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<SPAN
class=010294804-24022003>Phsst,
<SPAN
class=010294804-24022003>
I
think that is just called a stop limit order, where the stop is activated at a
given price but the sell (or buy) price is limited. A stop market order converts
to a simple market order once the stop price is hit...
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Phsst <phsst@xxxxxxxxx>
[mailto:phsst@xxxxxxxxx]Sent: Sunday, February 23, 2003 11:38
PMTo: amibroker@xxxxxxxxxxxxxxxSubject: [amibroker] Re:
cannot buy on open> No, a trailing stop loss order
AUTOMATICALLY adjust the stop priceby a given percent or value example 5% or
.50 cents. This is differentfrom entering a stop order and making changes
your self......>OK... exception noted.So what do they NOW
call the process of manually adjusting the stopprice in order to obtain more
granular individual trading rulepreferences?Just
curious.Phsst--- In amibroker@xxxxxxxxxxxxxxx, "Jayson"
<jcasavant@xxxx> wrote:> No, a trailing stop loss order
AUTOMATICALLY adjust the stop price by a> given percent or value example
5% or .50 cents. This is different from> entering a stop order and making
changes your self......> > Jayson> -----Original
Message-----> From: Phsst <phsst@xxxx> [mailto:phsst@xxxx]>
Sent: Sunday, February 23, 2003 10:21 PM> To:
amibroker@xxxxxxxxxxxxxxx> Subject: [amibroker] Re: cannot buy on
open> > > Guess I'm confused.> > One of the
followup msgs to this thread stated that Scottrade did not> support
trailing stop loss orders.> > Trailing stop loss orders are
nothing more than STOP orders with a> price specified that will trigger
if the security trades against the> position and through the STOP price.
It is referred to as a 'Trailing'> Stop Loss order when you peridically
change the specified Stop price> to 'Trail' the price action of the stock
price to either limit losses> or protect gains.> >
Backtesting software simulates the manual adjustments that must be> made
regurlarly to Stop prices for trailing stop loss purposes.> > Is
this one of those 'teach an old dog new tricks' thingy's?> >
Phsst> > --- In amibroker@xxxxxxxxxxxxxxx, "Richard Harper"
<rdharper@xxxx>wrote:> > Phsst;> >> >
Here is the appropriate help section from the live screen:> > What is
a stop or a stop-limit?> >> > Stop Order is a buy or sell
order which automatically converts to a> market order and will buy and
sell securities at the current MARKET> price once the order is triggered
by the stop price. For OTC orders,> a stop order becomes a market
order if either scenario takes place.> The stock is quoted (bid for sell
stops and ask for buy stops) at your> stop price or actually trades at or
through the stop price. For> listed stocks a customer is entitled
to the next sale on the primary> market when the price trades at the stop
price, providing there are> enough shares available at that
price.> > A stop order may be a day order or a good til cancel
order. A limit> order is not the same type of order as a stop
order. Buy stop orders> are placed above the current offering price
and sell stop orders are> placed below the current bid price. A
stop order gives you the> opportunity to protect a profit or limit a loss
on a security already> purchased. Be aware that significant, short
term market movements may> trigger your stop order, creating an
undesired/unwanted buy or sell.> Also, depending on market conditions and
the fact that your order is a> market order, once triggered, there is no
guarantee of what price it> will be executed at and can be several points
away from the stop price.> >> > Stop Limit Order is an order
to buy or sell a security at a> specified price or better (stop limit
price), but only after a given> stop price has been reached or
passed. It is a combination of a stop> order and a limit
order. A stop limit order may be a day order or a> good til cancel
order. Unlike a stop order which converts to a market> order once
order is triggered by the stop price, a stop limit order> would only be
executed at the limit price or better. As with any> order limited
by price, the risk is that you have the opportunity that> your order
would not be executed if the market price does not reach> the
limit.> >> > Stop Orders and Stop Limit Orders are handled
differently by the> exchanges and are considered "not held" orders.
No priority is given> to these orders and you may not be executed, even
if the stock is> trading at your price.> >> >
***NOTE: Stop orders must be placed at least .25 of a point below>
the current bid or above the current ask. We have established this>
guideline due to the possibility of the order being invalid if the>
market price moves below the designated sell stop price or above the> buy
stop price.> >> > ----- Original Message
-----> > From: Phsst <phsst@xxxx>>
> To: amibroker@xxxxxxxxxxxxxxx> > Sent:
Sunday, February 23, 2003 5:16 PM> > Subject: [amibroker]
Re: cannot buy on open> >> >> >
<<Scottrade supports all but Mkt on Close, End of Week, End
ofMonth.> > Nor trailing stops, the thing I'd like to
see added next. Theothers> > 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
existingShort> > 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 ofMonth.> > Nor trailing stops, the thing
I'd like to see added next. Theothers> > 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. Iuse 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@xxxx]>
> > > > 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 ABare 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 thatI 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/Entryissues.>
> > > >> >
> > > Regards,> > >
> >> > > > > Phsst>
> >> > >> >
> Yahoo! Groups
Sponsor> >
>
ADVERTISEMENT> > >> >
>> > >> > >>
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