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Pending Trades

 
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triednproven

Pending Trades

Many thanks to alll who chance upon this thread and or make a contribution.  I have a trade in which I am wanting to place some pending long and short, however I want to do it the way I have seen Rex present it. Unfortunately when you are watching the live shows, things move fast and it is next to impossible to get all the moves down to a T.

Thanks for any and all help.

A troubled trader wanting to get the science accurate.

L.J.

Tue, 09/10/2019 - 1:36pm
 
rosalia.tnb

I have a question; I have pending orders in my Silver III account, since I made to Gold I, I know that I have to active my Gold I account, but I wondering what will happen with my orders in Silver III account. Are they going to be desactivated or are they still going on even if I not going to use that account no more? I dont want to close them now because they will be in a loss and dont want to have a risk more than 3% loss since I have a now very good profit winnings better than my losses. Please help

 
FXGold54

Rosalia;

Congrats on Making Gold 1 :)

Those orders/trades are still active. Moreover the stats only count toward your Silver account. they will not affect your Gold account stats

Hope that helps,

Allen

 
rosalia.tnb

Thank you FXGold54

Yes that helps

Rosalia ;-)

 
cng123

Hi Triednproven,

There are 4 different pending trades you can do. Here is a link that explains what they are: https://justforex.com/blog/pending-orders-beginners-guide/

The best way to remember them is for the pending stops, you expect the price to continue beyond your stop orders, just like when you are driving, you stop at the stop sign and continue drive away. While for the limit orders, you expect price will go back after it hits your limit order.

On Alveo, the best way to implement by follow these steps below:
1. Setup your TL, SL and lot size on 1 click order
2. Place a horizontal line where you want to set your orders, then point your mouse near the line. Right mouse click and you can select your pending orders.
If the line is above the current price, you can choose buy stop or sell limit order.
If the line is below the current price, you can choose either sell stop or buy limit order.

Hope this helps, I know the terminology for the pending orders can get confusing, but the software helps a bit by reducing your choices to two.

 
Rookie

I don't use a lot of limit orders however I do use a lot of stop orders for my 4H traders. Maybe because I am impetuous and don't want to want for the setup to complete. I have found this very helpful and successful in staying out of trades that don't work out just yet when the market wants to go the other way you're not committed. And the best part I am sleeping if it goes my way I like the pips when I get up. That said my rule is to get out before the NY open about 5-6 CDT and avoid the reverse price action.

When reviewing this with a trader friend, it was suggested I use the fibo's for the limit orders guidelines, While I haven't had the time to thoroughly test this out it makes perfect logic and will do so down the road. Not that the fibo's are any more accurate than reading the PA they just make it quicker or can be used as a confirmation base.