Pending Order Only (POO)

Quoting sam30

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Hi All, For me, there are so many strategies, systems and signals to decide "buy side" or "sell side". The action for every decision is action to enter the market ...by manual, EA, semi EA or combo. The action in simply is only by "market execution" or by "pending order". I need your opinion about how you have trade by pending order...if you have experience and successful with pending order. I hope it will enrich our database to use the pending order. So, in simple word we will talk all about pending order and how we use it. Please share your views....

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Quoting classy

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you can check it .i follow it ...some time works ..some time not ..i place order according to price action...sar pivot..fibo level ... http://dhaka-classy.blogspot.com/201...limit-and.html

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Quoting gspajon

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{quote} I use pending orders for almost all of my entries and exits. They work very well for me. They allow for thorough evaluation of the market conditions and to anticipate the most efficient and effective entry at the price YOU want. Using pending orders is an extremely accurate way of entering and exiting the market but as with all things it requires discipline to set your order and let it trigger, and not preempt it or change it as your feelings dictate. I invite you to find my latest thread and have a look and perhaps share your view points...

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Quoting gspajon

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{quote}They allow for thorough evaluation of the market conditions and to anticipate the most efficient and effective entry at the price YOU want. Using pending orders is an extremely accurate way of entering and exiting the market but as with all things it requires discipline to set your order and let it trigger, and not preempt it or change it as your feelings dictate.

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Quoting sam30

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{quote} Thanks you classy for your sharing. I will look around your blog. i like your statement that sometimes it work sometimes it not...just like the asumption of 50 % chance of this "nature" business (forex)...that is why we will study and learn about how to experience and max-out the pending order stategy to back up or support our action...i hope it will help a lot and much people here.

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Quoting SakibFX

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I put stop orders for breakouts. Pending orders work well for me as long as I put them after doing extensive analysis of both technical & fundamental issues. One observation is, when you put buy stop/sell stop orders, don't set TP level (or set it too far) because IF the price jumps, your orders will open & close at the same time and will incur losses too. Once my account was blown up that way, coz those orders were with very high lots, and the lesson learnt. Thanks.

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Quoting sam30

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{quote} Yes, pending order (stop orders) ...usually taken for break out strategy ( as i use for my scalp system). I agree its needed a very good observation and analysis for both technical, fundamental or momentum and timing...because there is still a chance to success or failure as the comparative picture below. Would you share your "weapon" to analysis technical/fundamental to see the market condition? if you willing too. and thank you for sharing your experience and learning by using high leverage as high risk as well. {image} {image}

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Quoting sam30

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The first Question for PO (pending order) is where is the perfect level to place it....(i know it depend on the situation we face and what strategy we use as well) is there any specific proven pattern ie.by using fibo extension and projection level or something else? Please share your simple thought. For me, i really like to use PO to add position with breakout strategy (the hard task is to fine the right timing ) by place on potential breakout of PA or level 00,75,50,25 as the other option. (see the picture below) Where do you like to place PO,...

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Quoting GDR3k

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{quote} Why not have a sell limit at 120?

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