Good resource for easylanguage coding in strategies (trailing stops/ b/e etc.)
Ok - have a strat that i ran on the S&P 500 going back as far as i can (2000) in MC portfolio backtesting. I know its not much to brag about, but it hits a 2% target before a 5% stop 75% of the time and is profitable even on that simple basis accross 5500 trades.
My own logic tells me that I should be able to improve results with more sophisticated money management, but my coding that stuff (trailing stops, moving stops to b/e, etc.) is just plain BAD. My prior attempts have led to strategies that are just ugly and probably did not work correctly.
Anyone have a resource they recommend? I used to be able to get really good easy language help in the tradestation forums, but the MC forums are just not as deep.
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I'm also considering to switch to Multicharts from NT, and have downloaded the trial version two days ago.
I think that the book "Tradestation Made Easy" by Sunny J Harris should be good, based on some reviews. I haven't found it as pdf though, and haven't read it myself yet.
There are quite a few threads here on the benefits & tradeoffs of MultiCharts vs. NinjaTrader so I won't repeat them here, but my .02 (for what it's worth):
Even if you're a programmer/IT architect by profession (I've been one for 25+ years, FWIW), if the goal is to spend more time TRADING vs. CODING the latest strategy, then MC7 may be a better choice. Indicator or strategy code in EasyLanguage tends to be a lot "easier" (i.e. shorter) to write & understand than slinging C# OO code, that while I'm capable of, distracts me from what I'm trying to learn which is TRADING.
Most strategies developed for NT7 can be (or have already been) ported to MC7; there are definitely a few gaps in the current MultiCharts platform compared to NinjaTrader (no OnMarketUpdate() method, EasyLanguage quirks like no "return" statement, etc.) but I've noticed that MultiCharts is not as resource-intensive compared to NinjaTrader (granted bad indicator/strategy code is still bad code regardless of platform).
I bought a copy of "Tradestation Made Easy" and would give it an 8/10 - nothing beats just sitting down and trying to just code whatever it is you're trying to do. PRACTICE PRACTICE PRACTICE - there is NO "easy road" (granted, not just in trading, but it definitely applies to trading ).
If you haven't tried NinjaTrader yet, it's definitely worth reviewing. I may ultimately buy a NT7 license at some point; I decided initially to buy a lifetime MultiCharts license after reviewing both for over a year and waiting for the quirks with the "7" version of each to be mostly worked out. Both platforms are great (and the code/userbase is considerably larger for NT), but I'm glad I went the route I did with MultiCharts (especially given how responsive the MC deveopment/sales team has been).
no. its a momentum trigger combined with bettervolume climax up for longs. it hits 2 % 82% of the time so I assume (correctly or incorrectly) that using correct trade management it will be successful. i am not trying to auto trade just use in discretionary swing trading.
I also am trying to do the same with simple three and four bar reversals.
Now that i can portfolio test I am finally attacking these things. What i am finding though is that I probably should just be using amibroker since it is seeming even faster than mc.
I am hesitant try to add another platform to my "portfolio" of platforms.