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Date/Time: Wed, 24 Apr 2024 13:24:19 +0000

Post From: Limit Pullback Question

[2021-10-13 17:18:23] Link To Thread - Link To Post [Go To First Post]
Matador Trader - Posts: 24
Let me see if I can do a better job explaining what I would like. For this example I will only deal with the sell side. Say price is currently at 101. I would like a sell limit order to only be filled on a pullback. If I set a limit order to sell at 120 - when market is touched at 120 I want trailing entry order to be placed with an offset of 2.5. (2.5 points below the current market price) If prices surges to 125 - my trailing entry order will trail the market price by 2.5 so I will be entered at market at 122.50 when/if price pulls back. If price goes to 127 - i will be in the market when price pulls back to 124.50 If price goes to 130 - I will be in at 127.50 If price goes to 119 and never touches 120 - I will not be in any trade. If price touches 120 and turns around - my trailing entry order would be filled at 117.50 (2.5 points from the high after my trigger level is touched) Does this make sense?