Should I set up a BUY STOP pending order OR should I let the code check the price at every tick and BUY MARKET?

 

Hi:

In my EA code, at certain stage, I want to BUY MARKET when the price is so and so. I am not sure which way is better(more reliable, more solid):

1)using OrderSend() to set up a pending order

Or

2)let my code check the price at every tick, when it reaches the level, using OrderSend() to buy market right away. 

Are there really any internal difference between the two ways? 

Thank you very much. 

 
  1. Buy Stop is useful for the human, they can't be at the terminal watching every second, and are slow to enter.
  2. EA's are not. Unless you are scalping (or news trading) where the (communications) delay entering the market is significant just use market.
  3. There's also the consideration of entering a limit/stop and then loosing communications. In the market but no control.
 
WHRoeder:
  1. Buy Stop is useful for the human, they can't be at the terminal watching every second, and are slow to enter.
  2. EA's are not. Unless you are scalping (or news trading) where the (communications) delay entering the market is significant just use market.
  3. There's also the consideration of entering a limit/stop and then loosing communications. In the market but no control.


Thank you for your reply. Sorry for not clarifying: yes, my EA is doing news trading(just regular each day medium and high impact news, not Non Farm Payroll dramatic news), so at those moments, the price still could be moving rapidly.

I am still unclear which way to do, both are using the code:

1) using EA code OrderSend() to set up a BUY STOP pending order

or

2)check the price at every tick and  also using EA code OrderSend() to do BUY MARKET

Reason: