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Strategies & Market Trends : Technical Analysis- Indicators & Systems

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To: David Russell Coburn II who wrote (1416)	6/11/1997 6:24:00 PM
From: Bruce A. Bowman	of 3325

What you're struggling with is the reason I bought TradeStation. I'm not sure it's worth it. Neither WoW nor MS allow setting a buy or sell at a specific price. But the only time that's significant is when you're trading very short term and scalping fractional points for your profits or where there are large multiples involved like when trading futures. If you're looking at (hopefully) > 3 week trades, let's say, then that kind of minute detail is probably not necessary. You can drive yourself crazy with numbers. Try hard to keep it simple and direct. To use barssince() you'd have to know which price you used to enter a trade: O, H, L or C. In the options you decide which of these prices you will use for all trades. If you've chosen C, then you could use ref(C,-barssince(expression)) where "expression" reconstructs what got you into the trade. Since your looking backward in time and you know which of the 4 possible daily price values you used to enter the trade, then barssince() will give you the index to look back in time to the value for (in this example) C which you used to enter the trade on that day. If you have chosen to enter trades the next day, then you'd have to use: ref(C,-(barssince(expression)-1)). What I'm brushing aside as "expression" can be very difficult to construct since you have to allow prior events to be considered and it has to include all the filters you used referenced back to the entry day. There are other s/w alternatives besides TradeStation for doing scans and system tests that allow tracking entry/exit price and doing multiple entries, etc. Steve Zodkoy will be presenting info on TechniFilter Plus at the NJ event and you might want to pay close attention to what he and Bill Sandusky can tell you about that s/w. TF+ is a lot cheaper than TS and is incredibly fast. It has about 8 built-in functions for recalling info about the current trade and account size and also permits using margin in your trades. Bruce

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