Quote:
|
Originally Posted by pip'er
Hi Trader83, I am also testing and I like your idea - I was thinking along those lines myself. So is this what you mean more or less?
Price usually goes against initial trade by 20-30pips so why not take advantage of it by setting a buy/sell limit at the same time the buy or sell signal is generated. you could set the TP to the open price say 15-30 pips or let it ride along with the first TP of 42 pips(or whatever). If it isn't hit then have phoenix close it when 1st TP is hit.
|
Reading this when I'm awake helps a lot. That does make sense but knowing what "usually" is would be important. Maybe set a SL=breakeven once you hit 5 pip profit too. Adding trades like this sounds like a fun thing to do for Phoenix 6 candidates, trying out new code.
Right now my main interest is simply making Phoenix more reliable and robust. I will put this on my list of things to write. If someone else wants to write it in the meantime, sounds great. Having a few experiments sitting around would be entertaining to programmers I think.