Quote:
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Originally Posted by paijolopez
Wednesday 4 APRIL 2007
SELL STOP GBP/USD at(A)1.9744
take profit 1.9724
stoploss 1.9774
CLOSE profit +20 pips at  12:40 am GMT |
Hey Guy's
This was already in and above the upper zone. What do you do in this case. A. Do you go ahead and place an order @ 9767 TP @ 9787 SL @ 9737. B. Buy Limit order @ 9767 TP @ 9787 SL @ 9737 on the chance that the price will come down and then retrace and come back up again. C. Don’t place any order because the range has already been compromised? This was the -30 pip on the 3rd.
I am just trying to understand this incredibly simple sys. Thanks for the 20 pips last night = 90.00 for me in real money.
1. Buy Limit — buy provided the future "ASK" price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
2. Buy Stop — buy provided the future "ASK" price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;