Jim Dean![]() Elite ![]() ![]() ![]() Posts: 1059 Joined: 10/11/2012 Location: L'ville, GA ![]() | I agree with your evaluation, Steve ... well put, and hits the nail on the head. I *strongly* concur that hard-EXITS are important vs soft ones ... if the market turns against an extant trade, get out before it turns too ... or gets worse. There's one other consideration tho re hard Entries ... it's a nuance but sometimes might be an important one. I posed this as a question, but haven't heard back yet. The question is ... if we do a "hard entry" in the "middle" of an already-in-process trade, then how does that strategy's Trade Plan get applied, FOR that hard entry, both in simulation and in the Trade Processor? Two possibilities: 1. TradePlan acts like the trade started at it's theoretical point, not at the midpoint. 2. TradePlan is shifted to start at the hard-start "midpoint". Pros and cons here ... both re trading logic, and re difficulty to implement it in the TradeProc. Something to consider: Some Trade Plans (like for RTM strat's) are super-simple "get out after five days" ... for a plan like that, the hard-entry might occur on the last of those five days, and exit on the next bar. Good? Bad? hard to say ... but imho it's more likely to be a "noise" trade, not actually capturing most of the profit. Other Trade Plans, such as those used for Trendfollowing strat's, can be much more "robust", using rule of eighths, trailing profit with various cushions and thresholds, or any of an infinite number of custom TPlans once Elite Trader is active. Some of these, it might be smarter to "shift" it to use the #2 method. For others, maybe #1 is best ... but, again, my guess is that the #1 method will often result in very quick exits. Good? Bad? who knows? Ideally, we get an option for this. A user input that says a. Hard Entry with simulation Trade Plan b. Hard Entry with shifted Trade Plan For those of us who will be doing a lot of ET development, with a heavy focus on stops, that distinction is important. If you find out what the "plan about the Plans" is, please let us know. |