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Registered User
Joined: 2/28/2006
Posts: 29
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on the back-scanner... how do i set my trade length to an "x" number of days and using an "x" profit target % in conjunction with one another? I am looking to see if the profit target % will hit within the trade length. if the profit target hits sooner than the trade length i would like the back-scan to trigger to sell before the trade length.
please advice...
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If you have both Trade Rules as Exit Rules with higher Priority than the Entry Rule (higher in the list), either Trade Rule should Trigger the Exit and their order relative to one another should not matter (whichever happens first will Trigger the Exit).
-Bruce
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Registered User
Joined: 2/28/2006
Posts: 29
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it works like a charm... BUT i guess i should ask you the right question. how do i exclude the same buy day (entry) result if i decided to buy at the closing pricing? what i don't want to see is that the trigger will hit the same day.
once again please advice...
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You could use a Trade Length Rule to Remain in Trade with a Trade Length Less Than 1 or 2 Bars and give it a higher Priority than any Exit Rules you wish to prevent Triggering.
-Bruce
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Registered User
Joined: 2/28/2006
Posts: 29
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got it... here's what i am trying to accomplish... i buy at the end of the day price and sell at a higher percentage at a later date. when i run a back-scan i'm setting a proft target % to hopefully hit before an "x" number of bars, I would like to see the results the day after i buy the stock (end of day price). the problem i'm running into is that back-scan will also pickup on the same days result (which doesn't make any sense of what i am trying to accomplish). here's what's happening, i'm buying at the end of day price and if the price earlier in the day hit my price target % the results will show that it has triggered hitting my price target % the same day even if it happened before i bought the end of day price. i hope this explanation doesn't confuse you.
I look forward to your resolution...
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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If you have a Trade Length Rule to Remain in Trade with a Trade Length Less Than 1 Bar as the top Rule, your two Exit Rules next and then the Entry Rule, your Profit Target Exit Rule should not Trigger when the Trade Length is less than 1 Bar.
If you do have a Trade Length Rule to Remain in Trade as the highest Priority Rule and it is Trading before this Trade Length, then please select Help | Send Layout so technical support can take a look. Please include a description of the issue you are experiencing when sending the Layout to technical support.
-Bruce
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Registered User
Joined: 2/28/2006
Posts: 29
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yes you're correct that the exit rules should not trigger... But before i send a layout to technical support would you be so kind to answer this... why is it when i've set the entry rule to buy at the closing price with the profit target set at an "x" %, the trade exits the next day even though the next day has not triggered the profit target.
i'm making an assumption that the rule see's that it has triggered the profit target the same entry day even though the entry price was the closing price. for some reason that i don't understand it doesn't see that the entry price was the closing price.
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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I don't know why you get an exit when your profit target is not met. It is not something I have seen happening in my Layouts. That said, it is either a problem with your Layout/program or a bug.
We don't offer technical support in the forums. Technical support will look at your Layout and troubleshoot the issue. If it is a problem with your Layout or program, they will do their best to fix the issue. If it is a bug, they will document the issue so it can be fixed. In either case, technical support is your best option.
-Bruce
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Registered User
Joined: 2/28/2006
Posts: 29
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thank you for your reply. i sure appreciate your time and expertise. enjoy the rest of your day!
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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You're welcome.
-Bruce
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