Hi,

I use Metastock 10.1 and I am going month to month with Mohindars RMO trying to decide if I really need it enough to pull out the bucks for a year'subscription. The standard Templates and screens that came with the software give essentially the same information but I like the presentation of the plug in data and it is a little more helpful with volume. I can of course just look at the volume in relation to a 50 days or so EMA and make a judgment of that. I just kind of like having the confirmation.

That said, I think the plug in might be quite useful in timing day trade entry and exits points. I am not a day trader but it can add up to a lot of money as to whether a trade has odds of hitting a good price when executed during the day of the transaction.

I think the Swing Trade module template might give good information in this regard, but I really need some help from someone who has trod here before.

I am knowledgeable as regards the rules that Mohindar lays down for Swing Trading using this model but I have no idea as to what time frame might be good. Of course I can use anything from Tics to an hourly or more chart (with the inherent delay in my RT data which I can always double check in real time to make sure a disaster has not struck in the last 15 minutes).

Does any of  the group try to time mid day entry and exits using the RMO and if so how do you go about it?? Or is there another approach that might be effective?

As always, any and all help much appreciated.

Bill Saxon

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Bill

vondell:

I am knowledgeable as regards the rules that Mohindar lays down for Swing Trading using this model but I have no idea as to what time frame might be good. Of course I can use anything from Tics to an hourly or more chart (with the inherent delay in my RT data which I can always double check in real time to make sure a disaster has not struck in the last 15 minutes).

Does any of  the group try to time mid day entry and exits using the RMO and if so how do you go about it?? Or is there another approach that might be effective?

Hi Bill,

I was hoping one or two of the RMO users from around here would pitch in on this one.  As the RMO was supposed to have taken "the trading world by storm", I would have expected some more users to have their input!  I don't use the RMO myself, but I do know of a couple of traders who have this in their trading system arsenal; most of them are EOD traders, but some make intraday trades based on their EOD signals.  The few who are "genuine" intraday traders have real time data feeds so don't have to check the existence of "meltdowns" during the time-delay period.  I cannot say how often they use the RMO or how successful they are when they use, they just have it or access to it.

There is no right answer as to the "best" timeframe to trade, just as their is no wrong answer; trade whatever timeframe suits you, your risk and your ability to trade and monitor the markets.  If you have unlimited time to sit and watch ticks streaming in then you can rapidly trade these signals; if you can only get to the computer once per hour, then trade 60 min bars etc.


Hope this helps.

wabbit

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"The question of whether a computer can think is no more interesting than the question of whether a submarine can swim."
Edsgar W. Dijkstra

 

MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC C, 11 PRO w/QC & MDK
For custom MetaStock programming : http://www.wabbit.com.au
My SkyPE status :
My SkyPE account : wabbit.com.au

Thanks, Wabbit

You are a very knowledgable fellow and I appreciate the help.  Your advice was most helpfull.  Has anyone "broke the code" for the RMO templates?  Or is that an improper question? 

Might I ask one more question?  Is there a way to have a line on the Chart that would represent a 5% Trailing Stop??

Thanks again, Bill

 

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Bill

Search the forum as there has been a lot of RMO discussions (mainly the "old" version that came with MS10).

Search the forum as there has been a lot written about trtailing stops, in the EST and as indicators.


wabbit

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"The question of whether a computer can think is no more interesting than the question of whether a submarine can swim."
Edsgar W. Dijkstra

 

MS: 6.52 EOD, 7.x EOD, 8.0 PRO, 9.2 PRO w/QC, 10 PRO w/QC C, 11 PRO w/QC & MDK
For custom MetaStock programming : http://www.wabbit.com.au
My SkyPE status :
My SkyPE account : wabbit.com.au