If the first input is set to 1 then all the subsequent inputs apply to a single share or contract, and in the defaults it tells TradeStation to exit trades when either $5 per share in profit or $1 per share in loss is reached. Highlight C shows the inputs for this strategy. This strategy issues sell and cover orders to exit trades.
We’ll start out by adding the _Stops & Targets strategy to our chart. You can sort on these columns to help in your search. The columns indicate the type of strategy element: buy for a long entry, sell for a long exit, short for a short entry, and cover for a short exit. Every line in this window represents a different strategy element, either an entry strategy or an exit strategy, for either longs or shorts. This opens the Insert Strategies window, shown in B. To begin the process insert a strategy as highlighted in A above. Adding Automated Trading Strategy Elements In this case we’re using a daily chart of Apple Computer stock (AAPL) for our testing. This image shows how to add the strategy elements to a chart. In this article we’ll show you how to put together a simple system using these Tradestation tools.Īdding Automated Trading Strategy Elements If you use TradeStation you can create a custom strategy using a slew of built in strategies and trading indicators that you can mix and match. You don’t have to be a programmer to build your own automated trading strategy.
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