None - No stop will be used. TOP
By % of value - - the stop is calculated on the entry price +/- a percentage of the entry price. If you bought a stock at 100 and you have By % of value 10, then if the price goes back to 90 the system will go flat (i.e. 100-10% = 90). Click on the Trailing check box to make this stop be a trailing stop.TOP
By Ticks - you define how many ticks you will allow yourself to loose. For example, if you are long the S&P Futures (tick size is .10) and you have “By Ticks” = 20 then if the position looses 2 points then system will go flat (i.e. 20 x .1 = 2). Click on the Trailing check box to make this stop be a trailing stop. TOP
Average range of -
the program
calculates the average range of “n” periods ago and then multiplies “n”
periods by a percentage. Lets assume that the average range of the last
“n” periods is 10 and the percent is set to 90, the program will use the
number 10 and multiply it by 90% which gives you 9.
If you use the option “From entry point” the program will add or subtract
from the trade price the value 9 which will be your stop. For example, if
you buy at 100 your stop will be 100 - 9 = 91.
If you use the option “From high/low” then the program will use the high
or low of the bar from which the trade occurred. For example, if you
bought at 100 on a bar that had a low of 99 then the stop is 99 - 9 = 90.
If the option “Trailing” is selected then when a new bar opens this bar’s
low will be used as the stop as long as it has a higher low then the
previous bar. Using the previous example your stop was 90. If a new bar
opens and that low is 98, the new stop would be 98 - 9 = 89. TOP
Previous Hi/Low of - here the stop will be the hi or low of “n” periods ago. If you select “trailing” then as a new higher low or lower high of n periods ago are formed then the stop will move to that value. TOP
% of position to close - Set the percentage of the position that will close at the stop. Example, if you are long in 4 contracts, and set this option to 50 as the stop is hit only 2 contracts will be closed, the other 2 will continue open.
at the bar close - If this option is on as the stop is hit intrabar the position will not close, it will close on at the close of the bar.
Close all trades on the end of the day- the program will close all positions on the close of the last bar of the day (on intraday charts), if 'Reopen position on the next day’s open' is selected then the program will reopen the same position at the next day’s opening price. TOP
Do not show stop arrow on screen - the program displays a stop arrow on the screen to show where the stop is on the chart. If you select this option the arrow will not be shown. TOP
None - No profit protection is used in the system. TOP
By % of value -
the profit
protection is calculated using the entry price +/- a percentage of the
entry price. If you bought a stock at 100 and you have “By % of value” of
10, then if the price increases to 110 the system will go flat (i.e.
100+10%=110).
If you select the option 'Retracement from high profit' then when your
profit protection point is reached the system will wait for a retracement
of the same value to go flat. In the previous example your profit
protection point is 110. If the option 'Retracement from high profit' is
selected and the value is set to 10% then when price retraces 10% from
your profit protection point (i.e. 110) your system will go flat. In this
case, if prices fall to 109 the system will go flat (i.e. 110 – 10 * 10% =
109). If prices continue to increase without 1st touching the
retracement from high profit point then the retracement is automatically
recalculated using the new total profit. TOP
By Ticks - you define how many ticks you want to make. For example, if you are long the S&P Futures (tick size is .10) and you have “By Ticks” = 20 then if the position makes 2 points then system will go flat (i.e. 20 x .1 = 2). The same 'Retracement from high profit' can be used here as on the “By % of value”. TOP
Retracement from high
profit - Some more explanation
Suppose 22 ticks is your
target to start to check for a Retracement from high
profit
Suppose you get the 22 ticks profit.
Suppose you have Retracemnt from high profit box checked and the value 4%,
then 4% of retracement of the profit is 22*4% = 0.88
That means if you loose 0.88 of your 22 the program will go flat. That is
at 22 - 0.88 = 21.12
Suppose the market goes to the 22 and go in your favor never going against
you the 4%, let says it goes until you have 100 ticks profit, then at 100
ticks 4% will be 100*4% = 4, then if the market retrace and your profit
goes back to 100-4 = 96 then you go flat.
Note that if you put 0 (zero) on the % retrace the program will wait the
22 points, if the market goes in your favor it will not go flat, lets say
you get 25 ticks profit then the price moves against you by 0.00000001%
making the profit go from 25 to 24.99999999999, then you will go flat.
If you want the 22 just as a target, if profit is 22 then go flat, no
matter what, then DO NOT have the option box profit retracement checked.
Average range of -
the program
calculates the average range of “n” periods ago and then multiplies “n”
periods by a percentage. Lets assume that the average range of the last
“n” periods is 10 and the percent is set to 90, the program will use the
number 10 and multiply it by 90% which gives you 9.
If you use the option “From entry point” the program will add or subtract
from the trade price the value 9 which will be your profit protection. For
example, if you buy at 100 your profit protection will be 100 + 9 = 109.
If you use the option “From high/low” then the program will use the high
or low of the bar from which the trade occurred. For example, if you
bought at 100 on a bar that had a high of 105 then the profit protection
is 105 + 9 = 114. TOP
% of position to close - Set the percentage of the position that will close at the profit protection price. Example, if you are long in 4 contracts, and set this option to 50 as the profit protection price is hit only 2 contracts will be closed, the other 2 will continue open.
at the bar close - If this option is on as the stop is hit intrabar the position will not close, it will close on at the close of the bar.
Do not show profit protection arrow on screen - the program displays a profit protection arrow on the screen to show where the profit protection is on the chart. If you select this option the arrow will not be shown. TOP
In the
window above you can select the color you want for the bars and arrows
that will appear on screen when the system is in use.
The paint bar check boxes will cause the bars to be painted using the
color selected. For example, if the system happens to go long and the
going long color is green then the price bars will turn green and stay
green until the system reverses or goes flat.
Show Stop/Profit Arrow Values -
The value at
which the system traded at will show on the screen along with the position
arrows. TOP
Use the
security tab to password protect your system.
To have access to the system's parameters the user must have the password.
The 'System expires date' will make the system expire on a predetermined
date. TOP
Trading any market carries a high level of risk, and may not be suitable for
all investors. The high degree of leverage can work against you as well as
for you. Before deciding to invest you should carefully consider your
investment objectives, level of experience, and risk appetite. The
possibility exists that you could sustain a loss of some or all of your
initial investment and therefore you should not invest money that you cannot
afford to lose. You should be aware of all the risks associated with
trading, and seek advice from an independent financial advisor if you have
any doubts.
* The Views and opinions represented in the provided website links and resources are not controlled by the Referring Broker or the FCM. Further, the Referring Broker and the FCM are not responsible for their availability, content, or delivery of services.
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Fibonacci Trader. Last updated:
May 21, 2011
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