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djarum11

Close Position at Specific Time?

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i would like the position to exit automatically at the close of the bar, to avoid any slippage from exiting manually. so far i do not see how it can be done however.

 

 

tell your broker

tell your computer system

use an alarm clock

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i would like the position to exit automatically at the close of the bar, to avoid any slippage from exiting manually. so far i do not see how it can be done however.

 

the only way you will really avoid slippage is to have a limit order waiting in the market.....however you dont know what the close of the bar is so this is impossible. All you can do is tell the computer to automatically close any open position on the close of the bar,

Here you have two choices......

close at a limit price of that bar - this runs the risk of not getting a trade and exiting the position OR

close at market and this will effectively close the open position at a market price which is likely to be near (give or take slippage) the open of the next bar.

 

To do this will depend on which system you are using.....

hence the cheek y answer i gave you origianlly as you need to provide more information for those trying to help you.

it will likely be a program command something like this.....

 

If openposition>0 then MarketExitonNextBarOpen

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.....however you dont know what the close of the bar is so this is impossible.

 

One of the advantages of using range bars - they always close at their high or low, and the high and low are always a fixed distance apart - hence the close of the bar is "predictable" as the bar forms. Dragging a limit order around the book to try and get filled at this level is probably no more likely to result in a filled order than any other method though.

 

Might be helpful, depending on what the OP is trying to achieve . . .

 

BlueHorseshoe

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i would like to exit at the open of the next bar of the current chart, or specify a time, with a market order.

 

i have not coded anything in OEC at all and am not a programmer. but i learn fast. can sone get me started? thanks

 

 

 

 

on a serious note now, the bars/candlesticks idea should do the trick

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djarum11 - OEC have a forum this question might have more chance of being answered quickly there????

I dont use OEC or programmed in it so cant really help you,

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could you please direct me to a complete code for this, or a similar template that i can plug your code into? i haven't worked with code in OEC Trader before at all, and am not sure where to start. do i need to import a script (like in Ninja)? if so i would like to find a similar script so i can edit the code and then create some kind of hotkey for this functionality. thank you

 

the only way you will really avoid slippage is to have a limit order waiting in the market.....however you dont know what the close of the bar is so this is impossible. All you can do is tell the computer to automatically close any open position on the close of the bar,

Here you have two choices......

close at a limit price of that bar - this runs the risk of not getting a trade and exiting the position OR

close at market and this will effectively close the open position at a market price which is likely to be near (give or take slippage) the open of the next bar.

 

To do this will depend on which system you are using.....

hence the cheek y answer i gave you origianlly as you need to provide more information for those trying to help you.

it will likely be a program command something like this.....

 

If openposition>0 then MarketExitonNextBarOpen

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could you please direct me to a complete code for this, or a similar template that i can plug your code into? i haven't worked with code in OEC Trader before at all, and am not sure where to start. do i need to import a script (like in Ninja)? if so i would like to find a similar script so i can edit the code and then create some kind of hotkey for this functionality. thank you

 

see my post number 9 - i dont use oec, or program in it.

try their site.

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    • Thanks for your suggestions man!! Our own decision surely makes us or breaks us. Thanks once again, buddy.
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