DislikedIf going with EURCHF....
Limit orders could be used to help manage trades when your not glued to the computer.
Never operated with limit orders in Forex before...any problems with that??
that's a good idea and worth trying. I've found out on my backtests that when hedging according to the eurchf % the profit is slightly higher as if having traded eurchf directly.
After having backtested with the three charts for a while (eurchf eurusd usdchf) I now do my backtests and strategy research on eurchf chart only and it works well. I just assume a profitable hedge when I close a trade.
As choppy as eurchf can be one could definitely place limit orders at 0:00 candle close, all with a 40 pip tp and no sl that expire after 24 hours.
The only problem is, it would not be possible to adjust the steps according to the pricemomentum.
For automated backtesting puropse it would be very interesting to have an ea that enters trades at every day, even if other trades from the day(s) before were open.
Unfortunately I'm not a programmer. But maybe there's a programmer on this thread that has the time to develop this simple ea. I'd apprechiate it.
...to answer your question: yes, I've been working with limit orders at oanda and have not had a problem. they all have been executed as set. the only downside are the temporarily high spreads during news time that may trigger an order to be right away 10 or 15 pips in minus with. but I haven't whitnessed this kind of slippage on eurchf yet.