PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

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danigiu
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PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby danigiu » 23 Jan 2013

How to avoid premature exit due to market preopening price spike with buit-in % trailing stop signal?

I do daily training with Multicharts +IWbank Quick trade trough PEI and IWBANK provided market data, I use a daily strategy with your built in percent trailing stops, Italian Market opens at 09:01 AM meanwhile I turn on async autotrading around 7:45 AM anyway before leaving house to my regular job.
What I am complaining of and ask for some kind of help is that since I started using the built in % trailing stop signal almost all positions are closed by Multicharts immediately at market open because it takes in account profit spikes generated by preopening prices and send a trailing order before market opens, how is it possible to avoid that?
Hopefully my explanation was clear enough

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby JoshM » 23 Jan 2013

danigiu wrote:What I am complaining of and ask for some kind of help is that since I started using the built in % trailing stop signal almost all positions are closed by Multicharts immediately at market open because it takes in account profit spikes generated by preopening prices and send a trailing order before market opens, how is it possible to avoid that?

One way to do is, is to build in a check to only submit stop-loss orders a few minutes after the opening (so that the profit spikes aren't triggering the stop-loss).

In pseudo-code:

Code: Select all

if (Time > 9005) then
   // Submit stop here
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danigiu
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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby danigiu » 23 Jan 2013

Hi JoshM,

I will try that, my concern is that doing this I fear that at 07:45 AM the strategy will not generate any trailing on the chart (even past ones), so it will even not know if it is on the market or got out due to a previous trailing.

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby sptrader » 23 Jan 2013

Maybe you could write something that filters by % above or below the current price (to filter spikes)..
for example: if C < x % of average price and C > -x % of average price then begin
That way you only accept orders within the "Normal" price range.
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danigiu
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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby danigiu » 23 Jan 2013

Thanks Sptrader,

that could be also a way but I would have some difficulties to find out what should be the best % to use considering possible gaps. Anyway I believe the best would be a time filter but such should be active only for the current session not for the past, so I would like to ask Muticharts Team a feedback on this unless they can suggest a different solutions.

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby JoshM » 23 Jan 2013

danigiu wrote:that could be also a way but I would have some difficulties to find out what should be the best % to use considering possible gaps. Anyway I believe the best would be a time filter but such should be active only for the current session not for the past, so I would like to ask Muticharts Team a feedback on this unless they can suggest a different solutions.

You could also change your trading session settings and let your day start at 9:01 or 9:02. That way, the price spikes from the opening will not intervene with the calculations of your PowerLanguage strategies.
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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby danigiu » 23 Jan 2013

I did also that JoshM,

I set session beginning time 09:01 AM, does not change the behavior, dont know why.

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby danigiu » 23 Jan 2013

To better explain JoshM, order is executed at 09:01 but generated before, looks like the profit spike is anyway used to trigger the trailing.

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby Andrew MultiCharts » 23 Jan 2013

danigiu wrote:...I would like to ask Muticharts Team a feedback on this unless they can suggest a different solutions.


To tell the truth, all the best solutions have been already suggested here...
  1. Did you contact our support team in live chat or IWBank to find out if the source of the issue is their feed or not?
  2. Does it happen on all symbols on regular basis?
  3. What are the chart resolutions?

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby danigiu » 23 Jan 2013

Andrew,

1)no I did not contact your support team or IWBANK yet.
2)yes it happens on all symbols regularly
3)chart resolution is daily

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Re: PREMATURE EXIT WITH BUILT-IN % TRAILING STOP SIGNAL

Postby Andrew MultiCharts » 24 Jan 2013

Please follow next steps:

  1. Could you launch both MultiCharts and IWBank QuickTrade software at the same time with the same symbols to find out if the problem takes place only in MultiCharts or both programs? If this happens both in MultiCharts and in IWBank QuickTrade, please contact them directly to resolve the issue. If it happens only in MultiCharts, please make some screenshots demonstrating the difference between the platforms and follow next step.
  2. If the the problem can be reproduced only in MultiCharts, please send me (ashuvlenov@multicharts.com) your workspace with all problematic symbols and all those symbols exported from QuoteManager without data.


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