Trade Settings
These settings controls which automated trading mode you wish you use
Last updated
These settings controls which automated trading mode you wish you use
Last updated
Offers various modes for automated trading
Fixed take profit
This does not use a trailing stop at all and will always trade with a fixed take profit, based on your risk management settings
Profit Target (see Risk Management section)
Automatic Position Sizing Mode
The fixed take profit will automatically be calculated based on your risk settings
Risk Management - Manual Mode
The value entered in the Fixed Take Profit (currency) field is the amount in currency you want for your take profit.
The order qty is factored into where this profit target order is placed
Scalp Mode (currently in beta)
Trailing Stop Based on Zones
This is a very powerful way of trading and is the recommended way to trade if you are using a trailing stop
The stop will not move until a new zone is formed.
The stop will be placed at the low of the new demand zone or high of the new supply zone
For example, if you are going long on a demand zone and price starts moving upwards, the stop will remain in place until a new demand zone is formed above your current filled market position. The stop will then move below the low of the new demand zone, locking in gains and moving to a safe position that is less likely to result in you being stopped out, as zones act as support and resistance areas in this situation.
The opposite example will occur when going short and the stop will move down only when new supply zone is formed below your current filled market position
Incremental Trailing Stop
This will not use any take profit and will trail the current price based on an incremental value
The incremental value is the amount the price needs to move in currency before the stop will move. Based on the risk of the zone (e.g $200 zone risk) means the stop will move in $200 increments.
Trailing Stop Incremental Multiplier will allow you to set the distance the stop will maintain always between the current price.
For example, if you set the multiplier to 4 and the zone risk amount is $200, this means that the stop will not start moving until price has reached at least $800 gap (multiplier of 4 times zone risk of $200), between the stop. The stop will increment down by the zone risk amount ($200, always maintaining a distance of $800 between the current price.
Trailing Stop Based on EMA
This will not use any take profit and will trail the current price based on an incremental value
The incremental value is the amount the price needs to move in currency before the stop will move. Based on the risk of the zone (e.g $200 zone risk) means the stop will move in $200 increments.
Trailing Stop Incremental Multiplier will allow you to set the distance the stop will maintain always between the current price.
For example, if you set the multiplier to 4 and the zone risk amount is $200, this means that the stop will not start moving until price has reached at least $800 gap (multiplier of 4 times zone risk of $200), between the stop. The stop will increment down by the zone risk amount ($200, always maintaining a distance of $800 between the current price.
This is a very powerful way to trade and will intelligently place the the take profit at the nearest opposing zone to your trade.
For example, if you took a trade on a demand zone, you are going long. When your entry is filled at the demand zone, your take profit will be placed at the nearest supply zone, above the current price.
This mode will automatically close long positions that close above the EMA line and have a minimum amount of profit and then close back below the EMA line. You can enable this mode to any trading mode.
Value is in ticks
This setting controls the amount in ticks that you wish to have your order entry price set at above a demand zone or below a supply zone
Value is in ticks
This setting controls the amount in ticks that you wish to have your stop loss price set at below a demand zone or above a supply zone
