This content is provided in support of the Safety in the Market (SITM) module for Your SOFTWARE and may not be applicable to your package. For more information, go to the Modules topic of this help.
There are two methods of creating a new ABC Trading Plan:
The first method is to select an ABC formation for a particular symbol, and directly create a new plan.
The alternative method is to display ABC formations on price charts, select one and then convert the selected ABC formation into a trading plan.
First click the Trading Plans command on the Tools menu to open the Trading Plans work page in the work area:
The Trading Plan work page containing a table will appear in the work area.
The table displays details of all of the currently saved Trading Plans, both Active and Completed.
From the Trading Plan work page's function bar, click the Add button to create a new Trading Plan.
The ABC Points Selection dialog box will appear:
Enter the symbol for the security to be traded, this will generate a table showing all ABC trading formations associated with that symbol.
Select Long, Short or Both Long and Short Trades to be included in the table.
Click on the ABC Settings button to open the ABC Points Settings dialog box. The calculations used to identify the ABC points can be tuned to refine the resulting list of ABC formations. Refer to the ABC Parameters topic for more information on all of these settings.
Click OK to produce a table containing all the ABC points formation for this symbol.
Select a formation to populate the Trading Plan with and click OK.
A Trading Plan Wizard will open, with its first tabbed page populated by the selected ABC formation's details, and other ABC trading levels calculated automatically.
Users can then go to the Entry Plan tabbed page to enter details about their trades.
An easier method is to identify, or draw, ABC formations on an open price chart, and then select a particular ABC price formation to be automatically converted into a Trading plan. There are three points at which this may be done: ABC Points Hi-Lite - Long or Short and the ABC Pressure Points drawing tool.
Be aware that the second method does not use automatically generated ABC point calculations, but is entirely user positioned. It should not be used to trade with.
The ABC Points -Long or Short chart Hi-Lite will automatically identify and tag ABC formations on any price chart.
Select any of these individual ABC formations and right mouse click to open the pop-up menu for each ABC formation.
Select Convert Formation to Trading Plan to create a Trading Plan based on the selected formation.
A Trading Plan Wizard will open, with its first tabbed page populated by the ABC points' details, and other ABC trading levels calculated automatically.
Users can then go to the Entry Plan tabbed page to enter details about their trades.
A similar pop-up menu is available for each ABC formation created using the ABC Pressure Points drawing tool.
However, this conversion tool should be used with caution because the ABC formations created using this tool are entirely user defined, and are not plotted based on ABC trading calculations.
A Trading Plan Wizard will open, with its first tabbed page populated by the user defined ABC points' details.
Warning Only trade using this conversion if you are satisfied that your placement of the ABC points with the drawing tool represents a legitimate ABC price formation