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ASIA UJ 618 LIMIT ATRLast call for UJ shorts going once, going twice... Playbook Setup: 618 Sell Limit Active Probability of Success: 50% Last entry for Asia session and it lines up with our bias from prior playbook setups (although we try to treat each and every opportunity independent of other ones). KEY POINTS - Maximum risk exposure met(3R) for ASIA so we will set SL and TP orders and check back in during London. - Be aware as a trader and risk manager that this is a game of probabilities and there is a very real probability that when we check back in during London, we may be down 3R if all trades go to shiiiiish... In this instance, the worst-case scenario is accepted (psychologically) so therefore we have entered the last position of the night and will be clocking out as soon as this idea is posted Our job here is done, the rest is on the market. May the odds be ever in your favor
Short
by USA_Capital_Funds
ORDER TYPES IN TRADING | LIMIT VS STOP ✴️Types of orders in trading There are two main types of order: entry orders and closing orders. An entry order is an instruction to open a trade when the underlying market hits a specific level, while a closing order is an instruction to close a trade when the market hits a specific level. ✴️Stops vs limits A stop order is an instruction to trade when the price of a market hits a specific level that is less favourable than the current price. On the other hand, a limit order is an instruction to trade if the market price reaches a specified level more favourable than the current price. ✴️Stop orders explained You can use stop orders to close positions and to open them, by using either a stop-loss order or a stop-entry order. ✴️Stop-loss orders A stop-loss order is the common term for a stop closing order – an instruction to close your position when the market value becomes less favourable than the current price. ✴️Stop-entry orders A stop-entry order enables you to open a position when the market reaches a value that is less favourable than the current price. If you were opening a long position, you’d place your stop-entry order above the current market price. And if you were opening a short position, you’d place your stop-entry order below the current price. Although it may seem strange to open a trade at a worse price, stop-entry orders can enable you to enter a trade once a trend has been confirmed. This helps you take advantage of market momentum. ✴️Limit orders explained Like stop orders, limit orders can be used to open and close trades. ✴️Limit-entry orders A limit-entry order enables you to enter a trade when the market hits a more favourable price than the current price. For long positions, this would be below the current price level and for short positions this would be above. ✴️Limit-close orders A limit-close order enables you to close a trade at a more favourable price – which would be at a higher level for a long position and a lower level for a short position. The major drawback of a limit order is that there is the possibility it will not be filled if the market never reaches your order level – in this case the order would expire. If you had placed a limit-entry order, it is possible that your trade would never be executed. And if you had placed a limit-close order, your trade would not be closed automatically. 😊Thank you for reading, guys😊 ❤️Please, support our work with like & comment!❤️ What do you want to learn in the next post?
OANDA:XAUUSDEducation
by UnitedSignals
5
LONDON UJ LONG 618 LIMIT ATRAfter dropping more than 100 pips in such a short time, USDJPY is destined to fall to its death right?.. well, not exactly.. HIGHER TIMEFRAME ANALYSIS SUGGEST THE BREAK OF A DOWNTREND WITH PRICE FALLING SHARPLY TO THE 618 RETRACEMENT LEVEL OF THE HUGE IMPULSE MOVE MADE LAST WEEK. I KNOW, I KNOW.. BASED ON LAST SETUP, WE ARE SUPPOSED TO BE DONE FOR THE NIGHT, AND POSSIBLY FOR THE WEEK. HOWEVER, USDJPY HAS MADE AN OFFER WE JUST CANNOT REFUSE AND BECAUSE OF THAT, HAVE DECIDED TO ACT QUICKLY AND TAKE ONE OF OUR PLAYBOOK SETUPS USING OUR PROPRIETARY ATR FOR SL PLACEMENT ( in this case 30 PIPS). Even if we are wrong, our prior gains allow us to spend 1R to be part of this potential opportunity to at least double our risk. now we wait, and see probability in action, in real time... PROBABILITY for success: 50%
Long
by USA_Capital_Funds
1
