Please comment on my exit system

J

jrlvnv

I've been wanting to post on my stop/exit system and would love the people hear to comment on it.

I only trade SPY. I basically buy when its down and I short when its up.

Once in a trade my stop is .20 cents. If trade goes in my favor .10 I move my stop .10. If trade goes .20 in my favor, I move stop to breakeven+ .01. If trade then goes .60 in my favor I move my stop to profit + .30. Once trade goes .65 in my favor I move it to profit .60 and trail it with a .10 trailing stop from there on out.

There it is. Would love comments from anyone that can add to it or just comment on it. Thanks to all that reply
 
that sounds pretty intuitive.

But really need to backtest to see if those parameters would work...

set these parameters as a function of current ATR of some length, e.g., ATR(13) and test against your intuitive set of parameters and see if any better/worse.

Good luck.
 
Thanks for your comment. I have NOT been blessed with a programming mind and have failed everytime at programming even a simple buy/sell set up.

My buys and sells I can explain very easily but I don't think it can be programmed. If I did use a program like tradestation. Can I go through a chart and say I want to buy this bar, this bar and this bar and sell this bar, this bar and this bar and then run a report giving my trailing stop method?
 
if one can articulate a trading idea, it can be programmed - 99% of the time..
(just my view after hacking a couple hundred thousand lines of code in 4 different languages.)

And most of the charting packages have a programming environment.

Evan with no charting package, as long as you have raw data and Excel ... :)
 
Quote from jrlvnv:

Once trade goes .65 in my favor I move it to profit .60 and trail it with a .10 trailing stop from there on out.
More...

Why such inconsistency? Setting stop to .05 but trailing with a .10?
 
Well nothing is set in stone but I used that ratio in stocks to lock in most of the gain but need a little room to let it run.

Seems like the SPY needs a little more room. I have allowed my stop to be .22, then move to .12

Today was a decent day. One loss for the .22 one breakeven and one gain of .79

Shorted @ 147.93 at 8:20 pst. covered at 147.14 at 10:06

Done for the day. Would love more feedback
 
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