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Targets: EurUsd, UsdChf :35 pips; GbpUsd, UsdCad and UsdJpy : 40 pips
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How to place conditional orders (MetaTrader 4)


Pending Order
Pending order is the client's commitment to the brokerage company to buy or sell a security at a pre-defined price in the future. This type of orders is used for opening of a trade position provided the future quotes reach the pre-defined level. There are four types of pending orders available in the terminal:

  1. Buy Limit — buy provided the future "ASK" price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;

  2. Buy Stop — buy provided the future "ASK" price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;

  3. Sell Limit — sell provided the future "BID" price is equal to the pre-defined value. The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall;

  4. Sell Stop — sell provided the future "BID" price is equal to the pre-defined value. The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.

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Orders of Stop Loss and Take Profit can be attached to a pending order. After a pending order has triggered, its Stop Loss and Take Profit levels will be attached to the open position automatically.

Trailing Stop

Stop Loss is intended for reducing of losses where the symbol price moves in an unprofitable direction. If the position becomes profitable, Stop Loss can be manually shifted to a break-even level. To automate this process, Trailing Stop was created. This tool is especially useful when price changes strongly in the same direction or when it is impossible to watch the market continuously for some reason.

Trailing Stop is always attached to an open position and works in client terminal, not at the server like Stop Loss, for example. To set the trailing stop, one has to execute the open position context menu command of the same name in the "Terminal" window. Then one has to select the desirable value of distance between the Stop Loss level and the current price in the list opened. Only one trailing stop can be set for each open position.

MetaTrader 4 Terminal FOREX, CFD, Futures, and Stocks

click here to see how to place conditional orders

THE SYSTEM


The logic behind the system is simple to understand and easy for any trader to implement : traders use our system to determine critical support and/or resistance as well as accurate entry levels. Our mapping method works on both market conditions, when trending and on sideways conditions.

All orders are established on the New York open at 8am Eastern Standard Time, and are assigned a target and stop loss. All trades are to be exited indiscriminately at 4pm Eastern Standard Time on the same trading day should the objective not be met in the allotted time (no overnight holdings).

All orders must be removed at 4 pm Est. The model provides another way of improving the exit: Effective trailing stops can significantly increase the net profits gained by allowing us to maximize and capture large profitable trades [see +].

The strategy is technically based and looks to yield approximately 1 to 6 signals per day. Returns are listed on this website [see +].
 

London is the largest and most important dealing center in the world, with a market share at more than 30 percent. New York is the second largest FX marketplace, encompassing 20 percent of global Forex Market volume turnover.

The FX markets tend to be most active when the hours of the world’s two largest trading centers overlap. The range of trading between 8 am EST. and 4 pm EST constitutes on average 70 percent of the total average range of trading for all of the currency pairs during the European trading hours and 80 percent of the total average range of trading for all of the currency pairs during U.S. trading hours. Just these percentages alone tell day traders that if they are really looking for volatile price action and wide ranges and cannot sit at the screen all day, the time to trade is the U.S. and European overlap.

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