Q&As: order bookThere are people who trade based in order book exclusively & promote these so called orderflow trading platforms, even these days. Surely, it's a great deed to learn this interesting, exotic & unusual skill, but the thing is it's completely unnecessary. The real use cases for DOM aka LOB aka order book aka Level 2 data are mitigating adverse selection, reducing market impact & spotting potential counter agents. If you think deeper, all these issues are really all about position sizing and nothing else, you can operate as big as it's possible (depending how much diminishing returns you can let go), and the only thing that can help you figure it all out is order book. The one & only principle of orderbook analysis is to understand where's us (operators), and where's them (ones who just need to be filled), be nice with yours & be a nice counter agent for them. It's very simple, clients place big orders that immediately stand out. Everything else is us, we're spreading our orders equally all around the book. For some reason not many think about it, but as a maker it's good to not only provide liquidity aka make the market, but also to consume these huge limit orders if it lets you to offload some risk or to open a position if the prices are good. By doing so you always make the market better, the faster and in more clear fashion the market activity is unwinding - better for all of us. If you look at order book histogram and imagine it turned horizontally, you'll see peaks & valleys. So being inside a loading range (past a level) or nearby risk offloading areas (predetermined exit areas), you spread your limit orders the way they kinda fill these valleys, and you can also use market orders to kinda smooth the sharp peaks in order book. That's how you reduce your market impact.Your impact will start being too high when by filling the valleys you'll be creating new peaks, and by smoothing peaks you'll be creating new valleys. Easy enough? All the wise-ass reinforced learning & stochastic control models will output the same behavior, just a bit worse because they'll never defeat your "feel". They way you can process a feedback loop, as an organic, is DOPE. By monitoring your position in the queue you can decide to replace some limit orders that sit deep to somewhere where probabilities won't be your enemies. If you're not in the first 5% of the queue at these places, your're prone to adverse selection. Closer you are to the front of the level, the worse position in the queue is ok. Negligible but stable adverse selection has a huge negative long term impact, should be taken very srsly. In theory, it makes sense to care about order book as soon as you start trading more than 1 lot or if 1 lot is already a serious size on a given instrument. In practice, when you notice a statistically significant drop in revenue per lot on a given instrument, minding all other factors are equal, it's time to open dem books.
LSE:DOMEducation
by gorx1
🟢STOP AND LIMIT ORDERS EXPLAINED🟢 ✴️Types of orders in trading There are two main types of order: entry orders and closing orders. An entry order is an instruction to open a trade when the underlying market hits a specific level, while a closing order is an instruction to close a trade when the market hits a specific level. ✴️Stops vs limits A stop order is an instruction to trade when the price of a market hits a specific level that is less favourable than the current price. On the other hand, a limit order is an instruction to trade if the market price reaches a specified level more favourable than the current price. ✴️Stop orders explained You can use stop orders to close positions and to open them, by using either a stop-loss order or a stop-entry order. ✴️Stop-loss orders A stop-loss order is the common term for a stop closing order – an instruction to close your position when the market value becomes less favourable than the current price. ✴️Stop-entry orders A stop-entry order enables you to open a position when the market reaches a value that is less favourable than the current price. If you were opening a long position, you’d place your stop-entry order above the current market price. And if you were opening a short position, you’d place your stop-entry order below the current price. Although it may seem strange to open a trade at a worse price, stop-entry orders can enable you to enter a trade once a trend has been confirmed. This helps you take advantage of market momentum. ✴️Limit orders explained Like stop orders, limit orders can be used to open and close trades. ✴️Limit-entry orders A limit-entry order enables you to enter a trade when the market hits a more favourable price than the current price. For long positions, this would be below the current price level and for short positions this would be above. ✴️Limit-close orders A limit-close order enables you to close a trade at a more favourable price – which would be at a higher level for a long position and a lower level for a short position. The major drawback of a limit order is that there is the possibility it will not be filled if the market never reaches your order level – in this case the order would expire. If you had placed a limit-entry order, it is possible that your trade would never be executed. And if you had placed a limit-close order, your trade would not be closed automatically. 😊Thank you for reading, guys😊 ✅Like and Subscribe for more education✅ Do you like this post? Do you want more articles like that?
