Hi all
I have been doing some trading on short time frames and have been doing market execution trades. But recently after reading some forum posts I have decided I should try rather longer time frames like 1h. But I have now realized it is better to set up pending orders if certain criteria are met such ass if the price drops to a certain value then only sell. Now I look at buy limit, sell limit , buy stop and sell stop .
Now I understand that if I want to buy in a future trade I would use a buy limit or buy stop but now I am not sure how all these order executions work and what the advantage or disadvantage of each is . Could we possibly explain this . Thanks a lot .
I have been doing some trading on short time frames and have been doing market execution trades. But recently after reading some forum posts I have decided I should try rather longer time frames like 1h. But I have now realized it is better to set up pending orders if certain criteria are met such ass if the price drops to a certain value then only sell. Now I look at buy limit, sell limit , buy stop and sell stop .
Now I understand that if I want to buy in a future trade I would use a buy limit or buy stop but now I am not sure how all these order executions work and what the advantage or disadvantage of each is . Could we possibly explain this . Thanks a lot .