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How to limit your risk with market orders
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How to limit your risk with market orders

  #1 (permalink)
Trading Apprentice
Leiria, Portugal
 
Futures Experience: Intermediate
Platform: Sierrachart
Favorite Futures: NQ, DX and TF
 
idude's Avatar
 
Posts: 21 since Jun 2013
Thanks: 6 given, 8 received

How to limit your risk with market orders

Hello traders,

I've trying to figure out how to limit my risk and and how to set my target after I enter a market order without any attached orders. Everytime I have a lone maket order and I try to enter an OCO to limit my risk and set my target I get an error. Is it possible to enter these after you have a lone market order like in Ninjatrader?

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  #2 (permalink)
Elite Member
Phoenix AZ USA
 
Futures Experience: Advanced
Platform: SierraChart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ YM RTY
 
Posts: 295 since Nov 2009
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Yes, it is possible.
Attached Orders Feature - Sierra Chart

Then click on the link for specific instructions.
Order Types - Sierra Chart

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  #3 (permalink)
Trading Apprentice
Leiria, Portugal
 
Futures Experience: Intermediate
Platform: Sierrachart
Favorite Futures: NQ, DX and TF
 
idude's Avatar
 
Posts: 21 since Jun 2013
Thanks: 6 given, 8 received



tomgilb View Post
Yes, it is possible.
Attached Orders Feature - Sierra Chart

Then click on the link for specific instructions.
Order Types - Sierra Chart

That is not my question, I'am aware that you can with attached orders.

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  #4 (permalink)
Elite Member
Phoenix AZ USA
 
Futures Experience: Advanced
Platform: SierraChart
Broker/Data: TradePro/TransAct
Favorite Futures: NQ YM RTY
 
Posts: 295 since Nov 2009
Thanks: 125 given, 338 received

Sierra Chart will do what you want. The second link I posted explains how to add an OCO order to a lone existing pending order or a lone open position.

Here are the basic steps:
1) preset one or both target and/or stop offset on the Targets tab.
2) uncheck Use Attached Orders
3) enter your lone market order
4) On the Main tab, from the unlabeled dropdown menu, select Attached Orders-Position
5) press the Buy button if short, or the Sell button if long.
6) manually adjust the target/stop to your requirements.

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  #5 (permalink)
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Italy (IT)
 
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tomgilb View Post
Sierra Chart will do what you want. The second link I posted explains how to add an OCO order to a lone existing pending order or a lone open position.

Here are the basic steps:
1) preset one or both target and/or stop offset on the Targets tab.
.................

You can set the target and the stop also after you made the market order.....

Take your Pips, go out and Live.
Luke.
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