Issue wit straddle strategy on fxsolutions

Beginner Questions
1

Hi all,

I am having an issue setting up the straddle strategy in fxsolutions practice account. When I try to enter a limit order where i want the buy at a price level which is higher than the current bid price, i shows me that the entry reference cannot be greater than the currenct bid price. Same goes with the case of selling at a price lower than the current one.

Let me put this in an example:

lets say curreny bid price for xyz pair is: 1.60

I want to buy an order when the price reaches 1.65. My system however shows me:
Entry reference <=1.60

This means i have to choose a number lesser than 1.60

Here is the straddle strategy i am trying to execute:

I a trying to execute the straddle strategy on baby pips: [B]Letting the Market Decide Which Direction to Take[/B]

Any help will be appreciated.

Thanks,
Farhan

2

The question is not clear for me…
So you want to do buy stop or buy limit ?

But stop is, you want to buy in the future and current price is below your price order.
Buy limit is, you want to buy in the future and current price is above your price order.

An image is worth than thousand words :

stop-limit-orders.bmp (458 KB)


Hope that help… :wink:
Benz

3

Dear Benz,

Thanks very much, this one has set everything straight for me, lol. I had only been looking and buy and sell limit orders and hence the issue.

Also, I have been trading with RSI/Moving averages for the past few days. Can you please advise what strategy is a good one for starters?

Thanks again
Farhan

4

There are many strategies using RSI and MA but I can’t pointing you to the best or good one…

You can try to look at the trading system area and choose one that fit with you.

Good luck… :wink: