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Sell or Cover at next days Open when Buy or Sell happens on same day
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Hi, I am at my wits end with trying to get a system test to work the way I want it to. I've tried just about every combination of Buy signals, Sell signals, etc. I also tried every combination of the General Screen and the Trading Options screen to get this to work and I just can't figure it out. Here's the issue I am having:
If a Buy or Sell Short position is met on a daily bar, I want to Buy or Short Sell at the Open the next day. That is fine and working.
Here's the problem I can't get to work. If a Buy is triggered on the day after a Sell Short signal or vice versa AND a Short Position or Long Position is open, I want to close either of those positions on the following days open. Here are dates of actual data I am using for ticker SAN.
2021-04-13 - Short Sell signal is triggered, bought at open on 2021-04-14, CORRECT 2021-04-14 - Buy signal is triggered, which will be bought on 2021-04-15 and I also want to Cover the Short Sell at the Open on 2021-04-15. The Cover closes on 2021-04-14 with a Limit order. I have no idea why. Same when a Buy is open and a Short Sell Order happens the next day. The Sell or Cover closes on the same day instead of the next days Open Price.
As you can see below MetaStock uses a Limit Order and Covers the Short Sell on 2021-04-14 instead of the Open on 2021-04-15.
I'm obviously missing something here. I've watched videos and changed every parameter that I can think of to make this work but I just can't get it to work.
I've searched the forum and Google but can't find the answer. If anyone could set me straight or point me to a post that would be great. Also, I know that you would most likely not want to get into an opposite trade the day after one was triggered but that's ok, I'll adjust it once I get this working. Thanks, another pair of eyes would be much appreciated!!!
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Bob Hanna Edited by user Thursday, March 23, 2023 7:10:22 PM(UTC)
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Originally Posted by: hannabob10  Hi, I am at my wits end with trying to get a system test to work the way I want it to. I've tried just about every combination of Buy signals, Sell signals, etc. I also tried every combination of the General Screen and the Trading Options screen to get this to work and I just can't figure it out. Here's the issue I am having:
If a Buy or Sell Short position is met on a daily bar, I want to Buy or Short Sell at the Open the next day. That is fine and working.
Here's the problem I can't get to work. If a Buy is triggered on the day after a Sell Short signal or vice versa AND a Short Position or Long Position is open, I want to close either of those positions on the following days open. Here are dates of actual data I am using for ticker SAN.
2021-04-13 - Short Sell signal is triggered, bought at open on 2021-04-14, CORRECT 2021-04-14 - Buy signal is triggered, which will be bought on 2021-04-15 and I also want to Cover the Short Sell at the Open on 2021-04-15. The Cover closes on 2021-04-14 with a Limit order. I have no idea why. Same when a Buy is open and a Short Sell Order happens the next day. The Sell or Cover closes on the same day instead of the next days Open Price.
As you can see below MetaStock uses a Limit Order and Covers the Short Sell on 2021-04-14 instead of the Open on 2021-04-15.
I'm obviously missing something here. I've watched videos and changed every parameter that I can think of to make this work but I just can't get it to work.
I've searched the forum and Google but can't find the answer. If anyone could set me straight or point me to a post that would be great. Also, I know that you would most likely not want to get into an opposite trade the day after one was triggered but that's ok, I'll adjust it once I get this working. Thanks, another pair of eyes would be much appreciated!!!
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Bob Hanna
Hello, Unfortunately the images did not come through, I believe the forum might be limited in this respect. It's possible that the trade could be executing due to a "Bias Change". One thing you could try through Editing your System is on the General tab. Specifically the "Portfolio Bias" setting. You can try changing this from "Single" to "Multiple" to see if this might help. If that doesn't help with the issue, you might need to try playing with the "Strategic Delay" option on the Buy/Sell/Sell Short/Buy to Cover Order tabs. If none of these help to resolve the issue, I recommend emailing our Support team. We would need screenshots of the Summary, Orders, and System tabs in order to analyze the issue. Support Contact Information can be found at https://www.metastock.com/company/contact.aspx Edited by user Friday, March 24, 2023 2:37:24 PM(UTC)
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Sell or Cover at next days Open when Buy or Sell happens on same day
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