Editors' picks
Education
by ProSignalsFx
38
Advanced limit order swing trading strategySo if you haven't read my other writeups first, you probably should. Non-speculative limit orders are the basis for this trading style. Now, the idea behind this system is simple. You're using a script, EA or bot to create dozens of limit orders very quickly, with predetermined stop losses and take profits, to capture swings against active trends. See a trend. Any trend. Are the candles going up? It's an uptrend. Are they going down? Downtrend. In this trend, you want to identify momentum candles that have a wick. I'm not talking about hammers, I'm talking about candles that close with momentum in the direction of the trend, but just happen to have a wick that's at least 5% the length of the candle body. When you see this, you're going to place a limit order cluster above (or below) that wick to counter-trend it. As the trend continues upward, you might see more wicks like this, and you're going to do it again. And again. And again. The pic above shows an 18 pip range of limit orders getting filled, with limit order grids being stacked on top of wicks. This can definitely be considered Martingale-like, so you obviously want to be careful with how much you're risking. If 12 orders are each valued at 0.01, and your stop loss and take profits are both set to 30 pips, then that means each individual limit order is worth $3 and totals to $36 profit or loss. Your take profit structure can be greater or lower than the 1:1 ratio, as this is just an example and it's something you would have to backtest and figure out for yourself. However, stacking grids to catch a swing can be highly rewarding. It's possible every ticket of your lowest grid hits its SL (although I'd say pretty unlikely as long as you're spacing is good for the currency pair), but every grid you stack up on top of that will greatly increase your odds of winning. i.imgur.com i.imgur.com This is how it would look in practice. The limit orders are based off of these wicks: i.imgur.com Every time I see a wick in that uptrend, I'm selling into it. My limit orders start 5 pips away from the top of the wick. I click "Sell limits" and I'm ready to go. I'll leave a link to my EA (for MT5) at the bottom. I cannot stress enough that you would have to really backtest this and get comfortable with whatever currency pair or asset you're trying to trade, because it's important. And always bet small when you do this! This is about trying to make money regardless of market conditions, not trying to bet big and win big. If you have a $1000 account, maybe risk $20 per grid (grid meaning every individual cluster of limit orders). No one can tell you how to manage your risk obviously, but losing shouldn't be a big deal. My MT5 EA: mega.nz My settings for a 3 minute EUR/USD char
Education
by WinkleTrades
Trade setups I would take and how to manage riskJust like this. Buy and sell limits above and below structure, as in the most recent highs/lows, with your TP in general being a return to structure. Brutally easy way to scalp and make money. Few more examples... This one shows where the stop loss might be. In general, I go with a 2/3 or 3/4 type rule, where I'll have a wide cluster of limits, then a gap, then a hard stop that closes all of them. Just in case. Your order clusters should be wide enough with this strategy that it almost never gets hit. Regular market movement should not be hitting your stop loss. That kind of behavior should generally be reserved for news events that catch you off guard. Now as far as actual risk goes, this is entirely determined by you and no one else. There's no single correct way to do this. A lot of people are dead set on the idea that you should never risk 10% of your account, but how big is the account? Is it $10,000? Is it $100? If it's $100, why not risk $50+ when the odds of a loss are very low? On EUR/USD, you might have a hard stop loss of 50 pips with 15 tickets separated by 2 pips each. Each ticket would be 1k (0.01 lots). If 1 pip on a 1k is $0.10, then a 50 pip stop loss is $5. Your second ticket is 2 pips away, so that loss would be $4.80. Third $4.60, and so on. It's doable, right? Maybe the price dips 20 pips into your counter-trend limit cluster, eating 10 limits. Then the price returns to the support or resistance near your starting point, and you decide to close all of your tickets. The profits from that would be $2.00, then $1.80, then $1.60, and so on. That might not seem like much in comparison to the stop loss, but consider this: your stop loss will have a 0-5% chance of ever getting hit. It's straight profit. And it's constant, and consistent. I cannot stress that enough! You