What's your preferred entry order: market, limit, or stop; why? | Forex Factory

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What's your preferred entry order: market, limit, or stop; why?

  • Poll

  • What is your preferred entry order type?
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  • #1
  • First Post: Apr 18, 2017 4:31am Apr 18, 2017 4:31am
Entry order can play a significant part in how a trader achieves consistent profitability or even failure to attain success given an efficient trading system or strategy. Beyond the theoretical pros and cons of entry order types, the traders' personality, trading style and the nature of trade setups, and even order flow context, among other factors may account for the entry order type a trader employs at any particular point or even on specific market instrument or asset. I am starting this thread for us to share personal experiences on the entry order types employed by FF members. This thread is not interested in theories or postulations on order types.

Having a preferred entry order type does not preclude a trader from using another order type that fits specific setup, trade conditions etc; the preferred order type is basically what is mainly chosen in most of the trader's trades. I have my preferred entry order type and will talk about it and the reason I decide on it as we progress on this thread. I hope this thread runs for a good while, long enough to have a variety of opinions and experiences that we can summarize, perhaps later. I intend to open this thread on BabyPips Forum and compare the results later across the two forums.

Rules for Contributors:
1. Only those who are trading live accounts should contribute. Please, do not post here if you do not operate a live account.
2. Please, state how long you have been trading live when you post on this thread and before you share your experience.
3. Take the poll attached to this thread as part of your contribution as it will be used later in summarizing the results we get from contributors.
4. Please, note that there is no right or wrong answer, so do not denigrate any contributor or any post.
5. Keep your posts to the point
6. Be civil in your language and adhere to FF's ethical code.

KP
Do your homework, follow the footprints of smart money
  • #2
  • Apr 18, 2017 11:57am Apr 18, 2017 11:57am
It's good that FF members view this thread and take the poll. Getting good representation and results from the poll is an important goal of this thread.

KP
Do your homework, follow the footprints of smart money
  • #3
  • Apr 19, 2017 6:11am Apr 19, 2017 6:11am
I'm a short term trader (chart: 1m, average holding time: a few minutes) who targets reversals. The stop-order is my most used order type. I place my orders around reversal signals (classical chart reading) and with a look out for potential technical turning points (areas where the price bounced off/showed indecisive behaviour before). Often I see levels where momentum will come up once they break so the stop order is the most effective order type because the computer handles the waiting for me and I can still adjust in case the price action changes or doesn't play out as expected. Handling my setups like that allows me to trade very short term on 4 or 5 pairs at the same time - all my charts are neatly arranged from top to bottom so I have all the action on the same vertical axis. The line that is drawn for a stop-order allows me to re-check my trade (before it gets triggered) against potential close turning points in the near past which helps me to avoid buying into resistances or selling into supports.

Oh: Live traders since, I don't remember actually, more than 5 years. I trade serious money for a living.
  • #4
  • Apr 19, 2017 7:48am Apr 19, 2017 7:48am
Quoting JensG
I'm a short term trader (chart: 1m, average holding time: a few minutes) who targets reversals. The stop-order is my most used order type. I place my orders around reversal signals (classical chart reading) and with a look out for potential technical turning points (areas where the price bounced off/showed indecisive behaviour before). Often I see levels where momentum will come up once they break so the stop order is the most effective order type because the computer handles the waiting for me and I can still adjust in case the price action changes...
Would love to see a setup from you
Adriaaaaan
  • #5
  • Apr 19, 2017 12:56pm Apr 19, 2017 12:56pm
This is spam and please stop it. This thread is not about that; tell us your preferred entry order type if you trade live, otherwise just view the thread and never post.

KP

Quoting Johnramb0
{quote} Would love to see a setup from you
Do your homework, follow the footprints of smart money
  • #6
  • Apr 19, 2017 2:06pm Apr 19, 2017 2:06pm
Quoting KeenPips
This is spam and please stop it. This thread is not about that; tell us your preferred entry order type if you trade live, otherwise just view the thread and never post. KP {quote}
live, 7 years, limit order mostly, i wait for small pullback after pa to increase my leverage and potential return.
Adriaaaaan
  • #7
  • Apr 19, 2017 3:46pm Apr 19, 2017 3:46pm
Good contribution.

