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Henry Amand wrote:
>Alex Matulich wrote:
>> > If i uncheck the "update every tick", will my charts still update?
>>
>> Yes, they'll update at the end of every bar instead. "Update every
>> tick" causes your indicators to be recalculated every time a new
>> tick comes in. This is useful if you're waiting for the indicator
>> to reach some value intra-bar before manually placing a market
>> order,
>
>With this you probably mean that you anticipate the comming order
>so you can place the order and press execute at the moment the
>bar is finished so you will trade exactly at the same time as your
>trading system is taking orders ?
No, that's not what I mean. I was referring to a situation where
something happens while the bar is forming, demanding immediate
action on your part, before the end of the bar. That's what update
every tick is for. Let me give an example.
Suppose your strategy uses 10 minute bars. Say you have to place an
order when some confluence of indicators occurs. These indicators
don't have to be based on price either. Or it could be as simple
as a price touching a trendline. Suppose also that your strategy,
although using 10 minute bars for calculating set ups and entry
signals, requires you to place a market order at the instant of the
event (indicator crossover, trendline touch, whatever). You can't
place a stop or limit order on the previous bar because you don't
necessarily know what the price will be until the signal occurs.
This can happen inside a bar, and it might be too late if you waited
until the end. So you update your indicators on every tick, and
when the time is right, you place your order to the broker.
This is useful for manual real time trading only. If you're having
Tradestation generate the orders for you, then updating every tick
does you no good at all, because Tradestation does its strategy
calculations only at the end of each bar. Tradestation *will*
execute stop and limit orders in the middle of a bar, if those
orders were placed on a previous bar. But you don't need to update
your indicators every tick for that.
I WISH tradestation would update strategies every tick. I have
a lot of uses for that. People will argue that this will end up
placing lots of orders that whipsaw in and out during a bar's
formation, and I say that's bull****. All TS needs to do on each
tick is to reset the bars and strategy calculations, but NOT reset
the state variables like MarketPosition. So if an order gets filled
inside a bar, on the next tick your strategy would be able to
account for that.
--
,|___ Alex Matulich -- alex@xxxxxxxxxxxxxx
// +__> Director of Research and Development
// \
// __) Unicorn Research Corporation -- http://unicorn.us.com
|