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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December 8, 2011 at 8:46 am
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.
December 8, 2011 at 9:37 am
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.
December 8, 2011 at 1:28 pm
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.
December 8, 2011 at 1:54 pm
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 If on 12/08 we don’t have the higher high, then this buy condition is no longer valid.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.
December 8, 2011 at 4:17 pm
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?
December 8, 2011 at 4:21 pm
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.
December 8, 2011 at 4:57 pm
That’s cool.