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> My big issue is that I'd like to be able to set an exit price and
> have that be the actual price where it exits. For example, say
> the high/open of a bar is 10 and the low/close of a bar is 8.
> When this occurs, I want to exit my long position the next time
> the stock price hits 7. How can I do this? What statement would
> I use so on the next bar, if the high/open is 8 and the low/close
> is 5, I get an execution of my order at 7? Which would be best:
> ExitLong at 7 limit
> ExitLong at 7 or lower
> ExitLong at 7 stop
> something else?
This is covered very well in the TS4 manual, and probably in the TS2k
manual. "ExitLong at 7 stop" places a "stop loss" exit at 7, exiting
at 7 or lower. "ExitLong at 7 limit" exits at 7 or higher -- like a
real limit order, it sells at a price of 7 "or better."
> One more thing, if I put in an order such as "buy at 7 limit",
> that order is only good for the next bar, not good till cancelled,
> correct?
Correct. You have to re-issue the order on every bar as long as you
want it. It's a pain.
Gary
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