Reason why I hate pending orders

It always irks me when my pending order doesn’t get filled and the trade goes into my direction. How can I prevent it from happening less of the time? Tools, psychology,
anything? Look very closely at the picture, the buy limit and the stop loss.

Hi Some types of pending orders have poor performance on some currency pairs and time intervals. Try to use the AUD / CAD pair at the H1 time interval for limit orders. Regards Greg

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How do I know what pending orders work more efficiently on certain pairs?

Set an alert rather than a order and then make a choice , personally I always use a order , I wait for the price to be past where I want to enter , make the order and wait for the trade to trigger

you need to research which orders work best at different time frames.

The market can move very quickly, particularly at the moment (I’m currently not even trading owing to Coronavirus - the moves aren’t predictable enough). Sometimes those moves happen too quickly for your order to trigger you into a trade. But often, even if you had been sitting staring at the chart at that moment, you wouldn’t have acted swiftly enough to get into the trade. It’s always obvious afterwards how things played out, so we tend towards regret, but I’d try not to regret the trades I don’t get into. There is always another opportunity in the market. If an order doesn’t trigger then I generally have either been too ambitious/conservative with my Entry, or the market was moving too swiftly to trigger me. Well in the first instance I had my reasons, in the second I don’t want to try to catch a falling knife.

The majority of my trading is entered via orders. I don’t regret the ones that don’t trigger. There will always be another. Tweaking your Entries to ensure a higher rate of being triggering risks, for me, bending your analysis to fit the chart. That’s a slippery slope!

(Apologies for the rambling nature of this response - out of practice and trying to capture too many ideas quickly. Hopefully you get the gist. Ignore the first bit and just go with my last para - that’s the key bit!)