StockFetcher Forums · General Discussion · Trade Management Questions<< >>Post Follow-up
Dan-o
19 posts
msg #50907
Ignore Dan-o
4/6/2007 8:54:15 PM

Hello Fellow Fetchers,

I am in the process of developing an automated trading system which will trade stocks that I feel will be good long candidates for the next trading day. The system will (hopefully) hold for one day only and will have positions either stopped out with a stop-loss / trailing stop or sold at the market with a time stop. I would appreciate any input about trade management parameters, i.e., stop-loss, gain levels, and trailing stops that you may have. If anyone trades a similar system, or does it manually, what would you recommend? Global parameters for the entire system or customize according to stocks' s/r level, volatility, range, etc. Right now, I'm leaning towards global parameters, it would just be easier for me to implement. System will operate like this:

1. I determine long candidates
2. If long candidate increases 1% higher than opening price and open is 1% higher than previous close, buy when stock is 1.25% greater than open.
3. If long position is opened, set stop loss at (entry price)-(.50%*entry price).
4. If gain level of +1% on trade is achieved, set trailing stop of (day high) - (.50*day high).
5. Kick positions at 3:30 if still open.

I like simplicity. My screen is fairly simple and generates high probability set-ups. The stocks don't all move, but my long candidates usually don't head lower, so that will keep me out of dud trades. I'm not looking for filters, I can put together filters pretty easily. I'm just looking for input from Trading Warriors! Thanks for your help!

Dan-o

"' I dial it in and tune the station
They talk about the U.S. inflation
I understand just a little
No comprende, it's a riddle

I'm on a Mexican radio...'" ---Wall of Voodoo



TheRumpledOne
6,358 posts
msg #50925
Ignore TheRumpledOne
4/7/2007 10:29:11 PM

Look at my GAP STATISTICS Filter.

If you want an automated system, it's tough to beat.



gruender
101 posts
msg #50936
Ignore gruender
4/8/2007 8:01:38 PM

Hi TRO,

Is GAP STATISTICS at Kreslik or TradeStation?

Thanks, Joe

TheRumpledOne
6,358 posts
msg #50938
Ignore TheRumpledOne
modified
4/9/2007 8:09:55 AM

LOL... GAP STATISTICS is a FILTER right here at SF!!

You can write an automated strategy to take advantage of these stocks. Or just enter the orders manually.



StockFetcher Forums · General Discussion · Trade Management Questions<< >>Post Follow-up

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