Great. Thanks a lot CJ - that clears up my confusion!Captain Jack » Sat Oct 31, 2015 1:59 pm wrote:
If you understand how the script works that I use in fast moving markets, then you would understand those pending orders.
My script fires out a set number of pendings, but it also fires out an order, behind me. That way, should the MM or those who move price, decide to double dip and go back to accumulate more orders, my pending order will also fill and accumulate more orders for me. Most times, when price trips your stops, and closes your trade for a loss, the trader looks elsewhere for his next trade. In essence, this is what they want you to do, because you have chosen the correct trade and they want you out of it. After you are stopped by a reversal in price, they reverse again and now blow right past your original trade entry zone. The backup order, if triggered will more than cover any SL losses in my orders should they pull this move.
-CJ-
Now I seem to recall having read something you'd said along these lines before, so apologies if I've made you repeat yourself. I didn't want to ask stuff that's already been said multiple times.