can be doing this all day long. So, what if you want to follow a trend in this manner? It's the same deal, really... just throw limit orders below (or above) trending wicks. Like this: It's all just structure. You bet with structure, and you bet against structure. At all times. You only require a 50% retracement from your starting ticket in order to break even. If you even feel uncomfortable with what's going on in front of you, it doesn't take much for you to get out safely and start over with a new cluster of limits. There is absolutely nothing wrong with closing out safely. You'll be trading so frequently you aren't even a little bit obligated to let things "play out". Maybe you don't like how quickly the momentum built into your cluster, and it retraces down to the 50% area so you wanna break even, but then you start laying more limits above and below because you believe that momentum is likely to slow down. I'm gonna tear down a phrase that I'm sick of hearing: the trend is your friend . The trend could be the worst friend you've ever had. Sometimes he's really cool, and he's the life of the party. But he really likes hanging out with you, especially when nothing is going on. He really likes to wait! He doesn't exactly value your time, and he's perfectly content sitting in a chair next to you watching paint dry. He smacks the remote out of your hand when you try to turn on the TV. This trend guy can be a real jerk sometimes. You also suspect he might be bi-polar, because sometimes when you get excited to do things with him, his mood shifts the moment you open your mouth and suddenly the fun has been sucked out of the room. That is the trend. On some pairs like USD/JPY, a trend can go on for a very long time, and there's a lot of money to be made. The problem is it is speculative . You don't know where that trend is going to end. Nobody is clairvoyant, and most people will make incorrect guesses. If you simply remove this requirement of speculation, where you have to be "correct" in your guesses in order to make money, you will do better in almost any market. If your goal in trading is to make consistent money, then the trend is not your friend. He's an acquaintance at best. You have to associate with him in business and that's about it. You spend just as much time associating with the counter-trend, because you should be doing business with both of them constantly. Now, on the other hand, if your goal is to invest (AKA gambling), that's a separate concept entirely. You're trying to grow a tree from a seed when you invest, and there's nothing wrong with that. But most people cannot live off of it. You can't even order pizza with your investments until they come to fruition. A trader can make consistent money every single day, without knowing or caring where the market is going or what it's going to do. Price continues trend, price retests, trader makes money. Price reverses, price retests, trader makes money. That's it . No waiting for retarded "key support levels", no waiting for "confirmation", no speculation, no technical analysis. Just raw risk management, getting in and out of the market quickly and constantly. Now, the one downside to being this kind of trader is you generally can't do this easily with the basic tools provided by your platform, meaning you would need scripts, EAs or whatever in order to quickly deploy limit clusters. The tool I'm working on allows me to drag a horizontal line on the screen, and I have a panel of buttons that do interesting things. I can click "Sell limits" and a whole bunch of sell limit orders appear just above the line. I can move that line again and click "Adjust TP", and the take profits for all of those orders will appear right below the structural retest point I'm targeting. I have buttons to close profits, to close pendings, close all tickets... it's just the bees knees. This is an MT5 EA, which most people won't be using, but I trade on CryptoAltum so that's what I use. I will leave it here for free. Lastly, have some limit order porn. Every single rectangle is a place where you could've had limits that got filled and made money. On really strong trends, you might notice that the retracement only returns to around the 50% point of your limit cluster, but you'll notice how uncommon that is and how easily you could've gotten out with little to no loss. A lot of the time, I won't even restrict myself to structure (swing highs and swing lows) even though that's the most reliable way to do it. I'll literally just put limits above and below any wick because I feel like it and I can make a profit in all likelihood. ...Anyway. I hope you enjoyed this write-up. Leave a comment if you did, or have any questions!
