Re: Question about Stop Loss Signal:

[LScharpen@xxxxxxx]

In a message dated 11/12/00 7:26:52 PM Pacific Standard Time, 
rcavaler@xxxxxxxxxxxxx writes:

<< This is the TS code for the EntryBar Point Stop LX (Signal).
 
 Inputs: RiskPnts(5);
 
 If MarketPosition <> 1 Then
  ExitLong ("EBP") Next Bar at Close - RiskPnts Points Stop;
 
  I am a little confused about the 'If' conditional. How can a stop order
 be placed if MarketPosition <> 1 (i.e., you are not in the market yet?).
 I was sort of thinking that this conditional should read MarketPosition
 = 1. What am I missing here?
 
 Many Thanks,
 
 Robert
 
  >>
Robert,

As I read the description of this reserved exit command, it  says "only valid 
at the entry bar".  So at the NEXT bar it would look to see if marketposition 
was THEN 1 and, if so, this code sets a stop price equal to the close of the 
CURRENT bar - 5 points (the default value for input riskpts).  It doesn't say 
what this code would do if there were NO long entry (from other code) on the 
next bar.  I presume it would just do nada.

If marketposition for the CURRENT bar was in fact = 1, then the NEXT bar 
could NOT be an entry bar and the code you included would not work in any 
event.

I hope I haven't ADDED to your confusion. <G>

Lee Scharpen