optimal numbers for stop loss and profit target?

[CME_Trader]

I have found best trades take off in my desired direction quickly.

i look at a few bars right after entry . if it was going in my desired direction i will keep position open. otherwise i move my stop and make it break even .adding a breakeven scenario can turn an ordinary trading system into a good one .i think what we do after entry is much more important than entry point.
i have found many aspects of trading is just like dating & hunting girls .in both cases ,you should not waste lot of time to absorb her attention .she knows if she wants you or not even before you approach her .

 

[Wach80]

Backtesting with ninjatrader looks fairly easy , you just need to put parameters , im not sure what to use for those , btw whats the most important things to backtest for? so far i know

s/l and p/t (dunno what percentages to use here to *begin*)

exit and buy long positions

Indicators

volume + open interest (dunno what *bars ago* to use how to specify them)

what else can i include?

Tbh you need some sense about strategy and numbers in general to backtest , you have to begin from a base then expand from there.

 

[Wach80]

Does amibroker and ninjatrader use the same coding language? in that case i can copy the code from ninjatrader and add it to amibroker lol , amibroker is easier to use.

 

[radex78]

I don't use ninjatrader and still use mt4 platform so far, still felt comfortable use this platform and I see many broker use and offer metatrader than ninjatrader

 

[Dinosaur_Supervisor]

Yes, there are rules. Apart from the classical trend following rules (stop at the last low or last high), you can calculate the average volatility with the ATR, because small stops with higher volatility get you out of the trade for nothing but statistical chance.

 

[radex78]

Yes, there are rules. Apart from the classical trend following rules (stop at the last low or last high), you can calculate the average volatility with the ATR, because small stops with higher volatility get you out of the trade for nothing but statistical chance.

Yea I see ATR is one indicator that used among trader to calculated stop loss with use value or average movement on certain period of time, but there are certain trader use pivot point calculator

 

[CME_Trader]

Yea I see ATR is one indicator that used among trader to calculated stop loss with use value or average movement on certain period of time, but there are certain trader use pivot point calculator

i was never successful at using ATR as a measure for defining stop loss . because volatility increases & decreases . but i'd rather found "optimal" stop loss is by backtesting thousands of samples within different years ( at least 5 different years) . in that way you know optimum numbers .however winning trades go in profit direction within first couple of candles .so initial risk is in place only for initial stages of a trade . after that you should not carry any risk .
history repeats again & again and as you Amercian say : game is the same

 

[CME_Trader]

Yes, there are rules. Apart from the classical trend following rules (stop at the last low or last high), you can calculate the average volatility with the ATR, because small stops with higher volatility get you out of the trade for nothing but statistical chance.

are you kidding ? always price comes back to previous high / low and test those levels where novice traders have put their stops and goes through them for a few ticks . the zones that most of traders put their stops are like a magnet. it absorbs price and you 'll be stopped out !

 

[CME_Trader]

I don't use ninjatrader and still use mt4 platform so far, still felt comfortable use this platform and I see many broker use and offer metatrader than ninjatrader

MetaTrader is a Russian platform designed for low speed internet connections .mostly for FX. but connecting to CME data quotes via MT is impossible. even chart candles of FX counterparts in MT & NT have different shapes and a little difference in price (up to 2-4 ticks ) . i used both . MT & it's programming language is not even comparable to a robust trading platform like NinjaTrader

 

[radex78]

Yes most broker from rusia using mt4 platform, and all broker that me join in using mt4 platform and not use ninjatrader