exit strategy

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exit strategy

Postby marco » Sat Jun 15, 2013 5:16 pm

Pete, I have the following exit strategy:
proc(close,4) > 3.7 or $daysheld > 24

If I want to close the trade if this criterion is met intraday I suppose I have to go to the order types tab and use a limit order
ref(close,-4)*1.037

But what do I do with my exit string? Keep it as it is or only keep "$daysheld > 24"?
marco
 
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Re: exit strategy

Postby marco » Sun Jun 16, 2013 7:17 am

I think I have this one figured out, order types exits add to the regular exit string, so in this case I could remove the proc part.

But what if I want to exit the day after the exit signal and wonder whether I'm leaving anything on the table? In others words not exit right at the open but place a limit order at the open + 0.5 % or + 1%? If I try to do that all trades are closed at the day of entry, do I have to add something to avoid that?
marco
 
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Re: exit strategy

Postby Overload » Mon Jun 17, 2013 8:16 am

Just so you know, using a limit order on the exit is an alternative to the exit string. So if either condition is met, your position will be exited.

Pete
Overload
 
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