Rank: Newbie
Groups: Registered, Registered Users, Subscribers
Joined: 8/13/2007(UTC)
Posts: 1
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Hi guys.
Iv recently bought metastock version 9 and I have a system in mind but no idea how to code it.
What im looking for is to BUY the next days open when a stock closes on an all time high.
Initial stop of 10% from the purchase price.
Trailing exit to sell on the next days open if it closes below the 200dma (of the closes).
Money management is 10% of initial capital. So for example, if we start with 100k, first parcel is 10k, second parcel is 9k, third parcel 8.1k.
So maximum loss is any case will be 1%.
Is this a better idea for position sizing you think compared to 10k fixed dollar size units?
Does it sound like a good system??
Any help here would be much appreciated.
Regards,
Nizar
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers
Joined: 4/1/2006(UTC)
Posts: 135
Location: Romania
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Hi Nizar,
Entrycode:=C>Ref(Highest(C),-1);
Exitcode:=Cross(Mov(C,200,E),C);
status:=BarsSince(Entrycode)<BarsSince(Exitcode);
status:= ExtFml( "Forum.Latch",Entrycode ,Exitcode ,0 ,0 );
If(status=1 AND Ref(status,-1)=0,1,If(status=0 AND Ref(status,-1)=1,2,0)) {this will plot 1 on Entry signal and 2 on Exit signal}
The code above does not include stop loss of 10% under entry price and i have replaced dema with a simple moving average...if u ask me, actually if one makes a test will see that it really does not matter if dema, ema, simple, tema, moing averages are used but everyone is free to complicate things as much as he/she likes.
10k fixed dollar units will always give less smaller returns with smaller drawdowns than 10% of availiable capital and thats all. the choice is yours
If its a good system or not u will see by testing it
Cheers,,
PP
www.draculasystems.com
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