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<<Scottrade supports all but Mkt on Close, End of Week, End of Month.
Nor trailing stops, the thing I'd like to see added next. The others
are supported.>>
I looked at the demo Scottrade online trade entry screen. It allows
you to enter a Sell... Stop... GTC... order on an existing Long
position, or a Buy to Cover... Stop... GTC order on an existing Short
position. What the demo trade entry screen did not show was how to
specify a Stop Price at which to execute the order.
If a price specifier is available under the live trading system, then
that is all you would need to implement Stop Loss orders, and then
make them trailing by manually adjusting the Stop Price nightly or
periodically.
Hard to believe that Scottrade does not allow you to specify a Stop
Price in the order entry screen.
Phsst
--- In amibroker@xxxxxxxxxxxxxxx, "Richard Harper" <rdharper@xxxx> wrote:
> Phsst;
>
> Scottrade supports all but Mkt on Close, End of Week, End of Month.
Nor trailing stops, the thing I'd like to see added next. The others
are supported.
>
> Richard
> ----- Original Message -----
> From: Phsst <phsst@xxxx>
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Sunday, February 23, 2003 9:08 AM
> Subject: [amibroker] Re: cannot buy on open
>
>
> <<Would you mind sharing the name of the broker you use to place these
> orders?
> I do not think I can do this with my current broker, Scottrade.>>
>
> Almost all brokers support the orders I use... Datek, RJT, ETrade,
> AmeriTrade, etc. The Order parameters from Ameritrade include:
>
> Position - Buy, Sell, Sell Short, Cover
> Terms - Market, Limit, Stop, Stop Limit
> Good For - Day, GTC, Mkt on Close, End of Week, End of Month,
> Good ThroughDate
> Special - All or None, Do not Reduce, Fill or Kill,
>
> I rarely trade during the day, preferring to make my trading decisions
> using EOD data and placing those orders online that night for next day
> automatic execution.
>
> Each night I review all open positions and manually place (or adjust)
> trailing stop loss orders using 'Sell' / 'Stop' orders. I use GTC
> orders for stop loss purposes so that if I happen to be away for a day
> or more, then I have absolute protection even though I may not have
> 'tweaked' the trailing limit price.
>
> Nothing fancy.
>
> But I want my backtesting software to be able to simulate all of the
> available EOD Order stradegies from within code or AFL without having
> to change parameter settings from a Settings window every time I want
> to test a new combination.
>
> Phsst
>
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Rik Rasmussen"
<hrasmussen@xxxx> wrote:
> > Phsst,
> >
> > Would you mind sharing the name of the broker you use to place these
> orders?
> > I do not think I can do this with my current broker, Scottrade.
> >
> > Rik Rasmussen
> >
> >
> > > -----Original Message-----
> > > From: Phsst <phsst@xxxx> [mailto:phsst@x...]
> > > Sent: Sunday, February 23, 2003 12:00 AM
> > > To: amibroker@xxxxxxxxxxxxxxx
> > > Subject: [amibroker] Re: cannot buy on open
> > >
> > >
> > > Yuki,
> > >
> > > I've read the previous posts on this subject and feel the need to
> > > contribute to your side of the issue:
> > >
> > > AB is almost bulletproof on the technical indicators and triggers
> > > needed to initiate backtest trades...
> > >
> > > HOWEVER, I find that the ENTRY / EXIT stradegies of AB are not
> > > intuitive, and that a good bit of 'tweaking' and 'testing' is
> > > necessary to even attempt to come close to real-world orders for
> > > entry/exit positions of securities.
> > >
> > > For example, for years I have traded certain strategies as
follows:
> > >
> > > After hours Buy or Short Limit order @ todays (EOD) close or
"BETTER @
> > > OPEN".
> > >
> > > No StopLoss entered on day of order entry execution.
> > >
> > > After Mkt closes on day of order execution (and each day
> > > thereafter)... place trailing stop loss order .10cents above
or below
> > > todays high or low (only if new stop moves in direction of
position).
> > >
> > > The above has been a successful strategy with my own backtesting
> > > software and actual trading discipline.
> > >
> > > I cannot figure out how to accomplish the above in AB.
> > >
> > > And if folks are tolerant, I think I can come up with some other
> > > situations that have eluded me in past AB backtests that I can
> > > accomplish with my own software.
> > >
> > > And for those who wonder why I fool around with AB... TJ has
done an
> > > unbelievable job on the many technical indicators that are
needed to
> > > setup entry and exit signals that my own software is not
capable of.
> > >
> > > I tend to still rely upon my own backtesting (called 'SIM') for
> > > verification of real trading stradegies, but only because I
haven't
> > > figured out the more esoteric issues of AB Order/Entry issues.
> > >
> > > Regards,
> > >
> > > Phsst
>
>
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