mesayah
658 posts
msg #87469
- Ignore mesayah |
1/30/2010 2:36:39 AM
Hey Strat, I have seen TRO make reference to how this method doesn't backtest. Is that true?
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stratiG
147 posts
msg #87474
- Ignore stratiG |
1/30/2010 11:24:12 AM
mesayah
- Ignore mesayah 1/30/2010 2:36:39 AM
Hey Strat, I have seen TRO make reference to how this method doesn't backtest. Is that true?
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Sorry...I haven't tried to do an automated backtest.
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mesayah
658 posts
msg #87481
- Ignore mesayah |
1/30/2010 2:46:15 PM
A backtest would be beneficial. Are you ever concerned with a collapse of a stock? I mean puting so much of your eggs in one basket? Wouldn't an ETF be safer intraday?
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Kevin_in_GA
4,599 posts
msg #87482
- Ignore Kevin_in_GA
modified |
1/30/2010 3:18:10 PM
mesayah:
I think you missed one key component of this strategy - your stop loss is set at 0.20 above (or below) your entry. If the stock gaps down, you do not go short. You can only trade long, and only after it crosses the 0.10 ABOVE the open. Your stop is then set at 0.10 BELOW the open.
This is the component of this strategy that I like the most - you can let the stock run back to fade the gap, but it cannot cost you more than 0.20/share on the trade if you are wrong.
So what if the stock collapses on a given day - you have built-in protection if you trade the system as TRO developed it. If it gaps down and keeps going, you never entered a trade because it did not trigger the signal to do so.
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mesayah
658 posts
msg #87483
- Ignore mesayah |
1/30/2010 4:09:43 PM
i guess what i'm struggling with is do yo take little .50 cent winnings and hope you get a second chance or do you let it ride to fill the gap? and if you try to capture nickels and dimes, when do you? on how much of a pull back.
I admit, i can only understand things if they were put in a video format. I'm glad everyone gets this but my primitive Greek mind cannot handle sifting through 90 pages of a thread. i still have no idea how to read that filter and the columns. Somebody should make a 10 minute youtube video.
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mesayah
658 posts
msg #87484
- Ignore mesayah |
1/30/2010 4:16:26 PM
Can someone just post the code for this on trade station?
Email me @ Mesayah@yahoo.com. I'm willing to automate it if it's that simple.
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stratiG
147 posts
msg #87485
- Ignore stratiG
modified |
1/30/2010 5:16:31 PM
Malaka, That's what you need to trade this method(simple mind). Download NT and I'll send you the code.
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stratiG
147 posts
msg #87486
- Ignore stratiG |
1/30/2010 5:21:16 PM
A quote from TRO's toolbox:
"The technique is so simple that just several lessons (or a few pages of explanations) cover it all. Now what? Now the student has to practice, practice and practice again to understand what he had been taught. The teacher DOES know much more than the student, but his understanding can't be "passed", "transferred" or taught in any way -- not even by reading books."
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mesayah
658 posts
msg #87487
- Ignore mesayah |
1/30/2010 6:04:49 PM
I don't know what NT is. 50 years ago my grandparents were skinning a goat and defecating in a hole. I'm kind of a double idiot savant. If you can email it i'd love you.
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Kevin_in_GA
4,599 posts
msg #87488
- Ignore Kevin_in_GA |
1/30/2010 6:48:36 PM
NT = Ninja Trader.
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