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vgoklani
2010.11.23 22:10
Hi, I'm curious, when (or rather how) do you choose to open a Pending STOP order vs a Pending LIMIT order? |
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zzuegg
2010.11.23 22:12
maybe you should read about the basics.... you have to use STOP or LIMITS depending if you want to place the order above or under the current price //z |
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vgoklani
2010.11.23 23:08
I know that, my question is more about strategy...
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zzuegg
2010.11.23 23:16
i use stops in breakout strategies and limit in trendfollowing and rangetrading strategies
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vgoklani
2010.11.24 04:16
Thanks for the tip! Just curious, how do you distinguish between breakouts and trends? I have been using the slope (i.e. the velocity) of the Volume-Weighted-Moving-Average (VWMA) as an entry-condition, so the EA BUYs if the slope is positive, and SELLs if the slope is negative. It works fairly well except at the very top (or bottom) of the trend, so I use the volume as an indicator for the end of the trend. This strategy works fairly well in trends, but it needs to be refined for breakouts.
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WHRoeder
2010.11.24 23:24
A limit will buy/sell at that price or better. a stop becomes a market order when market reaches the price. If you open a buy limit at 1.5 and the current price is 1.3 it will open immediately since 1.3 is a better buy price. If you want to buy at 1.5 and the current price is 1.3 a buy stop will wait until the price reaches 1.5 and then becomes a market order. |
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zzuegg
2010.11.24 23:33
vgoklani: Thanks for the tip! Just curious, how do you distinguish between breakouts and trends? I have been using the slope (i.e. the velocity) of the Volume-Weighted-Moving-Average (VWMA) as an entry-condition, so the EA BUYs if the slope is positive, and SELLs if the slope is negative. It works fairly well except at the very top (or bottom) of the trend, so I use the volume as an indicator for the end of the trend. This strategy works fairly well in trends, but it needs to be refined for breakouts. My breakout strategy places only trades after a sideways market. they are easily to spot if you only need to now that price WAS ranging... //z |
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moreyummy
2011.03.05 09:56
zzuegg: you need some practice to see it. any advise?My breakout strategy places only trades after a sideways market. they are easily to spot if you only need to now that price WAS ranging... //z |