The approach of if the SL goes extra wide the trade is cancelled is a fabulous idea.
If the spreads go extra wide, it will affect the stop loss
After that, For me personally I would like it to be based on the opposite entry or I will probably use decent size hard stops.
So if one entry is at top of candle + 5 and other is at low -5 then if buy gets triggered OCO the other side and use that as the stop, or 30, whatever is biggest.
If you use same for Pointsaway and SL, should be close enough depending on the spread
I can close it if I don't like it, 30 ensures I keep in the trade. I'd rather a few 30 pips SLs that several trades getting stopped out like last week where I lost 15 pips in a blink, a giveaway which bigger SL would've saved. Sorry PG, that was probably due to the SL bug
My logic is this, if upper order opens then its into OCO and trailing stop. A wide enough stop will stop me being closed out milliseconds later.
Then I read 40 to 50 pip slippage, man that sucks big time. Slippage is always a problem but that's not on. Is that purely down to the broker, is it the time the trade was taken or is it related to a certain news event (NFP anyone !!)? Broker or their Bank
I think you said 42 SL 42 pips was my best result ever as in profits not stops in an earlier post, I'd live with 30 to start (get me in) then tighten it, the trailing stop would do the job.
Lastly I would add regarding the excel spreadsheet trades not to take. Avoid speeches, votes, auctions etc, you don't know when the result will hit. Even Interest Rate decisions are bit dodgy these days
PG
That didn't work, eh. Try again. Hey pg see the edits above. Alan
If the spreads go extra wide, it will affect the stop loss
After that, For me personally I would like it to be based on the opposite entry or I will probably use decent size hard stops.
So if one entry is at top of candle + 5 and other is at low -5 then if buy gets triggered OCO the other side and use that as the stop, or 30, whatever is biggest.
If you use same for Pointsaway and SL, should be close enough depending on the spread
I can close it if I don't like it, 30 ensures I keep in the trade. I'd rather a few 30 pips SLs that several trades getting stopped out like last week where I lost 15 pips in a blink, a giveaway which bigger SL would've saved. Sorry PG, that was probably due to the SL bug
My logic is this, if upper order opens then its into OCO and trailing stop. A wide enough stop will stop me being closed out milliseconds later.
Then I read 40 to 50 pip slippage, man that sucks big time. Slippage is always a problem but that's not on. Is that purely down to the broker, is it the time the trade was taken or is it related to a certain news event (NFP anyone !!)? Broker or their Bank
I think you said 42 SL 42 pips was my best result ever as in profits not stops in an earlier post, I'd live with 30 to start (get me in) then tighten it, the trailing stop would do the job.
Lastly I would add regarding the excel spreadsheet trades not to take. Avoid speeches, votes, auctions etc, you don't know when the result will hit. Even Interest Rate decisions are bit dodgy these days
PG
That didn't work, eh. Try again. Hey pg see the edits above. Alan