Hello, i am willing to discuss the best ways how to open (and close) a position. In one of my methods (probably goes under scalping) I have a good idea around where the market will turn around, however I can't tell it exactly within a pip in advance. As it is quite short term, stop loss is tight and spread+commission is somewhat big % part of sl+tp, so... i am looking for great accuracy.
Lets assume there is a short pip interval, say 3-10pips, in which i predict that price will enter, move, stop and then go back in opposite direction. I would be willing to enter when it stops. That was my short introduction, i hope there is someone with some good advices.
1) One way to look at it would be market execution, however i am afraid of slippage, also setting stop losses and tp is not that convenient.
2) Pending orders makes you guess where the market will decide to stop. This probably has least chance of slippage, but lacks flexibility
3) One click trading. I see that some brokers provide the so called One Click Trading expert advisor.... i wonder if execution speed/slippage is lower when using this or any EA in general.
It has some useful advantages though:
+) can set sl and tp in pips, not price;
+) takes into account maxinam slippage
+) allows to specify percentage of account equiy to risk at trade (knowing what the spread is)
I think i described my concerns quite well, hope to see some feedback.
Thank you and good luck.
Lets assume there is a short pip interval, say 3-10pips, in which i predict that price will enter, move, stop and then go back in opposite direction. I would be willing to enter when it stops. That was my short introduction, i hope there is someone with some good advices.
1) One way to look at it would be market execution, however i am afraid of slippage, also setting stop losses and tp is not that convenient.
2) Pending orders makes you guess where the market will decide to stop. This probably has least chance of slippage, but lacks flexibility
3) One click trading. I see that some brokers provide the so called One Click Trading expert advisor.... i wonder if execution speed/slippage is lower when using this or any EA in general.
It has some useful advantages though:
+) can set sl and tp in pips, not price;
+) takes into account maxinam slippage
+) allows to specify percentage of account equiy to risk at trade (knowing what the spread is)
I think i described my concerns quite well, hope to see some feedback.
Thank you and good luck.
