You can experiment with the key numbers (only 2-3) to pick the levels you like it. For example, you can pick a small number in certain parameter to give you 5 point or a larger number for 8 point profit, but it is NOT a fixed point ATR unlike the regular ATR stop strategy, it trails the trades automatically and smoothly. Another feature is that there are two or three systems work together to trail stop for the possibly best result. If one fails to catch the reversal, the another one will catch that.
Again, thanks for explaining. In my desperience tailing stops are reperior to rixed stops. But I will give you a big tip: backtested stops beat the shit out of anything else theoretical or empirical or intuitive. Me? An expert? (I read your post before you edited it.) I am an exspurt pretender. And I don't automate. It is much more fun to second guess the system. Come on, DST, fess up. You are not a native English speaker, 'though you fake it real good. Where are you from? English is not my native language either.
Your professor Joe Doaks' stop strategy should be excellent as I follow the ET forum recently I can tell that you are a very successful expert in automation trading.
Ah yes, Doaks. He is an adjunct associate assistant visiting professor (untenured) of cybernetics and daytrading at the Collin County Community College Paris Texas agricultural extension service. Basically the service he provides is servicing fat rich old ladies who want to get richer trading futures. He tutors one on one, literally.
So you program your strategy and manually execute the trades? I see. I feel the same thing about automation and try to second guess the system. No, I am not a native English speaker, that is why I tried to edit my post a little better and make fewer errors.
Confession is good for the soul, if you have one. You are doing fine. But what advice can you offer the OP? He is an intensely serious and dedicated and likeable guy struggling to perfect strategies that suit his personality. Give him some advice based on your own experience. I am immensely proud of him that he is doggedly struggling to find his own way.
cybernetics professor? very interesting. I saw quite some people from non financial domain and pick up trading and became very successful. Thanks for the info.
Cybernetics need not be complicated. The term didn't even exist when I went to collich, which tells you how old I am. But one can devise a successful strategy based solely on the inverse of a thermostat. That is the secret of the Doaks ossicator. Doaks is good at optimozing deadbands because he is a Vietnam era hippie deadhead. "Why do you think they call it dope?" I can tell you that my best trading ideas coalesced from the fog of an alcoholic haze.
Honestly I don't think I am in a position to offer any advice. I am struggling in finding something that I can have consistent results. A robust and reliable strategy and a disciplined operator, that is the goal I am striving for at the moment. On the other hand, I believe you have a lot to offer along his progress.
You are too kind. The best advice anyone can give him here is to affirm that it is possible starting with an outsider's total lack of trading insight and somehow spin success out of thin air. And also give him examples of what is achievable as he finds his own unique way. Best of luck to you doing the same. A modest first step is to ignore the advice on anyone on ET. Don't make me conjure up a mental image for you of what we may look like. Private traders are all losers, nut scratchers and nose pickers.