Re: one trade a day

[chris@xxxxxxxx (Chris Norrie)]

A question was posted to to the Omega List:

> On a system running on a daily bar chart I like to make sure that the
> system takes just one trade a day. How do I do this?

It received the following answer:

> Var: OkToTrade(False);
> 
> If whatever and OktoTrade = False then begin
> 	Buy("Yippee!") at open;
> 	OktoTrade = True;
> 	end;
> 
> If whatever and OktoTrade = False then begin
> 	Sell("Yahoo!") at open;
> 	OktoTrade = True;
> 	end;
> 
> If Date <> Date[1] then;
> 	OktoTrade = False;

Although this looks like it will work, it is a little confusing.
The variable OktoTrade takes on the opposite meaning than its name implies.
It would have read better:

Var: OkToTrade(True);

If whatever and OktoTrade then begin
	Buy("Yippee!") at open;
	OktoTrade = False;
	end;

If whatever and OktoTrade then begin
	Sell("Yahoo!") at open;
	OktoTrade = False;
	end;

OktoTrade = (Date <> Date[1]);



Another option would be to eliminate the variable OktoTrade
and use the following code:

If whatever and (EntryDate(1)<>Date) then Buy("Yippee!") at open;
If whatever and (EntryDate(1)<>Date) then Sell("Yahoo!") at open;


Chris Norrie