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jimh  
#1 Posted : Sunday, May 17, 2009 12:32:20 PM(UTC)
jimh

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Joined: 5/17/2009(UTC)
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Is there a way that I can get EST to ignore "order bias"?

I don't want the EST to cancel a trade due to bias. I simply want to buy or short on "open". Portfolio bias "single"; so that it will close any existing trade prior to placing the new trade on the open. I have tried System Testing Options for both "realistic" and not. Also, delay order opening 1 and 0.

I only use EOD Metastock 10; so I want to test EOD only. I realise that my market entries and exits happen on the days after the signals. I don't want the EST to second guess me and cancel the order. I will work out strategies when I find a decent resulting test. I just want EST to tell me how stupid I am and not second guess me. So many combinations. At one point I was getting more than 50% Trade Efficiency. It was deceptive.

I've also tried filling in the "Sell Order" and the "Buy to Cover Order". I've tried leaving them empty too. I've tried the Strategic Delay Bars too. Since I want EOD only, I think I should use 1 in the Strategic Delay.

I am getting "Cancelled - Position closed" on the Event; and "Bias Change" on the Source. Sometimes I get "Cancelled - Bias change" on the Event as well. I think I've gotten other messages depending upon my trade and bias selections.

I've programmed computers for nearly forty years; so I know how computers only do what you say and not what you mean. In this case, I must not be very explicit in what I say. Heck, I know it is unrealistic. I just want to test; not go to market with my system.

I simply want the EST to always be in the market with one contract (Futures) and going in either direction depending upon a signal. Buy, then short, then buy, then short, etc.

Hopefully, I've made sense.


wabbit  
#2 Posted : Sunday, May 17, 2009 8:35:24 PM(UTC)
wabbit

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Hi Jim,

Welcome tot he Forum.

The EST is the part of MS that causes the most number of questions on the forum (well, a lot of questions anyway) but it is the part I use the least...

As you're looking for a "classic" swing trading system, the portfolio bias setting "should" be swinging your trades long-to-short and short-to-long based on the BUY and SELL SHORT criteria. One problem that occurs (sometimes?) is the exit from the first part happens on one bar and the reverse position is opened on the next bar, when most swing traders will do both parts on the same bar. Without looking into this too deeply (swing trading is not my "thing") have a look at Roy Larsen's posts on the forum (http://forum.equis.com/forums/thread/18540.aspx
jimh  
#3 Posted : Sunday, May 17, 2009 10:02:53 PM(UTC)
jimh

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Oh thanks. What a relief. I knew it had to me one of the massive combination of settings. Larsen's proposal was what I needed. Good find.

He says, "...apply a Strategic Delay of 1 bar to the Buy order". I was setting it on all orders. I had tried 0 and 1; but I set all order alike. It makes sense to me now. Like I said, computers only do what you say; not what you mean.

He also said, "Set the Simulation Buy Price to OPEN and Delay order opening to 0." That's important. I knew I had to do something here; otherwise the EST would try to create realistic market prices. All I want to do is test the combination of indicators.

I see that I have some more tweaks in the bias; but I have the principle in my mind now -- thanks to you. This EST is a rich application. So many settings to adjust.

It is more reasonable to see my system give 43% trade efficiency than the "too good to be true" percent before. I'm hoping to set this up so that I can test a variety of indicators and contracts quickly and with some confidence.

Thanks again wabbit.
wabbit  
#4 Posted : Sunday, May 17, 2009 10:33:03 PM(UTC)
wabbit

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jimh wrote:
Thanks again wabbit.

Glad it all worked for you.


wabbit [:D]

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