Kenyuki wrote:What order type do you usually use?
And I'm more confused now
I'm usually (95% of cases) using these 2 MBT orders:
Sell Stop Limit + TTO
Buy Stop Limit + TTO
They're set up as my default order types in MBT Navigator.
By doing so, I could enter the trade (with predefined Stop-Loss
and Profit-Target) by placing Stop Limit order by 3 mouse
clicks and 1-2 5-digits numbers.
For more details - see my abovementioned post.
No confusion is necesary. All you have to understand
very very good -
are pages 18 and 19 from this MBT guide
for Stop Limit + TTO orders
http://mbtrading.com/f/MBTradingFutures ... yGuide.pdf
You need to reproduce, test and play
with all possible combinations
until you understand, how it's working
and (most important) when the order triggered and
how to narrow its execution range
and why (in fact) actually use Stop Limit + TTO
(but not Stop + TTO or market order types, for example).
(as I've done some time ago after around 1 week hard work,
until I relaized, what all this actually means).
I've given most of tricks in my post above,
re-read it several times and then apply to practice.
Once you've mastered this - you could forget all about
these bloody order types and enter just by 3 mouse clicks,
then adjust order (cancel it completely, decrease/increase
SL or PT, delete one of them (not recommended at all),
start working with more complex multi-contracts
or trailing stops scenarious).