TNA got stopped out flat today. The system will try to long TNA again, set TNA buy stop at $47.32, stop loss around $36.44.
The system will try to buy oil tomorrow. Set UCO buy stop at $43.54, stop loss around $37.62. This is a pyramid position.
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I thought this research project is long when today has higher higher, higher low, closed higher than yesterday’s close. Buy stop = today’s high+0.02. No? As such, TNA wouldn’t long today, because today is LH, LL, closed down. In fact, it’s short. I must understand wrong. Please clarify. Thanks.
The signal doesn’t care about LH/LL or reversal bar, as long as the next day (12/08) has a higher high (today’s high + 0.02) then it’s long on TNA. For the system to consider short it has to consider some other conditions. Buy on breakout above the previous day high is just a trigger or I shall say, the final confirmation for long.
Ok, so LH/LL/LC does not cancel out the long. But isn’t the long signal: if Day 1 HH/HL/HC than Day 0, then set buy stop = Day1 high+0.02, and then if in Day 2 the buy stop is triggered, then a position is taken? Or is it simply if Day 1 HH than Day 0, it’s long (“as long as the next day (12/08) has a higher high (today’s high + 0.02) then it’s long on TNA”)? But even so, that signal is based on 12/7 prices, and 12/7’s high is not higher than 12/6’s high, how come “The system will try to long TNA” with a buy stop at $47.32, which is 12/6’s high+0.02. I’m confused.
Sorry I’m not sure if I understand your confusion correctly, so forgive me if my answer is totally irrelevant.
The system has it’s own buy/sell condition. Once the condition triggered, it relies on buy stop to fill the position which you can see as the final confirmation. So HH/HL/HC is not the underlying buy condition, it’s just a final confirmation.
So, let’s see the buy triggered on 12/07, and in 12/07 report I’d say, put a buy stop above the 12/07 high. On 12/08, if we have a higher high then the buy stop would be triggered. If on 12/08 we don’t have the higher high, then this buy condition is no longer valid. In 12/08 report I’ll give perhaps another instruction to buy or sell based on what system says.
Oh, so HH/HL/HC is not your long condition? I saw it mentioned several times and thought it is. That’s where I got confused. Thanks for the explanation.
Could you point me to the place where the system/conditions are explained?
Thanks, but the conditions are not explained. I’m finalizing the back test now, will soon show back test result so that you all know the signals have some solid background but I won’t explain how signals are generated.
That’s cool.