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You should be able to program this in TS8.1. It does have ways to test if your order got filled. Look at the all the new functions under the TradeManager category. These allow you to read the data from the TradeManager real time.
I tried something similar using limit orders a while ago using 1-minute bars and decided that it was better to simply use market orders for such rapid transactions. The bookkeeping on rapidly issuing and cancelling limit orders stressed the system excessively.
Bob Fulks
At 12:13 AM 11/9/2005, Ken DeSure wrote:
>Hi,
>
>I'd like to know if it's possible to execute trades this way in a strategy written in Easy Language and would like advice on how to do this (if possible):
>
>I'd have a sell limit order above the current market prices, as a profit target, based on calculations done on the previous bar. If TS.com does not execute this when hit or if it's not filled completely, I'd want to have this limit order cancel and have another order to sell at the InsideBid immediately. Conversely, I'd have a buy limit order below the current market prices, also based on calculations on the previous bar. If the order is not executed, I'd like to have it cancel and execute an order to buy at the InsideAsk immediately.
>
>My problem is that the backtesting shows some of the trades being executed with the sell limit order at the high of the bar, at the ask, and the buy limit order is a the low, at the bid. There's no way I can get filled buying at the bid or selling at the ask. I tried to have it execute in real life but while TS's strategy shows the limit prices being hit, profit target signals being taken, it doesn't get filled at those prices in real life.
>
>I would love to have this done automatically via a strategy in TS 8.1. Is it possible and how would you advise me to do it?
>
>Thank you,
>Ken
>
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