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I have been a TradeStation user for many years. All my systems have previously used
stops or market orders. Now I'm trying to test something with limit orders, and I'm
absolutely stumped. It must be something simple I'm missing, but I'm at my wit's end
here and was hoping someone could steer me in the right direction.
I want to get a simple limit exit working first before I move on to anything else. Here
is the idea in it's most basic form.
if condition1=1 then buy at market;
exitlong at entryprice(0) + 1 point limit;
For example, if I bought yen at .7800, I want to exit at .7801. One would think TS
would buy at the open and immediately exit (if possible) for a 1 tick profit. Or if it
can't execute two orders on the same bar, then enter on the open, and exit the next bar
(if possible) with a profit of 1 tick. Yet neither of these two things happen. I can't
find any rhyme or reason to what it's doing. Somtimes it exits days later at a
seemingly random price, other times it enters and exits on the same day at the same
price. Using qualifiers like barssinceentry>1 or "next bar" don't seem to help.
I have used the print log to verify that entryprice is correct and 1 point is correct in
the symbol universe. TS correctly knows that 1 point in the yen is $12.50 and for an
entryprice of .7800, entryrprice(0) + 1 point = .7801, but it still doesn't do what it
should. What am I doing wrong?
After this is solved, the next question, is why does TS think all stocks have a
pointvalue of 0, even though the bigpointvalue is correctly identifed as 1? I was
originally trying these limit orders on stocks and realized I think I have a symbol
universe problem in addition to not understanding why my limit orders aren't working.
Any help would be greatly appreciated so I can't finally get some work done while I
still have some hair left.
Thanks,
Lawson McWhorter
lawson@xxxxxxxxxxxx
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