Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I have a strategy where the entry logic is RSI > OverBought for long and RSI < OverSold. If I use "crosses over" and "crosses under" respectively, no trades are generated for some reason. If the price reaches my profit target or stoploss level and the condition is still true, the system takes a new entry. How can I avoid these re-entries? What I want to achieve is only one entry per new signal.
Thank you very much in advance!
Can you help answer these questions from other members on NexusFi?
Crosses over and Crosses under should work. I bet there is something else hindering signals. Please post non-proprietary portions of your code, along with a chart showing what is wrong. Or, print out values of RSI, Oversold and Undersold after each bar, and see if the data shows cross over and cross under.
This says to place a limit order to buy at the open of the current signal bar. So, if the price of the next bar never goes below the open of the signal bar, no fill will occur.
But is there a way to use limit orders instead of market orders? The spread is so big it eats the profits before you even enters the trade......
Also, if I should use the "larger than" respectively "smaller than" instead of crosses over/under: Is there a way I can avoid re-entries in the same direction on the same entry signal?
1. If the spread is so big, maybe you should not be trading it. Big spreads grind you down, even if you only have then on stop orders.
2. To take it a step further, ALL your test results with limit or stop orders are invalid. It is because you are only using bid data to evaluate your strategy. Quick example: Assume the bid hits your buy limit, but the ask doesn't. Your strategy will show a fill, but not the real world. Think about this for awhile - it is a critical point. SUPER critical.
3. Crosses above and under should work. For a cross above to be triggered, it has to cross below the same line. The logic will need to be different if you want to ensure long - short - long - short.
Because of the reason I describe in point 2 above, when I do Forex development, I ONLY use market orders. No stop orders, no limit orders.
Of course, I work in Tradestation. Multicharts has an option to test with both bid and ask data, so limits and stops are probably OK there. I am not sure of Ninja.
