Easing Into EasyLanguage: Day Trading Edition

This surprise installment (I had only planned on 3 books) of the Easing into EasyLanguage series will focus on entering and exiting on the same day; also known as day trading. The topics covered in this book should apply to any volatile market where selling short is as easy as buying. The book will focus on volatile stocks, mini and micro versions of the S&P 500, Nasdaq 100, Russell 2000, and Dow Jones. This book concerns itself with teaching the proper programming techniques to help the reader take their own trading ideas and transforming them accurately into EasyLanguage. The universe of day trading algorithms is rather large, but the core entry and exit techniques can be distilled down into just a few examples. ORBO - open range break out - a technique made famous by John Hill, Larry Williams, and Toby Crabel. Zone Trading - monitoring market movement as it moves through pre-defined zones (think Camarilla) and then making trading decisions on the market's journey. TBO - time based break out - things like the break-out of the first 30-minute bar or trading the break-out after lunch. BO and FBO - break out and failed break out technology will be used to try and capture the volatile moves that occur frequently. Indicator based entry and exit - RSI, Stochastic and others. Pattern recognition prior to day of trade execution - think Day Type (Buy or Short) Day Trade Management - remember its the exit that determines success of failure Protective Stops. Fixed $ amounts. Dynamic volatility-based amounts. Built-in and user coded functionality. Profit Objectives. Fixed $ objective. Dynamic volatility-based profit amounts. Built-in and user coded functionality. Trailing Stop with Ratcheting. Chandelier type trailing stop. Break Even Stops. Provide market more room to trade while locking into a free trade. Pyramiding and Scaling Out Add on to existing positions in direction of initial trade or at better prices. Pyramid up to three or more positions. Scale out of portion of position at profit or loss levels. Scale out to make initial trade a free trade. All code should be compatible with Multi-Charts as we will not lean on OOEL. Several tutorials will be presented and will manifest into complete trading algorithms. There are a total of nine chapter with over 100 illustrations.