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I agree. Setting stops depends on how a trader trades, testing, price action, and whatever plan the trader is using. My stop loss may not work for another person trading plan.

Great work. I like to use trendlines so I have idea of targets rather then entries.

Hello, I hope make sense in my question. Forgive my non programming skills of yet. 1. Is it possible to use Excel (with a DDE link from my charting app) to track the exponential moving averages every 10 ticks of price movements. 2. For tracking EMAs in Excel does the computer and charting...

Hello Here4money, There is a few approaches to stop loss I think about. 1. When i think about stop loss, the first thing I think about is "what is a loss of money I am comfortable with losing compared to the amount of money I am comfortable winning" So for your trade, how much money are you...

Thank you InvBox

Thank you Thank you so much userque, I am looking into options of Excel and other platforms.

Trading Education Buyer, Thank you very very much. Your contribution, advice, and resources are well appreciated. Thanks for sharing.

Self sabotage can improve after losing money.

Hello, I disagree. If a trader can not make money "betting on past price behaviour", then what is trading all about? Why do people backtest ideas with historical data that can possibly make money? I am referring to day trading.

Hello, Good debate. I do not know how to time the market day-to-day or no way to predict if prices will go up or down. I don't think noone can time the market and state "it will go to price at this day or time". I believe traders think "I have seen this similar situation before and it made...

Thank you userque for help, Good information and good starting place. I agree with you, I just need practice building a strategy in Excel just to get my brain to thinking and build from a simple intraday Excel trading system and like you mention using free historical data. Afterwards, I can...

Thank you userque, I will give this some thought and planning and proceed. This is my first time building/planning a trading algorithm to back test using a software.

Thank you userque for response. Your recommendation is a good starting point. A few questions of Excel capabilities (I use excel, but not for programming) for what I am thinking and I can research on how to code it afterwards: 1. With the historical data and the support and resistance...

Thank you userque for response. I am sure I will need help sooner or later. But I like ET for the logical thinking and reasoning and debates. I am still in the early stages of writing down what I want to do test for when ready to code or have someone code. I am not a coder, atleast not yet.

Thank you userque for response. I calculate the levels (a certain price) at night and trade them the next day. Yes, I understand mentally this must be explained to a coder logically. I am going to try and code myself. I think Excel can calculate at this distance of retracement for me. I will...

Thank you userque for response. The support and resistance I use can be calculated daily. Your approach is a good idea with Excel if the levels can be calculated.

http://prntscr.com/di9901 Here is an example even though this example would have resulted in a loss as I wait for price to break the resistance and I enter limit order at some distance above the resistance. I am trying to decide the optimal retracement to enter limit order from data collection...

Hello, I have experienced this type of process as well that leads to a bad day and self regret: 1. I enter a trade late or out of fear of missing a trend or wrong entry. I enter unplanned cause I am tired of waiting for a setup per my rules/plan. 2. Once I enter, everything in my head is...

Hello, Currently, I been forward testing my trend intraday retracement trading strategy for about a 4 months now. I have been learning/reading/brainstorming to program this system in my spare time for backtesting which will decrease my testing time and allow me to view results efficiently. I...

Thank you