P-Stop
I had the newer version of that software and went to the DOS version. The Windows version did not allow me to change the Acceleration Factor, if I recall correctly, and it was not fast enough (the factor, that is).
I never used the programming language on it, and the older version I have is the "el cheapo" version without the advanced stuff. Primarily I box it with 8 and 34 tick MAs on 5, 15 and 45 minute tick charts. I look at the longer 2 tick charts before the open to size it up, and trade off the 5 minute during the day. When I have absolutely no "feel" for the pattern I use the convergence of the 2 MAs as a clue for probable volatility. Conversely, a (subjectively) wide divergence to me also suggests a likely interim return to the mean of the longer term MA.
Taking a position in one of these points, I usually look for a stairstep pattern in a specific direction, generally covering part of my position on the 3rd stairstep. If the motion continues in my favor I allow the P-Stop to control the ship via auto-pilot, so to speak.
I've found it to be a very powerful tool, but unlike many I do not use it for entry points. I run off a PowerMac and a Gateway. I bought the Gateway specifically so I could use software to crunch P-Stops. Using the P-Stop the first day on one trade preserved enough profit in a trade that the Gateway was paid for. I agree, I like it. I don't like to over-rely on one tool, but when all else fails I always look at this one. |
