Hello guys,
I’ve been working on a strategy that I plan on taking live and the problem im facing here is that this strategy requires very quick trade execution to be effective. So in the meantime while I calculate my position size in my browser then enter the trade parameters in my platform that trade opportunity could be gone already.
Just to give you an example of what my strategy is, I enter with a buy/sell stop as soon as the 1h candle closes right above/below the current market price. (dont ask why, its just something I tested and probably wont make sense to you, because there is a lot more to it)
Is there some kind of indicator or EA that can get me in quick with my position size or maybe there is some other method like scripts? I believe I heard some people use automatic executions or something like that to execuite quicker.
Doesn’t that depend on your broker’s order execution? So not so much the orders you set in the platform. But actually on the broker side? Who’s your broker? Did you check with them?
Is it possible, towards the closing time of the H1 bar, to set up a number of different entry orders with the appropriate parameters? Then, as the bar closes, just drag the best one into a place where it will be triggered on the next tick? Obviously cancel the remaining orders.
You are right it does depend on the broker order execution but it also depends on quickness of my manual execution. How quickly can I set all the parameters before my opportinity is gone.