Package: Visual Scale-Out Exits
Scaling out of a position is a powerful technique -
one endorsed and used by many (dare I say most?)
successful professional traders. This package
offers strategies for flexible, convenient
scaling-out on both the profit side and the loss
side. If you haven't investigated the
improvement that prudent scaling-out can made in
your trading bottom line, you don't know what you're
missing (or losing)!
What It Is
Two
strategies and two cooperating indicators, implementing up to 6 legs of
scaling out on either the profit side or the loss
side, with full visualization of your chosen levels,
historically and in realtime.
These strategies works with stocks, futures
and forex, on both daily and intraday
charts, with TradeStation® 8.2 3896 or later.
What It Looks Like
Here's a picture of the the profit ScaleOuts in
action, applied to the E-mini Russell 2000:
Notice the long profit exits ("lp"), and the
BreakEven exits ("BE") working
for you to take profits and limit losses.
What You Get
The
2 strategies are:
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#P_ScaleOutPft_03 - Takes off contracts/shares
per specified profit targets.
The number of shares/contracts to take off at each
at each loss target is specified via a
corresponding input.
Individual targets are set as incremental amounts beyond a
movable profit target base. Thus, moving the
profit target base conveniently moves the whole
set of targets - simplifying backtesting and
optimization.
This strategy is coded to perform take-offs in up
to 6 increments. Each increment is expressed
as an amount beyond the previous increment (in
chart points). This means that the distance
to every level can be conveniently optimized
without any "crossed" or nonsensical combinations
being produced. Thus, you will be able to
investigate desirable ScaleOut settings on the
profit side for your chosen market(s) and entry
styles using all the power of TradeStation's
built-in optimizer.
Not one, but two separate "BreakEven" exits are
provided, each adjustable with it's own offset
from the EntryPrice so that they take place at a
profit or loss amount of your choice.
This strategy also offers a single fixed stop-loss
for the position and an
End-of-Day exit. It is truly a comprehensive exit
solution, which can be used alone or combined with
other exits of your choosing.
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#P_ScaleOutLoss_03 - Takes off contracts/shares
per specified stop-loss targets.
The number of shares/contracts to take off at each
at each loss target is specified via a
corresponding input.
Individual targets are set as incremental amounts beyond a
movable profit target base. Thus, moving the
profit target base conveniently moves the whole
set of targets - simplifying backtesting and
optimization.
This strategy is coded to perform take-offs in up
to 6 increments. Each increment is expressed
as an amount beyond the previous increment (in
chart points). This means that the distance
to every level can be conveniently optimized
without any "crossed" or nonsensical combinations
being produced. Thus, you will be able to
investigate desirable ScaleOut settings on the
loss side for your chosen market(s) and entry
styles using all the power of TradeStation's
built-in optimizer.
This strategy also offers a single fixed profit
target for the position and an
End-of-Day exit. So, with this strategy you
put on your full size at the start of the trade
and either ride that full size to profit or else
peel it off in quick stages to ride much less than
full size to a loss, possibly still having some
size on to work in your favor if a turn-around
takes place.
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The
2 indicators have the same names as the strategies:
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#P_ScaleOutPft_03 - provides the visualization for
the strategy of the same name. Visualization
includes (up to 6) profit levels, a stop-loss
level, and two breakeven (with offset) levels. |
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#P_ScaleOutLoss_03 - provides the visualization
for the strategy of the same name.Visualization
includes (up to 6) profit levels, and a target
level. |
A
further point to keep in mind is that the two
strategies can be used (and even optimized)
together! This creates comprehensive "position
management" operating on both the profit side and
the loss side of your trade.
Sophisticated exit management is one of the key
techniques used by most most market winners.
Shouldn't that group include you?
What It Costs
Only
$250 gets you the password protected
(non-source-code) version of ScaleOut Exits, saving
you the tremendous amount of study, coding and testing
that would be required to create
these strategies and indicators yourself.
For
those intent on EasyLanguage mastery, or who have
the need to use the source code as a framework for
even more elaborate exit schemes, the fully-open
source code version is available for $500.
Purchasers of the protected version will be given
full credit for that purchase if they elect to
advance to the source code version at a later date.
The
protected version is available at deep discount via
CodeForTraders Club Pricing Plan.
How You Get It
This package will be emailed
to you after your PayPal payment is processed.
Please be aware of the
caveats
before you order.
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