Rank: Member
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Joined: 4/13/2011(UTC)
Posts: 15
Location: Manchester, UK
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Hi all,
I hope I've put this in the right part of the forum - my first post, having purchased MetaStock about a month ago.
I'm slowly learning to code my own tests, but at the moment, in the "orders" tab of the test results, I keep getting a lot of orders with the "Cancelled - Open Cost" message.
I can't seem to find what this means in the Help file. Can anyone help explain what this open cost is?
Thanks.
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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Rank: Member
Groups: Registered, Registered Users
Joined: 4/13/2011(UTC)
Posts: 15
Location: Manchester, UK
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Hi Wabbit,
Thanks for the signpost. I've a much better idea now on what the message means - I now have to work out why I'm getting it!
I'm testing on commodities and currencies, so I'm guessing it has something to do with that.
More studying to do...!
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Rank: Advanced Member
Groups: Registered, Registered Users, Subscribers, Unverified Users
Joined: 10/28/2004(UTC)
Posts: 3,111
Location: Perth, Western Australia
Was thanked: 16 time(s) in 16 post(s)
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There are a LOT of "it depends" conditions....
One way to defeat the "open cost error" is to use a pending order set for tomorrow's opening price; on the bar when the entry signal is generated, the EST will look forward to the next day and use the OPEN price when computing how many units to purchase (it doesn't take into consideration commissions) so when "tomorrow" actually comes around the EST will enter the trade without exceeding the amount of available capital...
...but as I said, it depends on a lot of other things being right too.
wabbit [:D]
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Rank: Member
Groups: Registered, Registered Users
Joined: 4/13/2011(UTC)
Posts: 15
Location: Manchester, UK
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Thank you again. The money management side of things is causing me some confusion at the moment, so this is helpful.
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