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Why you should move from futures to forex


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Why you should move from futures to forex

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  #1 (permalink)
 XM24051 
Youngstown, Ohio, United States Of America
 
 
Posts: 20 since Sep 2020



I've never heard of restricting an order from posting because it was too far away from the current market price. What if I'm a LONG TERM trader that and my strategy was telling me to take profit at a range that exceeds this BS range? Now I have to create an alert and manually place the take profit as soon as the mid market becomes closer to my exit which DEFEATS THE WHOLE PURPOSE OF USING A BRACKET ORDER!!!

Fuck futures trading, I only use it to trade SHITcoin. And this is one of the reasons. The other is that clusterfuck mess of using two windows because even tradingview doesnt like futures.

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  #2 (permalink)
 Arch 
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have you asked your broker?

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  #3 (permalink)
 qsceszwasdx 
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Are you sure SHITcoin is a kind of instrument of futures?

I guess when you trade SHITcoin, your broker is your adversary.


XM24051 View Post


I've never heard of restricting an order from posting because it was too far away from the current market price. What if I'm a LONG TERM trader that and my strategy was telling me to take profit at a range that exceeds this BS range? Now I have to create an alert and manually place the take profit as soon as the mid market becomes closer to my exit which DEFEATS THE WHOLE PURPOSE OF USING A BRACKET ORDER!!!

Fuck futures trading, I only use it to trade SHITcoin. And this is one of the reasons. The other is that clusterfuck mess of using two windows because even tradingview doesnt like futures.


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  #4 (permalink)
 matthew28 
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Having a go at answering your other thread question first:

It looks to me like the stop and limit you are being asked to specify are for the stop-limit order you are trying to put in to sell below the market. I don't think the Limit Price you are being asked is for a take profit order, but rather how much slippage you are prepared to accept on the stop order. If you wanted no slip the stop price and limit price would be the same. If you were say entering near a breakout level you might accept up to five points of slippage but no more so the stop entry would be at 28000, with the limit at 27995.

Just my guess from the screenshot as I have never used Tradestation or Tradingview. Surely there must be an online manual explaining the order type entry on the platform?


As for this thread question, price is at 29445, you want to put your take profit at 20000, so looking for price to drop by almost a third in value! but the platform is saying your take profit limit order is too far away but you can place it at the Low Limit of 20010.

So you’re getting upset because you can place your target 9435 points away from the current price, but not the 9445 points away you would like.
Looking at that Daily chart it would take at least three or four days to get to that level guessing the approx ATR. Surely you could just set your target now at 20010 and just move it down another 10 pts in a couple of days if price moves further your way.
Having said that of course, most people wouldn't put their target exactly on a prominent round number anyway but would have it at least a little above, say 20010.....

Not really good reasons why other people should stop trading futures and move to forex.

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  #5 (permalink)
 XM24051 
Youngstown, Ohio, United States Of America
 
 
Posts: 20 since Sep 2020


matthew28 View Post
As for this thread question, price is at 29445, you want to put your take profit at 20000, so looking for price to drop by almost a third in value! but the platform is saying your take profit limit order is too far away but you can place it at the Low Limit of 20010.

So you’re getting upset because you can place your target 9435 points away from the current price, but not the 9445 points away you would like.
Looking at that Daily chart it would take at least three or four days to get to that level guessing the approx ATR. Surely you could just set your target now at 20010 and just move it down another 10 pts in a couple of days if price moves further your way.
Having said that of course, most people wouldn't put their target exactly on a prominent round number anyway but would have it at least a little above, say 20010.....

Not really good reasons why other people should stop trading futures and move to forex.

Have you ever traded bitcoin? Drops by a third in value or more are a common thing. How am I supposed to stay unemotional if I have to manually intervene and replace my take profit where it belongs, just because its currently too far from the current price. Thats fucking stupid mate, and that alone should scare off anyone from trading futures long term as that manual intervention can cause extreme losses in the event that the trader forgets (you would have to set up alerts and be at the mercy of the alerts vs an order that has almost a 100% guarantee of executing at the nearest taker order.



Quoting 
It looks to me like the stop and limit you are being asked to specify are for the stop-limit order you are trying to put in to sell below the market. I don't think the Limit Price you are being asked is for a take profit order, but rather how much slippage you are prepared to accept on the stop order. If you wanted no slip the stop price and limit price would be the same. If you were say entering near a breakout level you might accept up to five points of slippage but no more so the stop entry would be at 28000, with the limit at 27995.




Correct, I want to open a short position at 28800, if the horizontal support at 28000 breaks. I thought thats what a stop limit does. Its a limit order that only opens once the condition (the stop) triggers.

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  #6 (permalink)
 XM24051 
Youngstown, Ohio, United States Of America
 
 
Posts: 20 since Sep 2020




Heres another example. Lets say I want the level 35970 to be triggered to open a limit order of 30670. Thats what stop limits are for. They are a conditional limit order.

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  #7 (permalink)
Symple
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@XM24051

Futures can be traded in different ways and yours is just one of many. So the discussion you want to have is very one hand based and has not much of any value.

So telling "Future trading sucks" shows in your case only you have not understood how to trade them in other ways then what you think is future trading.

All the best as I am any way out of such, one handed discussions.

Symple

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 xplorer 
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 bobwest 
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The title of this thread has been changed to "Why you should move from futures to forex." The previous title said the same thing, but was, let us say, more colorful.

We aren't prudes, but there's no reason to go to extremes, either.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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