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Owen,
To echo and underscore Herman's comments, unless your indicators or system
rules are referencing the open, you should make sure this delay is set to 1.
Metastock evaluates all of your formula language on the current bar as it
steps through the dates loaded in your chart. Of course, entering on the
open (with a delay of 0) for signals and triggers that are based off the
close 6.5 hours later makes for some outstanding system tester results.
That's one of those "if it looks too good to be true..." tests.
By the same token, entering on the close with zero delay means you are
anticipating a signal as the market nears its close and you are trading that
close. If your system uses opening prices, then you could be entering on
the open with zero delay--you'd be watching the premarket and placing a
Market On Open order in anticipation of the opening print.
These are all viable approaches, but it's something to watch out for if
you're getting some great system results by trading off the open.
Dave Nadeau
Fort Collins, CO
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Herman van den Bergen
> Sent: Sunday, June 24, 2001 2:24 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Another really dumb question--Enter on Open?
>
>
> At 03:04 PM 6/24/01 -0700, you wrote:
> >Seems my memory is even worse than it first appeared. How do I
> tell MS to
> >start a trade on
> >the day's OPEN?
> >
> >Many thanks.
> >
> >Owen Davies
> >
> In the System Tester window click on Options, in the System
> Testing Options
> window that pops up, select for Trade Price OPEN and select a delay of 1
> Day (typical). Select Exit Price similarly.
>
> Good luck,
> Herman.
>
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