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<SPAN
class=387361214-24022003>Rik,
<SPAN
class=387361214-24022003>
So,
if I tell you that your new car is "Cool" it suggests that your new
car actually needs heating system repair work done? I think if you were to
call most brokerage houses today and asked them to place a 2% trailing
stop they will either tell you
<SPAN
class=387361214-24022003>
1) Ok
no problem
<SPAN
class=387361214-24022003>
<SPAN
class=387361214-24022003>or
<SPAN
class=387361214-24022003>
2)
Sorry , we are not capable of placing such an order, we can however cancel
and place new orders as needed.
<SPAN
class=387361214-24022003>
It is
a matter of semantics but today, most brokerage houses (that I have used)
consider a trailing stop a single order they can place that is automatically
adjusted........ but seriously, need a blanket?
<SPAN
class=387361214-24022003>
Jayson
<FONT face=Tahoma
size=2>-----Original Message-----From: Rik Rasmussen
[mailto:hrasmussen@xxxxxxxxx]Sent: Monday, February 24, 2003 6:43
AMTo: amibroker@xxxxxxxxxxxxxxxSubject: RE: [amibroker]
Re: cannot buy on openTrailing stops were used long
before any brokers had online order placement.The definition of a trailing
stop preceeds the recently introduced automatictrailing stops. Many people
still manually manage trailing stops, includingme since my broker does not
offer automatic (new fangled) trailing stops.(Not sure I would use them if
they did, I hate to give up my flexibility toa computer entry.) The
definition of a trailing stop preceeds the recentlyintroduced automatic
trailing stops.Rik RasmussenStock Analyzer mailing list
moderator<A
href="">http://groups.yahoo.com/group/stockanalyzer/>
-----Original Message-----> From: Phsst <phsst@xxxxxxxxx>
[mailto:phsst@xxxxxxxxx]> Sent: Sunday, February 23, 2003 11:38
PM> To: amibroker@xxxxxxxxxxxxxxx> Subject: [amibroker] Re: cannot
buy on open>>> > 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......>>> OK... exception
noted.>> So what do they NOW call the process of manually
adjusting the stop> price in order to obtain more granular individual
trading rule> preferences?>> 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 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@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
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> > > >> >
> >> > >
> Yahoo! Groups
Sponsor> > >
>
ADVERTISEMENT> > > >> > >
>> > > >> > >
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