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The 'Jim Dean" FL Stop - question
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CardColin
Posted 3/26/2016 6:47 PM (#7463)
Subject: The 'Jim Dean" FL Stop - question


Spectator

Posts: 4
0
Location:
Canada: , Calgary, AB
Hello Jim,

You probably recall that you shared with me a revised 'Nirvana' Fixed Loss Stop on Close. I have been trying to incorporate this into my Strategies but something doesn't seem to be working as I would have expected. I'll attach an image file to show what I see.

My original purpose here was to get a stop like Nirvana's that would calculate a FLSonClose if the stock purchase was made days/weeks after the original Buy signal from the strategy. This way the Close value would be based on the Entry Price and the entry date. I set up your stop in my strategy and told it to use Entry Price rather than the other options. By default it shows the blue line (price paid) the day after the Buy signal has triggered, and the FLS red line starting from the same date.

I then entered into the portfolio a purchase price at a later date and retested the strategy. I expected the two lines to move to represent the actual purchase price and date - but no. Looking through the code it seems the Bar Count is always zero and there doesn't seem to be anywhere that it reflects the number of bars AFTER the Buy signal that the stock was actually bought. So I'm puzzled.

The attached image file shows the situation I've described. Please advise what I may not have done correctly!

Colin

(2016-03-26_16-18.png)



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JimDean
Posted 3/26/2016 6:49 PM (#7464 - in reply to #7463)
Subject: The 'Jim Dean" FL Stop - question



Owner/Admin

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The stop I sent most likely came from somewhere in this forum ... please look in the OmniLanguage Stops section for the one you are referring to, and re-post your questions there. I don't have everything memorized that I've created ... http://tradetight.org/forums/forum-view.asp?catlock=21&fid=131
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CardColin
Posted 3/28/2016 3:21 AM (#7465 - in reply to #7463)
Subject: The 'Jim Dean" FL Stop - question


Spectator

Posts: 4
0
Location:
Canada: , Calgary, AB
Hi Jim,

This is the thread in question: Fixed-Loss Stop, Revealed! (plus Guts). You posted two stops, one with and one without GUTS. Its the one without GUTS that I'm referring to with my question.

Colin
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JimDean
Posted 3/28/2016 8:20 AM (#7466 - in reply to #7465)
Subject: The 'Jim Dean" FL Stop - question



Owner/Admin

Posts: 3925
2000100050010010010010025
Location:
USA: GA, Lawrenceville
You said:
"I then entered into the portfolio a purchase price at a later date and retested the strategy. I expected the two lines to move to represent the actual purchase price and date - but no."

The "Entry Price" is related to the active Strategy, not to the Portfolio table. The strategy "communicates" its info to the Portfolio, but it's not a two-way street. The only way that you can manually set the entry point is via rightclick, Add Entry, and use the mouse to select the desired bar.

This works the same for canned and custom trade plans. It's a limitation of the OT engine.
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CardColin
Posted 3/29/2016 4:12 PM (#7474 - in reply to #7463)
Subject: The 'Jim Dean" FL Stop - question


Spectator

Posts: 4
0
Location:
Canada: , Calgary, AB
Hi Jim,

I'm a bit mystified - right click on what/where? If I right click on the chart I don't see any "Add Entry", only "Add Signal" and that doesn't actually add a trade. It sounds as if the strategy has to add the specific trade but I don't know how to make it do that. Could you give a bit more detail please?

Colin
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JimDean
Posted 3/29/2016 4:20 PM (#7475 - in reply to #7474)
Subject: The 'Jim Dean" FL Stop - question



Owner/Admin

Posts: 3925
2000100050010010010010025
Location:
USA: GA, Lawrenceville
Sorry ... was working from memory ... it's Add Signal

No, it does not add a trade. It does show how the TradePlan works from an arbitrary starting point.

The communication between the simulation mode and the Portfolio table is very very limited.

Probably what you are attempting is not possible. Limitation of OT.

:~(
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CardColin
Posted 3/29/2016 7:02 PM (#7476 - in reply to #7463)
Subject: The 'Jim Dean" FL Stop - question


Spectator

Posts: 4
0
Location:
Canada: , Calgary, AB
OK, I did as you described but the lines plotted by your FLStop don't change or move (image shows your blue and red lines and neither has moved). If I'm interpreting you correctly I think you are saying that there is no way to inform a strategy of the price you actually paid, or the day you actually entered the trade. Consequently all the stops are based on the strategy entry point. Is it possible that this occurs because I do not have a Trade Plan attached to my strategy? I just use the orders block to handle the various stops (including yours).

OR, are you saying that there is no way to tell a strategy what price was paid under any circumstances so the Loss stops will always be based on what the strategy thinks you would have paid?

If so, this seems to be a major shortfall of OT. Granted, the purpose of most (all) strategies is to identify when you should buy, but that doesn't mean shouldn't buy later if the stock tends to have a long in trade period historically. At the same time you would want to have an appropriate FLS calculated based on your purchase price. It might be possible to calculate that by hand but you would need to know the parameter values being used by the strategy for that particular stock, and that is not very easy. Seems there should be a way that would allow you to inform the strategy of the price and date at which the purchase was made. That information is stored somewhere because if you click on the end of the Vote line you get the information as to when the stock was purchased, and the price, based on the strategy Buy trigger. You would think that these variables would be accessible through OmniLanguage and that a link with the portfolio price/date would be possible. Have you raised this point with Barry or Ed? Or am I completely off track here?

Colin

(2016-03-29_16-26.png)



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