Using $daysheld with weekly and monthly strategies

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Using $daysheld with weekly and monthly strategies

Postby mandelmus » Sun May 04, 2014 7:54 pm

When using weekly strategies, if I want to exit 1 week later, should I set the exit to "$daysheld = 5"? When using monthly strategies, if I want to exit 1 month later, should I set the exit to "$daysheld = 20"? What are some best practices for these scenarios?
mandelmus
 
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Re: Using $daysheld with weekly and monthly strategies

Postby Overload » Mon May 05, 2014 8:35 am

When using weekly strategies, if I want to exit 1 week later, should I set the exit to "$daysheld = 5"?

Yes.

When using monthly strategies, if I want to exit 1 month later, should I set the exit to "$daysheld = 20"?

Technically "$daysheld = 21" is a little more precise.

What are some best practices for these scenarios?

Using the $daysheld rule is pretty straightforward. But I would say the one thing to be aware of is the use of AND or OR when combined with other trading rules. For example:

$daysheld = 21 AND rsi(14) > 75
The above means both conditions must be true for the exit to trigger.

$daysheld = 21 OR rsi(14) > 75
The above means either condition can be true for the exit to trigger. Neither approach is right or wrong. It really just depends what you want your strategy to do.

Pete
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