What's your preferred entry order type - market, limit or stop order, and why?

View Poll Results: What is your preferred entry order type?

Voters
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  • Market execution

    1 100.00%
  • Limit order

    0 0%
  • Stop order

    0 0%
  • Flexible

    0 0%
  • None

    0 0%
Results 1 to 7 of 7
  1. #1
    Join Date
    May 2016
    Posts
    631

    Post What's your preferred entry order type - market, limit or stop order, and why?

    Entry order can play a significant part in how a trader achieves consistent profitability or even failure to attain success given an efficient trading system or strategy. Beyond the theoretical pros and cons of entry order types, the traders' personality, trading style and the nature of trade setups, and even order flow context, among other factors may account for the entry order type a trader employs at any particular point or even on specific market instrument or asset. I am starting this thread for us to share personal experiences on the entry order types employed by BabyPips Forum members. This thread is not interested in theories or postulations on order types.

    Having a preferred entry order type does not preclude a trader from using another order type that fits specific setup, trade conditions etc; the preferred order type is basically what is mainly chosen in most of the trader's trades. I have my preferred entry order type and will talk about it and the reason I decide on it as we progress on this thread. I hope this thread runs for a good while, long enough to have a variety of opinions and experiences that we can summarize, perhaps later. I intend to open this thread on Forex Factory Forum and compare the results later across the two forums.

    Rules for Contributors:
    1. Only those who are trading live accounts should contribute. Please, do not post here if you do not operate a live account.
    2. Please, state how long you have been trading live when you post on this thread and before you share your experience.
    3. Take the poll attached to this thread as part of your contribution as it will be used later in summarizing the results we get from contributors.
    4. Please, note that there is no right or wrong answer, so do not denigrate any contributor or any post.
    5. Keep your posts to the point
    6. Be civil in your language and adhere to BabyPips' ethical code.

  2. #2
    scmonds Guest
    26 years in total. 10 in stocks the remainder forex.

  3. #3
    Join Date
    May 2016
    Posts
    631
    Very good. What's your preferred entry order?

    Quote Originally Posted by scmonds View Post
    26 years in total. 10 in stocks the remainder forex.

  4. #4
    scmonds Guest
    Quote Originally Posted by TrapTheMarket View Post
    Very good. What's your preferred entry order?
    market execution.

    you have started this poll, but have yet to answer your own question. why would that be?

  5. #5
    Join Date
    May 2016
    Posts
    631
    Hello mate! Good to have your contribution on this thread. I will be posting my preferred entry order with the reason as the thread progresses. I felt I should not post it upfront at the beginning of the thread to avoid creating any bias. Trade safe and prosper.

    Quote Originally Posted by scmonds View Post
    market execution.

    you have started this poll, but have yet to answer your own question. why would that be?

  6. #6
    Join Date
    May 2016
    Posts
    631
    In order for us to have a good comparative analysis with the poll on ForexFactory forum, we need more BabyPips forum members to view this thread and take the poll.

    Trade safe and prosper.

  7. #7
    Join Date
    May 2016
    Posts
    631
    I have been trading live since 2011. Initially I was entering my trades through market execution. However, much recently as I have a better understanding of my trading style and personality I began to see the need to use pending orders. Stop order is my preferred entry order. This gives me the opportunity to confirm my setup with specific price action/signal.

    What is your preferred trade entry order? Share this on this thread if you trade a live account and tell us why. Also, remember to take the poll.

    Trade safe and prosper.

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