CodeForTraders

...writing great code so you don't have to

Scale-Out Exits

Package: 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

3 pre-written strategies (full source code), implementing up to 6 legs of scaling out on either the profit side or the loss side. 

These strategies works with both stocks and futures, on both daily and intraday charts, with TradeStation® 8.

What It Looks Like

Here's a picture of the the profit and loss targets in action, applied to the ES:

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Notice the long profit exits ("lp"), short loss exits ("sl"), and short profit exits ("sp") working for you to take profits and limit losses.

What You Get

The 3 strategies are:

  1. #P_ScaleOut_Pft_01 - 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 an amount beyond a specified 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.  Instructions are provided in case you might want to modify the strategy for additional increments.

    This strategy also offers a single fixed stop-loss for the position, a single
    break-even stop-loss for the position, and an End-of-Day exit.
     
  2. #P_ScaleOut_Loss_01 - 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 an amount beyond a specified stop-loss base. Thus, moving the stop-loss 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. 
     
  3. #P_ScaleOut_PftGr_01 - Takes off contracts/shares using pre-defined Profit Target group schemes.

    The number of shares/contracts to take off at each at each profit target is specified via a numeric input 'TakeOffScheme'.  The various take off schemes are defined internally in the code, and referenced by number.  This allows for you to accumulate a small (or large) set of specific take-off schemes across which you can easily optimize for any given entry strategy or market.

    The scheme definitions are very straightforward, and you will have no difficulty understanding them and defining additional or alternative schemes as desired.

    The 'StocksOrFutures' input provides a convenient way to multiply your all your take-off sizes by 100 (for stocks) without having to redefine your take-off schemes in the code.

    Suggested use of this strategy:

    1. Define specific take-off schemes per your trading psychology.
    2. Define take-off schemes that you have found to be useful via optimization of the related strategy #P_ScaleOut_Pft_01, which offers all 6 take-off sizes as inputs.
     

And, of course, you get  Customer Support to help answer any questions you have or guide you in any modifications you might wish to make.

What It Costs

Only $200 saves you all the time it would take to do the research, coding and testing required to create these 3 strategies yourself.

Classic Scale-Out Exits for TradeStation -   $200  

 

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.