the exit block piece — why is give-back below the target?
So I read that exit rules piece in the strategy library, the one that says paste this block under whatever entry you're testing before you touch anything else. And annoyingly, for once, I don't have much to fight about. Five ways out, checked in order, session close first because it's the one exit that isn't up to you. Fine. Good. I've spent years telling people their entry signal is decoration and their exit is the actual strategy, so nice to see it in writing.
My actual question is about the ordering, since the article makes a whole point that the order IS the design.
The give-back branch sits below the fixed target. Which means a trade that ran nicely, then rolled over, still has to fail the target check first before the give-back can look at it. In practice I get that they rarely collide, but conceptually it bugs me: if I'm honest about what I believe, the trade that peaked and is now bleeding back is a *different animal* from the trade that's grinding up toward a number I made up in advance. Wouldn't a purist put the give-back above the target and let the target be the thing that catches the clean vertical moves only?
Second thing. The time cap is the last branch, described as the backstop for a trade that does nothing. I've been running something like that manually for ages and my experience is the time cap fires way more often than I expected when I actually counted, a lot more than I assumed. Which makes me wonder whether it's really a backstop or secretly the main exit and everything above it is theatre.
Anyone tested swapping branch order? Or is this one of those things where you swap it, the results move a bit, and you've just curve fit yourself a new religion?