KP

Quoting Johnramb0
{quote} live, 7 years, limit order mostly, i wait for small pullback after pa to increase my leverage and potential return.
Do your homework, follow the footprints of smart money
  • #8
  • Apr 20, 2017 11:50am Apr 20, 2017 11:50am
It will be good if forum members viewing this thread take the poll even if they choose not to post. Getting good representation and results from the poll is an important goal of this thread.

KP
Do your homework, follow the footprints of smart money
  • #9
  • Apr 25, 2017 5:30am Apr 25, 2017 5:30am
In order to have a good comparative analysis with results from BabyPips forum, there is need for more FF forum members to view this thread and take the poll.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #10
  • Apr 27, 2017 3:40am Apr 27, 2017 3:40am
I have been trading live since 2011. Initially I was entering my trades through market execution. However, much recently as I have a better understanding of my trading style and personality I began to see the need to use pending orders. Stop order is my preferred entry order. This gives me the opportunity to confirm my setup with specific price action/signal.

What is your preferred trade entry order? Share this on this thread if you trade a live account and tell us why. Also, remember to take the poll.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #11
  • Apr 27, 2017 4:24am Apr 27, 2017 4:24am
Depends.

If getting in on a pullback before a small continuation then it'll be a limit.
If the market has made a large bullish move and then produces one bearish candle, a stop will go above the high of that bearish candle. Vice versa for large bearish moves. If the market moves through that opposing candle then a limit will be placed at it should the market return to it - before continuing on.
  • #12
  • Apr 27, 2017 5:53am Apr 27, 2017 5:53am
Great! Did you take the poll? Could you tell us how long have you been trading live?

Trade safe and prosper.

KP

Quoting GDR3k
Depends. If getting in on a pullback before a small continuation then it'll be a limit. If the market has made a large bullish move and then produces one bearish candle, a stop will go above the high of that bearish candle. Vice versa for large bearish moves. If the market moves through that opposing candle then a limit will be placed at it should the market return to it - before continuing on.
Do your homework, follow the footprints of smart money
  • #13
  • Apr 28, 2017 4:08am Apr 28, 2017 4:08am
Quoting KeenPips
Great! Did you take the poll? Could you tell us how long have you been trading live? Trade safe and prosper. KP {quote}
Too long

Limit is my fave order type.
  • #14
  • Apr 28, 2017 4:12am Apr 28, 2017 4:12am
Quoting GDR3k
{quote} Too long Limit is my fave order type.
Do your homework, follow the footprints of smart money
  • #15
  • May 2, 2017 12:01pm May 2, 2017 12:01pm
If you trade live account, what order type do you use to enter your trades? Which is your preferred trade order type and why?

Don't forget to take the poll.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #16
  • May 5, 2017 6:05am May 5, 2017 6:05am
Although my preferred trade entry order is a stop order, there are times when I use limit order. One such time is after price action has reached and bounced off a key reaction (e.g. S/R) zone or when a reversal candlestick e.g. an engulfing candlestick is relatively big.

What about you, if you trade live account, which is your preferred trade entry order type? Remember to take the poll.

KP
Do your homework, follow the footprints of smart money
  • #17
  • May 8, 2017 4:23am May 8, 2017 4:23am
I am on live account for 4 and a half years. Market execution is my preferred type of order since I am a short time trader (mostly M1) but I keep an open eye on H1 charts too to spot trend direction.
Also another reason why I use market execution order is because I trade news so I jump in when I spot a trend due to news but I find that with this type of order during news there is sometimes big slippage and sometimes orders not filled in.

Good thread
Enter Signature
  • #18
  • May 8, 2017 5:59am May 8, 2017 5:59am
Thanks for sharing. Yes trading style is a factor, among others.

Trade safe and prosper.

KP

Quoting bbk1
I am on live account for 4 and a half years. Market execution is my preferred type of order since I am a short time trader (mostly M1) but I keep an open eye on H1 charts too to spot trend direction. Also another reason why I use market execution order is because I trade news so I jump in when I spot a trend due to news but I find that with this type of order during news there is sometimes big slippage and sometimes orders not filled in. Good thread
Do your homework, follow the footprints of smart money
  • #19
  • May 16, 2017 11:47am May 16, 2017 11:47am
Which order type do you use for trade entry? That's the focus of this thread. Share yours if you trade live accounts. Remember to take the poll.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #20
  • May 23, 2017 5:33am May 23, 2017 5:33am
Do you prefer a particular trade entry order type? Which? Share it with other forum members if you trade live accounts. Also, take the poll.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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