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Simply buy system
Last Activity 11/19/2018 6:30 PM
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Pattoledo

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Subject : Simply buy system
Posted : 11/13/2017 4:54 PM
Post #29676

I am trying to write what I thought to be a simple system, without any success. All I want to do is buy everyday and sell the next day everyday, and buy on the same day as I sell. The best I can come up with is buy every other day. I cannot buy and sell on the same day. Any help would be appreciated.
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Jim Dean

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Subject : RE: Simply buy system
Posted : 11/14/2017 4:46 AM
Post #29677 - In reply to #29676

That's almost like a reversal system, without the reverse. OT cannot do what you are asking as far as I know. It needs to have a day that has a signal fired, then either buy the close of that day or the open of the next (or some other method). Once it's in the trade it can exit the same day. But while in the trade, it ignores any additional Signals for new trades since its already in one.

You can design a pure reversal system, but it requires use of the Orders Block (not the Trade Plan block). The exit signal *is* the entry signal, in the opposite direction. But that's not what you asked for.

Using a Trade Plan you can design a scaling-in and scaling-out strategy. I've set up trade plans with Entry and five Addons, combined with random Pattial exits … trade plans are versatile! But …

I have no idea why you'd want to do what you are describing - if you could explain the purpose behind it maybe I could suggest another way of going about it.

[Edited by Jim Dean on 11/14/2017 4:47 AM]

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Mel

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Subject : RE: Simply buy system
Posted : 11/14/2017 2:34 PM
Post #29678 - In reply to #29677

Or use real time data, not EOD. You could get close.

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Mel

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Subject : RE: Simply buy system
Posted : 11/14/2017 2:37 PM
Post #29679 - In reply to #29678

If you scan for the stocks that move overnight (gap) instead of those that move during the day, you could make a system that enters on Market close, exits on market open. I think.

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Pattoledo

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Subject : RE: Simply buy system
Posted : 11/14/2017 5:00 PM
Post #29680 - In reply to #29676

So this is what I want to do. I want to use this as a way to see if there is any consistency in a stock price. A simple system would be to buy long on the close on Monday if c > c[1] and then sell at the close on Tuesday, but be able to buy again on Tuesday at the close if again c> c[1]. I would use this to help make a decision to buy with the signal from another system. I can set it to buy on Monday if c > c[1] and sell on Tuesday, then set it to buy on Tuesday if c > c[1] and sell on weds and continue with Wednesday and Thursday and Friday then add them all up but is just to much work. If a stock price increases say 70% of the time tomorrow after going up today it would give me confidence that a buy signal from another system would work out.
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Mel

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Subject : RE: Simply buy system
Posted : 11/15/2017 8:33 AM
Post #29681 - In reply to #29680

Figuring out tomorrow has a lot of research done by the opening gap traders. Here is my (out-of-date) summary of what they do.
Attached file : OpeningGap.pdf (727KB - 65 downloads)

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Jim Dean

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Subject : RE: Simply buy system
Posted : 11/15/2017 10:05 AM
Post #29682 - In reply to #29680

You can do all this with an Indicator much more easily, I suspect. Think about simulating the entries and exits in the Indicator, and keeping track of whatever stats you want to examine, also within the indicator. You can output the results via a "Debugmsg(string-variable)" command in OLang, or use "if bar = Numrec-1 then MsgBox(string-variable)" to see a popup. NOTE: the if/then with MsgBox is *important*, to prevent a repeat on every bar.
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John J

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Subject : RE: Simply buy system
Posted : 11/15/2017 1:41 PM
Post #29683 - In reply to #29676

Attached is an excerpt from a book named "Trading Outside Normal Hours" (unfortunately to large to attach here).

This is a very interesting topic...!


Attached file : Historical Overnight Tendencies.pdf (2221KB - 63 downloads)

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Pattoledo

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Subject : RE: Simply buy system
Posted : 11/20/2017 5:04 PM
Post #29684 - In reply to #29676

Thanks for all the input
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