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Any system that uses Buy on Close is flawed anyway. The results are not reproducible in real time. PERIOD !!! So all of this is a mute point.
There are two types of systems that system's that you know are bogus right from the start. In fact do not buy or trade any system that 1) has a statement buy on the close
2) works off of tick charts.
The results off both of these types of systems are not reproducible in real time. The tick chart one will give you a wide difference just based on your data provider. again not reproducible in real time.
If you have a buy on close it would be much better to say buy tomorrow at XX stop; XX being a price above todays close that confirms the direction of the trade. This way you know it is possible to get the results you see in real time. I like to use the High or the second derivative of a MA of the prominant cycle length.
A couple years ago there was a program called recurance IV, that daytraded the Swiss Frank. The CTFC shut them down because they had that statement buy on close. It was impossible to get filled on the winning trades where the system said you should be filled but you could get filled on the losers. It just is not possible to buy on the close because the close is not known until the market is closed !!!
:-)
Dale
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