Re: Day of Entry Stops

[Bob Fulks <bfulks@xxxxxxxxxxxx>]

I am assuming you are using daily bars.

You need to enter both a Buy stop and ExitLong stop today for tomorrow. Then enter a different ExitLong stop after you are filled.  Something like:


Price1 = ....
if ... then BuyOK = TRUE;
StopPts = 5000 / (BigPointValue * Cons);

if BuyOK then begin   {Orders for bar of entry}
   Buy Cons contracts next bar at Price1 stop;
   ExitLong next bar at Price1 - StopPts stop;
end;

if MarketPosition = 1 then begin {Order for bars after entry}
   BuyOK = FALSE;
   StopPts = 3500 / (BigPointValue * Cons);
   ExitLong next bar at EntryPrice - StopPts stop;
end;

Bob Fulks

At 12:42 PM -0500 12/13/01, Jdev02@xxxxxxx wrote:

>I'm having problems with defining a stop for my Day of Entry.  On a high
>accuracy S&P system, I want to give the market a little more room on the day
>of entry.  I've tried several approaches that I'm not satisfied with.  Can
>someone tell me how to place a $5000 stop that takes me out on today's close
>if that close is less than $5000 from the entry point or an equiviant point
>value.  The following is my code for my stops past the entry
>day............thanks/John.......  jdev02@xxxxxxx   
>               .
>If  MarketPosition = 1 and close > EntryPrice
>    Then ExitLong ("NR7 LxMOC") on Close;
>
>If MarketPosition = 1 and nOpen > EntryPrice
>    Then ExitLong  (" NR7 LxBail") Market;
>
>    If MarketPosition = 1 and barsSinceEntry >= 1 then
>    SetStopLoss(3500);