Education
by WinkleTrades
The easiest way to make money tradingI'm going to show you one of the simplest, and most effective ways to trade. Period. Just about every other type of trading is speculation; this is not. This is making money regardless of where the market goes, and you don't even have to have a clue as to what the market is going to do next. I repeat: you do not need to know where the market is going to make money . In these pictures, every rectangle represents a cluster of small limit orders getting filled, with the anchor point (starting place) being a wick rejection. That's it! You'll notice that in almost all of those cases, the retracement from the limit block exceeds 100%, meaning 100% of the limit orders in that block are profitable. You only actually need to see the price retrace by 50% of that block to break even. This is why I laugh when people say "the trend is your friend". The counter-trend is your friend too. The market is your friend. You don't have to know where the price is going, and you can make money in either direction as long as you're placing your limit orders in a way that goes with the flow. You're trying to capitalize on liquidity 100% of the time, and liquidity is really, really common. You can literally place trades based on every single candle if you want to! If there is a wick, you can trade it. Even if you're wrong, having tiny limit orders spread out through a cluster based on that wick means your hard stop loss would be hit rarely. You should still definitely have a hard stop loss, just in case a doomsday scenario comes. So imagine you have a $2000 account. On a 1k (0.01 lot size), 10 pips is $1. Let's say you have 100 limit orders, separated by 1 pip each. 50 of your limit orders get hit, and then the price retraces by 50 pips. Given that your average entry point would be 25 pips (the halfway point), you would have made 25 pips profit on a 50k, meaning $125 profit on a very high probability trade. In those pictures, even the big moves don't hit all 100 of your limit orders, not at once. Not even 50 all at once. I'm not saying that doesn't happen obviously, but the probability of it happening is very low in relation to how frequently you'd be making profitable trades. So what you do is you either commission a script or write your own to deploy all these limits very quickly. I'm currently having one commissioned for me in MT5 which works very well. I can drag a horizontal line that serves as an anchor point, deploying x amount of limit orders with y distance between each other, z order sizes (0.01). I can even have them all share the same stop loss and take profit, or have SL/TPs a specific distance from each individual ticket. I'd show this stuff here, but TradingView doesn't like pictures coming from the outside. If you use metatrader 5 and would like my tools, feel free to message me. I'm not sure if I can edit this later, but I hope I can... I tend to rethink things a lot and hate having to finalize something. Anyway. I hope this helps.
FX:XAUUSDEducation
by WinkleTrades
10
Things you should consider in trading to make it as a career Hello everyone: 6 points I like to share on what you should consider in trading to make it as a career. 1. Trading is not a get rich quick scheme Contrary to what social media, scammers, fakers and fake trading gurus want you to believe, trading is NOT a get rich quick scheme. Those who believe such usually end up over trading, over leverage, blow accounts and give up. (Trading is actually a reasonable method to yield money return. It is how consistent traders make a return on their original investment/deposit with proper risk management, strategies and methods. ) 2. Technical/Fundamental Analysis dont work all the time. Trading ANY sort of strategy, method or style will always have a percentage of failure and losses. Its probability, not right or wrong. The main goal in trading is to make sure you have proper risk management, good Risk:Reward ratio, and look for consistency, sustainability in the long run. (Sometimes traders blame their strategies, method, style, mentor and other things due to their trades not working out. Not trading strategies can yield 100% strike rate, if there is, there will not need any risk management, and anyone trader should get rich) 3.Limit your risk per trade Proper risk management is super crucial to a trader’s success. Many traders often risk way more than their accounts can handle, after all what's 10%-20% of a $100 to many people ? But would you risk 10-20% on a $100,000 account ? and lose $10,000-$20,000 in one trade ? (Too many new traders deposit a small amount of money hoping it can double and double and double. But they often over risk, over leverage the account. The result is it only take a few trades to totally blow the account up.) 4.Must use stop loss It may have worked