Please be aware that the MSST functions do not use the commission, interest, stop, etc. settings in MetaStock, but rather those same settings in SpyGlass.

In almost every way, the MSST options are designed to work exactly like the options in MetaStock (the differences between MSST and MetaStock are noted in red below).

Trade Price

Entry Price - Can enter on High, Low, Close, or the Next Open. The Next Open setting behaves differently than using a 1-period delay in MetaStock. In MetaStock, a 1-period delay causes the system tester to ignore any stops, exits, etc. on that day, which may cause a stop to be hit a day late. The MSST treats the trade as happening on the signal day, and will observe stops and exits on the following day.

Exit Price - Can exit on High, Low, Close, or the Next Open.

Commissions

Entry ($) - Commission amount, in dollars, to enter a trade, whether a long or short trade.

Exit ($) - Commission amount, in dollars, to exit a trade, whether a long or short trade.

Stops

Exit at Stop Price if Possible - Will exit the position at the stop price (e.g., 5% down from the entry price if you are using a 5% max loss) if that price was available that period. If the stock gaps above or below a stop price, the open price is taken.

Maximum Loss % - Will exit a position if the trade moves against you a certain percentage. If the security moves the stop amount any time during a trade, even if it closes above the stop, the stop will be triggered.

Profit Target % - Will exit a position if the trade gains a certain percentage. If the security moves up to the stop amount any time during a trade, even if it closes below the stop, the stop will be triggered.

Inactivity Stop - Exits a trade, no matter what, after a set number of time periods. This differs from MetaStock, which will ignore an inactivity stop as long as the security moves a certain amount.

Equity

Initial Equity - The dollar amount of equity at the beginning of a trade. This should be the amount devoted to any one trade, not the total value of your trading account.

Interest Rate - The interest your idle money will earn while not in a trade.