Close stop or Close limit

• 06/26/2018 at 6:20 PM #74451
  pancho0423

  Hello,

  In my trading system with long positions, probacktest sometimes executes the order better like “buy 1 share at close stop” and other times it is more correct “buy 1 share at close limit” depending on whether there is a bullish or bearish gap.

  Is it possible to tell probacktest to choose the option closest to the closing price when the conditions are met? I have tried to put the two options, but then open two positions and I just want you to open one.

  Thank you.

   

   

  

  pancho0423

  Participant

  Topics: 4

  Replies: 11

  Been thanked: 1 time
  06/26/2018 at 6:42 PM #74452
  Vonasi

  All decisions are made at the close of a candle and orders placed at the opening of the next one so once a new candle opens it is too late to change anything or make any decisions based on this candles opening price.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1810 times
  06/26/2018 at 6:49 PM #74453
  robertogozzi

  Use LIMIT when your entry price is more favorable, i.e. you want either to buy at a lower price or sell at a higher one.

  Use STOP when your entry price is less favorable, i.e. you want to either buy at a higher price or sell at a lower one.

  Use IF to compare prices and place the correct pending order.

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16465

  Been thanked: 3641 times
  06/26/2018 at 7:19 PM #74455
  Vonasi

  robertogozzi wrote:

  Use IF to compare prices and place the correct pending order.

  But if I understand correctly the OP wants to make that decision based on the gap to the next candle which is not known until that candle opens and then it is too late to place any orders.

  

  Vonasi

  Moderator

  Topics: 192

  Replies: 5088

  Been thanked: 1810 times
  06/26/2018 at 7:53 PM #74457
  robertogozzi

  Entering AT CLOSE is a bit awkward, ’cause when the candle closes and conditions are met maybe a tenth of a pip has already moved up or down (ot there can be a GAP)  and CLOSE might be slightly away from that price and you cannot tell whether you have to place a LIMIT or STOP order.

  As Vonasi said, it is impossible to predict a GAP, so I suggest to use AT MARKET, instead.

   

  

  robertogozzi

  Moderator

  Topics: 69

  Replies: 16465

  Been thanked: 3641 times
  06/26/2018 at 9:25 PM #74460
  pancho0423

  ok, thanks !

  

  pancho0423

  Participant

  Topics: 4

  Replies: 11

  Been thanked: 1 time
• Author
  Posts