out for you a few times where you remove your SL, and the price reverses and you close with profits. But what if the price goes against you more and more? Can you stay mentally sharp enough and continue to hold the trade when the losses pile up more and more ? You more likely can not, which will end up resulting in a margin call and/or blow the account. (In the past I had a trader who approached me and showed me his losses on OIL where he removed his SL and price continued to go against him. IT has come to a point where he reaches margin call, and the broker actually open opposite positions to “hedge” his losses) 5. Don’t over analysis and combine multiple trading strategies, methods and style Over analysis and complicating your charts may lead to confusion and is not necessarily efficient. Most trading strategies do work on their own, but when combined with so many other strategies, it creates conflicts, contradiction and confusion for traders. (Often traders combine too many random indicators, S/R, trendlines…etc all on one chart. It makes it hard to analyze, and have a bias of the direction of the market) 6.Always use a top-down analysis approach. Multi-time frame analysis is key. Always start from the higher time frame to the lower time frame. The higher the time frame the stronger and noticeable the price action it is. Understanding a higher time frame can give you a possible direction and bias. While the lower time frame will be your confirmation and entry. (Have seen many new traders jump onto the 1 min chart to trade. While there are successful scalpers with proper years of experiences, good trading psychology and emotion, most newcomers will not be able to handle the stress and pressure from it. ) Don’t give up
OANDA:XAUUSDEducation
by jojofang0901
35
a short term long for your long term shortthis one is for the gutty. i am projecting the weekly candle to draw a higher up-wick, before closing around the mid 26xx region. such a close would mark the continuation of the short to 13xx in my aforementioned post(s). trigger at 239x, triggered limit at 254x target - 29xx position at target - full close taking short entry trade with caution anything i post is at the very best, just an idea. it is not a suggestion for what you should do with your money, it is an archived entry of what i am doing with mine. any further correlation between our trades; including profit(s) and loss(es), is solely coincidental. my content is not intended to be interpreted as financial advice.
Long
by BingoMoney
3
BITCOIN Retest And Up! Buy! Hello,Traders! BITCOIN seems locally bearish, but bullish long term Which means that the price might retest the key level below From where I am expecting a rebound and bullish continuation Thus,I would recommend setting up buy limit orders Slightly above the support, to account for the rapid BTC moves This will allow you to get into the long at a great price BUT, remember to place an SL below the level as well Because in the unlikely scenario of a bearish breakout You will suffer heavy losses without SL! Buy! Like, comment and subscribe to boost your trading! See other ideas below too!
BITSTAMP:BTCUSDLong
by TopTradingSignals
6
How to trade our signals without sitting at your computer? 🌐How to trade our signals without sitting at your computer? 🌐 When you want to trade, you can choose from at least two types of orders: market order or limit order. - Limit order: The limit order has at least two parameters - target price and amount -, and the exchange fills your order if and when the market price meets your target price. - Market order: The market order has at least one parameter - amount, and fulfills instantly at the actual market price as soon as you put it on the exchange. Besides the number of parameters and the execution time, a third, very important difference between limit and markets orders is the fee because limit orders are much more cost-efficient than market orders. So, we always put entry prices, target prices, and stop-loss prices in our ideas, and when you trade them, you can put limit orders at the given prices, and thus, you don't have to sit at your computer because you build the setup and the rest happens hands-off.
BITSTAMP:BTCUSD
by Elysian_Mind
1
✅GOLD TECHNICAL ANALYSIS|BUY LIMIT🚀 🏛GOLD broke the support level and collapsed Until the price hit a MASSIVE support level Then we saw a pullback and a retest of the broken level And now Gold is stuck between the two levels I think that Gold will stay in the range for a while But I now have my buy limit orders around 1675 level So If the price retests the support again, I will have a chance to buy However, if you place a buy limit too, don't forget to place SL too Because the move down can be rapid if breakout happens LONG🚀 ✅Like and subscribe to never miss a new idea!✅
OANDA:XAUUSDLong
by ProSignalsFx
9