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I think that is my problem ... I am trying to be too precise ... I mean exact prices... The thing is , I can usually
judge these "Price Seams" very well , but they are far and few between ....
I need a way to get in on those "V" bottoms , that I know- that is my level , but I don't get my nice, comfortable
consolidation zone to enter on the bottom / top of ....
Perhaps market orders are the way - trying to judge a stop limit in front may give away too much real estate from the
stop, which would be just below the reversal bar ...
There is also the Buy at bid and sell at ask method ... Giving you the best price at the decision point... or course this
would lead to missing some entries to save a couple of ticks..
gotta add that I trade off of renko charts - so I know beforehand where my entry will be. Makes a nice advantage in terms of where to place the stop limit...
For a momentum setup you can try the Perry Mason technique also known as marketable limit order or use an OCO order where you basically place two orders that will form a bracket, ie, a limit buy/sell to catch the best entry level on a PB but if it fails to hit your best entry level a stop order above a previous hi/lo will catch the fast and furious move in the intended direction.
Yes , the renko's would certainly help with stop limit order's ...
I have Buy Bid and Sell Ask set up on my Custom DOM .. I bet that is the ticket. I used to use them more ,
but I still felt like it was still too "impulsive" , and I wasn't showing enough patience by waiting for my limit order ..
CAN ANYONE TELL I HAVE MASSIVE SCARS FROM LOSING HUGE PILES OF CASH CHASING?
In the end , I would still be waiting for smallest of PB's ! ... using the buy bid and sell ask
So, just wait for sucker to reverse at the level in question and hit the button ...
There is certainly a benefit to knowing exactly where your stop would go , instead of estimating a range , such
as on a "blind" PB entry ...
Now a limit order set at a consolidation edge is still the best entry , imho
So the bracket order is ... say , in a long ... A stop limit buy , just above and a limit underneath to catch the
preferred PB at the good price level ?
Brackets in OEC are your entry order + stop loss + profit taking limit. But that way I click one button and all my orders are placed into the market. No scramble to insert others when you are filled.