Pending Orders - Set and Forget Strategy

Trading Discussion
1

Hi all,

I have a busy job so trading during the day is out for me.
I am looking for a system / strategy whereby I can enter pending orders either at night or early morning that are triggered during the day.
Has anyone used such a strategy successfully?
Is there a strategy or website I can go to, to get trading ideas?

Many thanks,

Guy

2

Hi Guy, it is your first post so I will be nice :).

I have been working a lot with limit orders because I am in more than one instrument and I am a swing trader, so I do actually look for those extreme highs and lows. Some people will naturally say this is crazy but when you trade for a living you soon see the sense in it. There are times however when markets do trend so we must be flexible.

First off look into support and resistance on 4H and D or higher. The extreme levels hold. I also recommend reading HM Gartley and Scott Carney, also RN Elliott, a lot of Fibonacci you should also read Anna Coulling volume is always a supporting factor when working with limit or stop orders. Hopefully you find the answer.

Hope trading is not just a hobby for you because the above books will require some dedication to practically apply the concepts to a working strategy, if you are really busy to trade I suggest looking for someone you trust to trade for you (a professional of course). Good luck!

3

Here is a very well written article about Set and forget trading. Better reading this one.

Set and Forget Trading - When To Use It and When Not To - 2ndSkies Forex

4

set and forget?

something like this is basically what you’re asking for

here:

http://forums.babypips.com/free-forex-trading-systems/63342-parmar-3p-trading-system.html