How do you use buy stop value? - General

paijolopez 2007.04.03 08:42 #181

Yes indeed using BUY LIMIT, I choose BUY STOP today and wait the pair to retrace down bellow the order then I will do BUY STOP order when the pair goes up again. this will bring you more safe trader and will avoid false signal that happen at first hit ( like if you use LIMIT ORDER )

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metastock 2007.04.03 09:14 #182

paijolopez:
Yes indeed using BUY LIMIT, I choose BUY STOP today and wait the pair to retrace down bellow the order then I will do BUY STOP order when the pair goes up again. this will bring you more safe trader and will avoid false signal that happen at first hit ( like if you use LIMIT ORDER )

Thanks! I agree your view......

Anyway I try to write EA but I have a doubt: buy stop valueis with spread value or without spread value?

For example: I have 3 pips spread on G/U and if you tell buy stop .9867 I must set .9867 or .9870?

I hope to write a good EA............

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paijolopez 2007.04.03 09:48 #183

Love your idea with EA, here my suggest, we are assume this EA based on MT4 platform, since MT4 use BID value as order entry, then

for BUY position you should adjust only TAKE PROFIT value according to the spread (4pips are common ) and for SELL position just adjust the STOPLOSS value.

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camisa 2007.04.03 10:35 #184

paijolopez (and not pablo ):

I don't understand, don't you enter a LIMIT ORDER AT 9767?

Or do you wait for price to come to 9767 and then BUY STOP at 9787???

I'm a little confused, sorry

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paijolopez 2007.04.03 12:09 #185

camisa:
paijolopez (and not pablo

):

I don't understand, don't you enter a LIMIT ORDER AT 9767?

Or do you wait for price to come to 9767 and then BUY STOP at 9787???

I'm a little confused, sorry

My trading plan at my blog clearly said BUY STOP, so you have to wait until price going down bellow order, and then when it retrace back up, then you just can do BUY STOP order there,

hope this help

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metastock 2007.04.03 16:31 #186

On my platform G/U for only 1 pip to TP, today -30pips

I hope for tomorrow

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camisa 2007.04.03 16:49 #187

paijolopez:
My trading plan at my blog clearly said BUY STOP, so you have to wait until price going down bellow order, and then when it retrace back up, then you just can do BUY STOP order there,

how much has price to go down bellow order to set STOP order?

paijolopez 2007.04.03 17:10 #188

TUESDAY 3 APRIL 2007

BUY STOP GBP/USD at(A)1.9767

take profit 1.9787

stoploss 1.9737

CLOSE LOSS -30 pips at 18.50

paijolopez 2007.04.03 17:13 #189

camisa:
how much has price to go down bellow order to set STOP order?

Depend on your broker MT4 platform, they will allowed you to make pending order with the distance 5 - 15 pips to running pair, so you should check your broker platform rules.

paijolopez 2007.04.03 17:22 #190

metastock:
On my platform G/U for only 1 pip to TP, today -30pips

I hope for tomorrow

I call this Lick n' Run, instead of Hit n' Run , it happen with mine too, at least we know where the pair have to move. just out of luck for today.

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