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How do YOU enter a trade
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How do YOU enter a trade

  #21 (permalink)
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tturner86 View Post
Brackets in OEC are your entry order + stop loss + profit taking limit. But that way I click one button and all my orders are placed into the market. No scramble to insert others when you are filled.


Oh, I see, It's like Ninja's ATM's ... OK


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  #22 (permalink)
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trendisyourfriend View Post
Exact, except i rarely use a stop limit i prefer a stop buy as i want to make sure i won't miss the move.


Ok ... so you would prefer the slippage of a Stop Market entry rather than miss the break ...

What would slippage be in the NQ .. 2 ticks , max ... sounds like a good idea.


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  #23 (permalink)
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tderrick View Post
Ok ... so you would prefer the slippage of a Stop Market entry rather than miss the break ...

What would slippage be in the NQ .. 2 ticks , max ... sounds like a good idea.

Usually, but I have slipped a point in the NQ during a fast move.

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  #24 (permalink)
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tturner86 View Post
Usually, but I have slipped a point in the NQ during a fast move.



hmmm ... not good ....

OK , stop limits it is


AJ
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  #25 (permalink)
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This isn't exactly about making the entry, but is an important point. When you see those big moves occurring, you have to ask yourself if this was a higher time frame driving the situation. Use your same kind of analysis: Was there an edge? etc. If you can determine this quickly, then there is more comfort "chasing" because higher time frame = larger move. If you understand the cadence of a move on a smaller time frame, then you can figure the cadence on a larger time frame and determine if the RR is appropriate.

I am a buy the bid and sell the ask kind of guy. One thing I need to improve on is when to shift to more aggressive, and I think this is part of your issue as well. I do have a hard time shifting from buy the bid to market order on those big moves, but i have been trying to train myself into that. In those situations, it seems that if you can't get that minor pullback to get your bid hit, then those are the times that you need to furiously pump the buy market order because those are the strongest moves. You can use a one unit test "buy bid" or "buy limit" that lets you know how aggressive you need to be depending on whether you get filled or not.

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  #26 (permalink)
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Luger View Post
This isn't exactly about making the entry, but is an important point. When you see those big moves occurring, you have to ask yourself if this was a higher time frame driving the situation. Use your same kind of analysis: Was there an edge? etc. If you can determine this quickly, then there is more comfort "chasing" because higher time frame = larger move. If you understand the cadence of a move on a smaller time frame, then you can figure the cadence on a larger time frame and determine if the RR is appropriate.

I am a buy the bid and sell the ask kind of guy. One thing I need to improve on is when to shift to more aggressive, and I think this is part of your issue as well. I do have a hard time shifting from buy the bid to market order on those big moves, but i have been trying to train myself into that. In those situations, it seems that if you can't get that minor pullback to get your bid hit, then those are the times that you need to furiously pump the buy market order because those are the strongest moves. You can use a one unit test "buy bid" or "buy limit" that lets you know how aggressive you need to be depending on whether you get filled or not.


What is up, neighbor ...are you still trading via bot?


AJ
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  #27 (permalink)
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I use market orders. I have used limits and buy stops in the past. They all have positives and negatives. I rarely get more than 1 tick slippage on TF, NQ, or CL but I am on a server in the Aurora data center and tied directly into the rithmic trading engine (on same router) which makes a big difference. Majority of trades I get no slippage at all but what I do get I build into my expectancy and then some.

"The day I became a winning trader was the day it became boring. Daily losses no longer bother me and daily wins no longer excited me. Took years of pain and busting a few accounts before finally got my mind right. I survived the darkness within and now just chillax and let my black box do the work."
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  #28 (permalink)
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Still got the bots running...sometimes I am glad and sometimes they frustrate me...

I've traded more myself to go along with the bots...sometimes I am glad and some I frustrate me...lol

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  #29 (permalink)
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Buy or sell stops 95% of the time, other 5% is split between buy or sell market and limit orders....limit orders have become a slightly larger part of my business lately but still a very small part of the over all order entry types.

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tderrick View Post
Yes , the renko's would certainly help with stop limit order's ...

I have Buy Bid and Sell Ask set up on my Custom DOM .. I bet that is the ticket. I used to use them more ,
but I still felt like it was still too "impulsive" , and I wasn't showing enough patience by waiting for my limit order ..

CAN ANYONE TELL I HAVE MASSIVE SCARS FROM LOSING HUGE PILES OF CASH CHASING?

In the end , I would still be waiting for smallest of PB's ! ... using the buy bid and sell ask



So, just wait for sucker to reverse at the level in question and hit the button ...

There is certainly a benefit to knowing exactly where your stop would go , instead of estimating a range , such
as on a "blind" PB entry ...

Now a limit order set at a consolidation edge is still the best entry , imho


good stuff

Lol. same scars as us all mate :-) really good thread..lets keep it active.

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