System of Pending Orders | Foreign exchange indicator download- MT4/MT5 resources
This is a short-term system that uses only pending orders without take-profit or stop-loss levels, with holding periods ranging from days to weeks, depending on the number of currency pairs you choose to trade. The system benefits from quantity security, so the more currency pairs you trade, the better.
The number of open trades and pending orders in the IC market is limited to 200, and since I am trading the entire market of AUD, CAD, CHF, EUR, GBP, SGD, JPY, I will reach close to 200 in a week. For me, this means placing pending orders starting on Monday, continuing up to and including Friday, and then closing all orders before Friday's close.
The system is simple, just place an order on TE, no need to take profit or stop loss. If you decide you must have a take profit or stop loss, then do so, but it is not part of the system and will only result in less profits and more drawdowns.
Some things to mention:
. I think $5000 and 500:1 is enough to place a 0.10 lot order on the entire market. It doesn't matter whether you have a commission account or a no-commission account. It doesn’t matter if your broker doesn’t have good spreads. It doesn't matter if your broker is an ECN, market maker, etc.
I will continue to clarify issues by posting scripts, indicators, and screenshots as questions or comments develop.
This should be obvious, but we are on a public forum, so please do not take this as financial advice of any kind.
Happy trading and green points to everyone
The number of open trades and pending orders in the IC market is limited to 200, and since I am trading the entire market of AUD, CAD, CHF, EUR, GBP, SGD, JPY, I will reach close to 200 in a week. For me, this means placing pending orders starting on Monday, continuing up to and including Friday, and then closing all orders before Friday's close.
The system is simple, just place an order on TE, no need to take profit or stop loss. If you decide you must have a take profit or stop loss, then do so, but it is not part of the system and will only result in less profits and more drawdowns.
Some things to mention:
. I think $5000 and 500:1 is enough to place a 0.10 lot order on the entire market. It doesn't matter whether you have a commission account or a no-commission account. It doesn’t matter if your broker doesn’t have good spreads. It doesn't matter if your broker is an ECN, market maker, etc.
I will continue to clarify issues by posting scripts, indicators, and screenshots as questions or comments develop.
This should be obvious, but we are on a public forum, so please do not take this as financial advice of any kind.
Happy trading and green points to everyone
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