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It would be nice to exit longs at the open if you knew your stops
would be hit later in the day. That seems to be what I'm doing with
the following illustrative code.
Cl = Foreign("QQQ","Close");
BuyPrice=SellPrice=ShortPrice=CoverPrice=Open;
SetTradeDelays(1,1,1,1);
ApplyStop(stopTypeLoss,stopModePercent,5,True);
Buy = Cross(EMA(Cl,5),MA(Cl,15));
Sell = Cross(MA(Cl,15),EMA(Cl,5));
Equity(1);
Short = Sell; Cover = Buy;
Equity(1);
What I'm trying to do is to trade QQQ at the open as called by my Buy
& Sell conditions, but to exit the trade at the open if the previous
day's low was below my stop, and then wait for the next trade signal.
The 1/7/03 long position (with a 5% StopLoss) was closed at the open
on 1/21/03 but the stop wasn't hit until later that same day :-(
Does anyone know how I should change the code so that it activates
the stop based on the prior day's bar?
I have the range set for 01/01/02 to 09/12/03. In Settings I
have "Activate stops immediately" and "Allow same day exit" checked.
I'm using eod data.
Keith
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