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Thanks Dave, and it's probably me doing the misunderstanding.
A long position may span many days. If, at any time, the LOW is below
MyLongStop then exit the trade at the next day open - otherwise
remain in the trade until the next Sell signal.
Similarly, a short position may also span many days. If,at any time,
the HIGH is above MyShortStop etc. etc.
The stops are intended to limit losses to 5% although the actual loss
may be more or less because the Low/High isn't known until eod.
As you can see below, I have been trying to achieve this using
ApplyStop but I seem to be looking into the future.
Hope it's clear and if you, or anyone, have any suggestions they
would be appreciated.
Keith
--- In amibroker@xxxxxxxxxxxxxxx, "Dave Merrill" <dmerrill@xxxx>
wrote:
> uh, that was supposed to be "sorry if *I* missed the point...
>
> dave
> I'm probably misunderstanding something basic here, but why not
skip the
> buy
> in that case, instead of entering it and exiting later the same
day? in
> other words, add the condition Ref(Low, -1) > MyStop to the buy
condition.
>
> or are you trying to make a profit on that partial day when this
sequence
> happens?
>
> sorry if you missed the point...
>
> dave
>
> > 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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