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Don't only look at changing your code. If you want
that type of control over what happens every
day(intra-day) you should look into using intraday
charts. Even if you use something like 60 minute bars.
Then you can cancel/change your orders every 60
minutes.
This would probably imply rework on your code overall,
but it will let you do what you set out to do.
--- Bill Wynne <tradewynne@xxxxxxxxxxx> wrote:
> >From: KD <debkow@xxxxxxxxxx>
> >To: omega-list@xxxxxxxxxx, bfulks@xxxxxxxxxxxx
> >Subject: Exit
> >Date: Wed, 15 Nov 2000 09:17:14 +0100
> >
> >Hello,
> >
> >
> >I have a little problem with my exit rule.
> >I use buy and sell rules in my system and they work
> fine,
> >but I would like to add exitlong (exitshort)
> module.
> >I'd like to exitlong once my profit since entry is
> > 100
> >and price crosses below this level (entry price +
> 100).
> >(If it will be a false signal, my buy rule will
> open a new position).
> >I wrote:
> >
> >maxprice=highest(high,barssinceentry);
> >
> >If (MarketPosition = +1) then begin
> > If maxprice > EntryPrice(0) + 100 then
> > ExitLong at EntryPrice(0) + 100 stop ;
> > end ;
> >
> >But I can't use stop orders for today's bar. They
> work only for tomorrow.
> >For example: yesterday my entry price was 1000.
> Today the highest price
> >was 1130 and close 1090. I would like to exit long
> at 1100,
>
> Krzysztof:
>
> Consider that even if you could have your stop
> working intrabar the results
> would be unreliable. Using your example: when the
> market is at 1101 your
> stop would be at 1100; there would be no way to know
> what transpired inside
> the bar after that point. In fact, if the market
> rallied to 1130 and then
> dropped below your stop at 1100, and then closed at
> 1101, TS would still
> assume you were NOT stopped out in historical
> testing. Obviously in real
> life you WOULD be stopped out. The TS manual
> discusses this in detail.
>
> Also, consider your code asks for a stop at nearly
> the same price and time
> as your target:
>
> > If maxprice > EntryPrice(0) + 100 then
> > ExitLong at EntryPrice(0) + 100 stop ;
>
> As soon as the market
> is at "+100.01" your stop would go in at "+100."
> In theory, and in real time, your stop would be 1
> tick
> under the market if I understand correctly.
>
> Bill Wynne
>
> >but with
> >this code I can't do that. I can exit my position
> only tomorrow,
> >but tomorrow's open could be ie. 1050.
> >How can I change my code?
> >
> >Thanks and best regards,
> >Krzysztof
> >
> >
>
=====
Victor C.
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