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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (1370)	6/24/1999 10:08:00 PM
From: Doug F	Read Replies (4) \| Respond to of 18137

Question to all on setting buy/sell orders... I'm a new user of MBTrader. Scenario: I just went long 100 shares of stock XXYZ. Is there any way I can set upside and downside limit sell orders simultaneously, and then if one is hit, have the other cancelled? This would allow me to EITHER take profits or stop a bleeder, and protect me from going short after making the first sale. Further, is there any system commercially available that will allow me to set a limit buy, followed by the limit sell scenario outlined above (contingent upon making the initial buy)? While I'm at it, what I really want for Christmas is a system that I can instruct to trade based on simple Boollean logic... 1. The Buy. If stock X hits 25 with right price direction/momentum and strong vol, then buy 100 shares; 2. The Sell. If/When stock hits either 24 or 26, sell those 100 shares. 3. The Buyback...if conditions XYZ are met, buy the stock back. I want the power to program in scenarios and have my trading software do the actual trades for me. This will give me a heck of alot more freetime, and it will mean that the trade gets done - sometimes I get emotional and don't stick to my gameplan. I know what I want to do - I get so frustrated having to sit in front of the screen, drone-like, actually carrying it all out. Am I dreaming? Or is there something like this out there? P.S. I'd also like to have a neural net program learn my trading style and, after a sufficient learning period, do it for me. But I'm guessing that's probably not widely available right now...

To: keith massey who wrote (1370)	6/25/1999 3:22:00 AM
From: Teresa Lo	Read Replies (1) \| Respond to of 18137

I only look at the S&P chart (currently SP9U), the actual contract volume of the S&P eMini, and the trend of the TRIN. I use Japanese candlesticks on the 1,5,15,45,135, Daily charts in these specific combinations because they divide up the trading day (405 minutes) of the S&P futures into a round number of bars with the same amount of minutes in each bar. On each chart I have the 20 period exponential moving average in red, and in grey, I have the approximation of the 20 EMA of the next time frame up from the present one. I also use a 14 period Average Directional Index on each time frame. I look at other things now and then, such as Dow Utilities, NYSE new highs/lows, T bonds, Gold, etc., but only on an end of day basis when I sit down to write my daily column but in general I don't watch it during the trading day. I don't watch the cash indices either. I figure there are many more minds brighter than mine who try to figure out all the correlations between everything I can possibly think of, but their actions are all over the S&P tape anyway, so I just trade the S&P chart in front of me and leave everything else to the others.