Can someone please explain entry type 2? If I want to sell today on a 10 pip pullback (10 pips above the market), do I set the offset at 10?
Mark's Example 2:
EntryType = 2 EntryPipsOffset = -15 LimitOrderExpirationHours = 2
if there is a signal, the EA will place the limit order 10 pips BELOW the current price. This means that it will wait for the price to pull back at least 10 pips for the entry. The limit order will be active only for 2 hours.
Mark's Example 2:
EntryType = 2 EntryPipsOffset = -15 LimitOrderExpirationHours = 2
if there is a signal, the EA will place the limit order 10 pips BELOW the current price. This means that it will wait for the price to pull back at least 10 pips for the entry. The limit order will be active only for 2 hours.
set the offset to -10 for a limit order. (+10 would be a stop order, which you don't want.)
Mark just told me that the setting should be 10 (not -10) for a pullback on shorts. Are you sure?
Ivan
I am sure. You can test for yourself. Run a backtest with -10, and you will see only limit (pullback) orders in the results. Run a backtest with +10, and you will see only stop (breakout) orders.
Cheers.
Blackstick
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No trade for me. Took a dive at 0629.
Good luck to you.
cheers, going to need it lol
thruster9121
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Me too, -45! I would imagine the 200+ pip drop had something to do with the unexpected news of the GDP quarterly report this morning
I really should stay out of trades during these financial diary dates...
I really should stay out of trades during these financial diary dates...
If you're into Forex Robot Trading I will recommend you to check the Real Money Accounts Competition at www.forex-robots.com, there you may find a robot that suits you.
Regards
Regards
stevechelt
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Full stop for -40 on Alpari UK live