buy sell pending order ???

[yazar ilyas]

[trader.philipps]

@yazar-ilyas Could you explain your question a bit?

[yazar ilyas]

I want to place an up and down pending order at the transaction price. (Stop buying) What should I do to open the sales order when the purchase is stopped.

[yazar ilyas]

[yazar ilyas]

[roar]

Just place a sell stop at the level of buy SL, and vice versa?
But realize that you will always buy the top and sell the bottom, not very profitable.

[trader.philipps]

@roar Well that depends on the pattern to trade. If there's a flag or trend channel and you try to catch the breakout, you would take into account some small losses and count for the big brekout. But knowing that consolidation usually will have 5-7 waves, you might be right with your assumption.

[roar]

@trader-philipps Yeah it surely depends on the pattern.
Its just that diagram talking about some mystical "recovery zone" and both ways trading, it looks very much like there is no downside to that strategy. There is always a downside.

[trader.philipps]

@roar Well, the downside about recovery zone is that you need to increase volume and hence sometimes equity is exhausted.

[yazar ilyas]