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Alex (and everyone else who replied):
Thanks. This was one of those "Duh!" things. More than one of member
of this list pointed this out to me. It should have been a stop order
instead of a limit order. I've been staring at this program for so long
I completely missed the obvious....
Thanks for the all the help everyone.
Sincerely,
Nigel
________________________________________________________________________
____
The real glory is being knocked to your knees and then coming back. -
Vince Lombardi.
-----Original Message-----
From: Alex Matulich [mailto:alex@xxxxxxxxxxxxxx]
Sent: Monday, August 19, 2002 5:05 PM
To: Nigel Bahadur
Cc: omega-list@xxxxxxxxxx
Subject: Re: Another Question - involving a limit buy at the high...
Nigel:
>I'm trying to place a limit order on the next bar based on the high of
>the current bar. i.e.: The current bar is forming and, when done, I
>want to have a limit order set on the next bar based on the just formed
>bar's high.
>Buy ("Buy_1_Lmt") next bar at High Limit ;
>None worked - in both cases, the purchase occurred at the open of the
>next bar.
Well of course. The next bar will almost always open lower than
the previous high, except during runaway uptrends. Did your next
bar open lower than the previous high? If so, your order will get
filled. "Limit" means "Limit or better" which means a buy order
will get filled at your limit price or lower, whichever comes first.
Perhaps you want to use a stop order instead? If you place a buy
stop order at the current bar's high, you won't get filled until the
next bar hits or exceeds the previous bar's high.
--
,|___ Alex Matulich -- alex@xxxxxxxxxxxxxx
// +__> Director of Research and Development
// \
// __) Unicorn Research Corporation -- http://unicorn.us.com
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