|
PureBytes Links
Trading Reference Links
|
aogorman@xxxxxxxxx wrote:
>
> Hi All,
>
> I've been testing a system for some time now independent of TradeStation
> utilising the skills of a programmer. I'm using daily open high low
> close data but have run into a problem; once I get into a position, how,
> if the low on the day is below my stop (long trade) can I be sure I
> haven't been hit. The obvious answer seems to be to assume the worst
> case and stop myself out, does anyone have any other suggestions?
>
> Tks in Advance,
>
> Aongus
To Aongus,
You absolutely must have access to intra-day data or you are just
kidding yourself trying to paper-trade with end of day data; it just
isn't reliable. When the close of the day is near the high, you would
assume that the low was made first (particularly if the open is near the
low), but this is not always the case and only an intraday chart will
tell you for sure.
Some years ago I was testing Charles Lindsey's TRIDENT, A TRADING
STRATEGY using end-of-day data, and I thought I was doing real good so I
started trading the strategy with real money and lost it fast. This is
a business totally dependent on reliable, and COMPLETE information. You
shouldn't settle for less.
|