the trade. If you just want to download the DLL,
scroll
> > to the bottom of this page.
> > >
> > > Many traders set stops according to a fixed % movement. However,
> > the
> > % method needs to be adjusted according to the volatility of the
> > security being traded. Using a volatility based stop means that
your
> > stop automatically takes account of the security's volatility.
> > >
> > > For example, if the security has a high volatility, your stops
will
> >
> > be a reasonable distance away from the price action (to give the
> > security room to move in its normal intraday movements). If a
> > security
> > has a low volatility then the stop will be relatively closer to
the
> > price action. If the security's volatility changes whilst a trade
is
> > underway, the stops will adjust according to this volatility. The
> > advantage to this type of stop is that it can be used in any
market
> > (blue chip stocks, speculative stocks, futures, index trading,
mutual
> >
> > funds etc.)
> > >
> > > The Advanced Trailing Stop has the following components:
> > >
> > > a.. Initial Stop, expressed in terms to the entry day (eg.
> > Closing
> > price less 2 ATRs)
> > > b.. Trailing Profit stop, calculated on each bar of the day
after
> >
> > entry (eg. High less 3.5 ATRs)
> > > Optionally, you can also incorporate the following types of
stops:
> > >
> > > a.. Breakeven stop - this is calculated on the entry day and
is
> > implemented when the stock passes a "transition point". (eg. Move
my
> > initial stop to a breakeven stop when the price closes 2 ATRs
above
> > my
> > entry price). I believe this transition/breakeven stop was part of
> > the
> > original Turtles trading technique.
> > > b.. Pyramid Points/Tightening Stops - the Trailing Profit Stop
> > can
> > be recalculated when the stock passes further transition points.
I
> > have defined two such points. (eg. When the stock moves more than
4
> > ATRs above my entry price, change to a trailing profit stop that
is
> > the High less 3 ATRs. If it reaches 6 ATRs above my entry price,
> > change to a trailing profit stop that is the high less 2.5 ATRs).
> > Chuck Le Beau talks about this tightening of the stops in his
> > original
> > newsletter.
> > > If any of your stops are hit, the Stop Loss line will continue
to
> > be
> > drawn across the screen. This is good for your psychologically if
you
> >
> > can't get out of a trade. It'll keep telling you to get out! The
> > line
> > will not trail the price any further (it will be flat) just to
> > re-emphasise that you should be out of the trade.
> > >
> > > --------------------
> > >
> > > More of details at:
> > > http://www.TraderNexus.com/
> > >
> > > It's suitable for Metastock v7 and v8 and it's FREE!
> > >
> > > I hope this plugin helps you in your trading. Comments welcome
and
> >
> > appreciated.
> > >
> > > Cheers,
> > > Richard.
> > > Norgate Investor Services
> > > - Premium Quality Stock and Futures Data for
> > > Australian, Asian, European & US Markets -
> > > www.premiumdata.net
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