does anyone have a script that calculates your lot size based on your account balance and risk%, then place PO, TP and SL...
Thanks!
, will upload this weekend the latest upgrade.
I don't say
- #1,721
- Nov 25, 2011 4:00pm Nov 25, 2011 4:00pm
, will upload this weekend the latest upgrade.
- #1,728
- Nov 26, 2011 2:20am Nov 26, 2011 2:20am
Something to think about and some homework
While you wait patiently for Peter to do all the hard work, look at the backtest file he has posted.
Look at the month of October...
Total 20 pips winners on EU = 58
Let us round it of to 50 winners.
You have the date and the entry times and can look at the trade history on the charts.
You can see and calculate how many of the 50+ winners ran past 20 pips.
If you split your trade in 2 parts with TP1 20 and TP2 24 pips , how many times will it hit TP2(and more) ?
Does it increase your risk?
If you have TP1 20 TP2 25 TP3 30 pips will you gain extra pips with same risk?
With all the fancy trade management tools available, it is easy to set up.
This not part of the official rules .
2 pips/trade extra on average is another +100 pips in your pocket for the month
Just something to think about.
Trade smart.. not hard
My stupid mind then starts asking me questions, like what if you hit TP1 and some of your position is scaled out and the trade goes back to B/E or better? Think of those lost pips you numb nut!
I then went back and re read trading in the zone and my latest tough read reading price charts bar by bar by Al Brooks and these guys advocate a similar approach backed by the fact that the odds are that some trades will likely go on for more than your target and since we are scalping, it really does make sense to have something to take advantage of a few extra pips since we would be protected anyway by the B/E stop.
This is not part of the system and i don't trade it it to a T, so apologies if this interferes with your thread Peter. I had to pop on after Gleneagles posted his thoughts and analysis to affirm that the space between my ears is not so empty after all :nerd:
Thanks for your insight Gleaneagles
Simplicity is the ultimate in sophistication ~ Leonardo Da Vinci
Peter & crew, I was just looking at some of the indicator code, intending to translate it to TradeStation. (I know that platform better and I trust it to not play repainting games &etc.)
In SuperTrend I noticed a potential problem: when you're on bar i and notice a trend change, it changes the indicator value for bar i+1. Meaning it "changes its mind" and changes a value that had already been plotted:
[code]//-- Draw the indicator
if (trend[i]==1) {
TrendUp[i]=dn[i];
if (changeOfTrend == 1) {
TrendUp[i+1] = TrendDown[i+1];...
The indicators posted in the zip file from the first post "Do not repaint! " the last bar . Issue was fixed as the old indyes were able to repaint 1 bar back.
There will be a new update with indies for the system , that will consume less cpu power and memory . Indy`s are already done and tested, will be uploaded later today ore tomorrow by Peter . The new candles indy incorporates the super trend indy so less loops
.P.S. That is not the indy that draws the candles by the way , and that is the way that indy makes it`s calculations, nevertheless, the candles are drawn using those calculations but can only be drawn on current bar, so even if the supertrend indi repaints, the candles don`t as once it is printed, cannot be reprinted. Hope that helps.
- #1,739
- Nov 26, 2011 10:24am Nov 26, 2011 10:24am
- | Joined Nov 2011 | Status: Trader | 1,042 Posts
Money is important, Love is essential.