For the Buzzard strategy, I place the entry at the Pivot of the previous candle. H1 seems to work best for me cause I see that the reversal usually contains good amount of PIPS to grab.
marcromero wrote:xmess7 wrote:marcromero wrote:IBFX
I am familiar with IBFX.
- Go to the Pair u are interested in.
- Hit F9 (new order)
- I forget the name of the pull down menu but
you will see something called "Instant Execution"
Change that to "Pending"
- Then you will be able to select the following choices
a. BUY LIMIT
b. BUY STOP
c. SELL LIMIT
d. SELL STOP
These will be visible on the next pull down. (sorry doing this from memory .
The thing that suxx about IBFX and others is that you are restrained by the distance or number of pips you can place the LIMIT order. For IBFX it is at 10 pips minimum. Whereas in MBT you can get filled at virtually any price level.
Hope that helps.
Thanks, I guess my question should have been is how do you know where to place you limit/stop entry on a reversal trade.