As of 09/06/2024
Indus: 40,345 -410.34 -1.0%
Trans: 15,427 -190.44 -1.2%
Utils: 1,029 -7.87 -0.8%
Nasdaq: 16,691 -436.83 -2.6%
S&P 500: 5,408 -94.99 -1.7%
|
YTD
+7.0%
-3.0%
+16.7%
+11.2%
+13.4%
|
42,000 or 39,500 by 09/15/2024
16,200 or 15,300 by 09/15/2024
1,100 or 1,000 by 09/15/2024
18,400 or 16,650 by 09/15/2024
5,750 or 5,375 by 09/15/2024
|
As of 09/06/2024
Indus: 40,345 -410.34 -1.0%
Trans: 15,427 -190.44 -1.2%
Utils: 1,029 -7.87 -0.8%
Nasdaq: 16,691 -436.83 -2.6%
S&P 500: 5,408 -94.99 -1.7%
|
YTD
+7.0%
-3.0%
+16.7%
+11.2%
+13.4%
| |
42,000 or 39,500 by 09/15/2024
16,200 or 15,300 by 09/15/2024
1,100 or 1,000 by 09/15/2024
18,400 or 16,650 by 09/15/2024
5,750 or 5,375 by 09/15/2024
| ||
Released 2/19/2020.
Below is a slider tutorial for adjusting the location of stop loss orders. Captions appear below the pictures in red for guidance, so be sure to scroll down far enough to read them.
Below are the statistics from the tests, in case you're interested.
When price rises halfway to the target, should you raise the stop to breakeven? No. Why? Because the statistics suggest you'll hurt performance.
To test this, I used 463 stocks and found 2,333 double bottoms (found manually over the decades). I excluded patterns if the breakout date was in a bear market.
The following table shows the performance statistics for the benchmark using a stop located a penny below the lowest valley in the pattern with a target of the height of the double bottom added to the top of the pattern (the measure rule target). I compare the benchmark to tests showing the result of raising the stop to breakeven (the "Breakeven Stop" column), and raising the stop halfway up the pattern ("Stop Raised Halfway" column).
Description | Benchmark | Breakeven Stop | Result | Stop Raised Halfway | Result |
Winning trades: | 1,727 | 1,042 | Worse | 1,564 | Worse |
Average profit from winners: | 11.84% | 11.98% | Better | 11.98% | Better |
Profit per share: | $4.54 | $4.86 | Better | $4.61 | Better |
Losing trades: | 582 | 1,270 | Worse | 752 | Worse |
Average loss from losers: | 11.07% | 3.05% | Better | 7.82% | Better |
Loss per share: | $4.75 | $1.33 | Better | $3.36 | Better |
Net profit per share: | $2.17 | $1.45 | Worse | $2.01 | Worse |
Total net profit: | $5,071 | $3,372 | Worse | $4,688 | Worse |
Win/loss ratio: | 74% | 45% | Worse | 67% | Worse |
5% failures: | 17.7% | 15.6% | Better | 17.6% | Even |
Hold time (days): | 56 | 36 | Better | 48 | Better |
Best | Worst | Worse |
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