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Pending Order Strategy

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Resh1969

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I am testing a pending order strategy on the Cryptoaltum broker with the BTCUSD pair. I have a ladder of BUYSTOPS at certain increments placed. My first buystop was triggered at 21014. If BTCUSD rises over the coming weeks or months and triggers all of my buystops I will closed them out in profit. If BTCUSD falls farther I will add more BUYSTOP orders. A huge profit will be made if price moves higher to the 70000+ regions. It is worth the risk I think. Let's see what happens.

Linkback: https://www.forex.zone/trading-systems/10/pending-order-strategy/3836/
#1 - July 27, 2022, 11:41:46 PM
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aizafx

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I am like to use pending order too, but usually use buy limit or sell limit to adjust risk tolerance, with this way although not all pending order will be touched by the price, but at least I can learn how to minimize the risk. buy stop and sell stop usually used for breakout trading system.
#2 - August 01, 2022, 08:59:29 PM

Resh1969

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I added more BUYSTOPS to my pending order ladder strategy. If price explodes higher it will be very profitable. If price goes lower I'll add more BUYSTOPS. Once a pending order is triggered I'll trail the movement with a stop loss capturing profit.
#3 - October 13, 2022, 07:05:33 PM
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« Last Edit: October 13, 2022, 07:24:03 PM by Resh1969 »

aizafx

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Usually I am use pending order strategy based my analysis about the trend market, there are types trend like rally or strong uptrend and strong downtrend, sideways or flat, price on trading range, using buy stop and sell stop usually when the market in sideways and not yet clear about possible trend, buy limit and sell limit I use on trading range market, while on strong trending looking for retracement.
#4 - November 07, 2022, 09:32:50 PM

Resh1969

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Cryptoaltum no longer let's people from the USA trade so I opened a new set of pending orders with LQDFX. I'm hoping BTCUSD reverses soon so I can make profits from this strategy. Let's see how it goes.
#5 - November 14, 2022, 08:25:37 PM
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PhoenixCoToken

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Quote from: Resh1969 on November 14, 2022, 08:25:37 PM
Cryptoaltum no longer let's people from the USA trade so I opened a new set of pending orders with LQDFX. I'm hoping BTCUSD reverses soon so I can make profits from this strategy. Let's see how it goes.
Is placing a pending order like this not risky, sir? If there is a GAP or a trend, is this PO placed only during the Sidway market or in certain markets?
#6 - December 15, 2022, 11:50:39 AM

Resh1969

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Quote from: OutreachProFz on December 15, 2022, 11:50:39 AM
Is placing a pending order like this not risky, sir? If there is a GAP or a trend, is this PO placed only during the Sidway market or in certain markets?
It is risky but the reward is worth it I think. The worst thing that could happen is it blows your deposit but if price explodes higher you can make 100x your deposit depending on your lot size. I'm looking for price to explode higher to the 70000+ range. I also use a trailing stop to capture profits. The cool thing about this strategy is that the profits will compound the more positions that are triggered.
#7 - December 15, 2022, 04:03:24 PM

PhoenixCoToken

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Quote from: Resh1969 on December 15, 2022, 04:03:24 PM
It is risky but the reward is worth it I think. The worst thing that could happen is it blows your deposit but if price explodes higher you can make 100x your deposit depending on your lot size. I'm looking for price to explode higher to the 70000+ range. I also use a trailing stop to capture profits. The cool thing about this strategy is that the profits will compound the more positions that are triggered.
cool ,, means you do more placing Pending Orders ,, how about the Lot you use every PO position ,1:2 every PO ,?
#8 - December 16, 2022, 01:10:09 PM

Resh1969

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Quote from: OutreachProFz on December 16, 2022, 01:10:09 PM
cool ,, means you do more placing Pending Orders ,, how about the Lot you use every PO position ,1:2 every PO ,?
The more price drops the more Buystops I'll place waiting for price to reverse. I use the min lot setting but that is up to each person. 
#9 - December 16, 2022, 01:23:26 PM

PhoenixCoToken

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Quote from: Resh1969 on December 16, 2022, 01:23:26 PM
The more price drops the more Buystops I'll place waiting for price to reverse. I use the min lot setting but that is up to each person. 
Hmmm... that means you set a trap, pretty good... btw, does this strategy already exist in EA trading?
#10 - December 16, 2022, 01:31:21 PM

Resh1969

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Quote from: OutreachProFz on December 16, 2022, 01:31:21 PM
Hmmm... that means you set a trap, pretty good... btw, does this strategy already exist in EA trading?
I dont know if there is an ea that does this. I'm sure there's one out there that works like this. There's alot of waiting with this strategy so having an EA run 24/7 wouldnt make sense in my opinion. You can easily just set pending orders manually.
#11 - December 16, 2022, 02:01:54 PM

PhoenixCoToken

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Quote from: Resh1969 on December 16, 2022, 02:01:54 PM
I dont know if there is an ea that does this. I'm sure there's one out there that works like this. There's alot of waiting with this strategy so having an EA run 24/7 wouldnt make sense in my opinion. You can easily just set pending orders manually.
Hmmm,what about the session used, is there a specific session to do this strategy?
#12 - December 16, 2022, 02:06:55 PM

Resh1969

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Quote from: OutreachProFz on December 16, 2022, 02:06:55 PM
Hmmm,what about the session used, is there a specific session to do this strategy?
Session doesnt matter since I'm using it on BTCUSD which trades nonstop. Its also volatile and can explode higher anytime which is perfect for this strategy.
#13 - December 16, 2022, 02:59:50 PM

PhoenixCoToken

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Quote from: Resh1969 on December 16, 2022, 02:59:50 PM
Session doesnt matter since I'm using it on BTCUSD which trades nonstop. Its also volatile and can explode higher anytime which is perfect for this strategy.

Hmmm,, I thought you were doing forex trading... Yes, that's right, the BTCUSD market, there were lots of surprise trends in the pair. 

#14 - December 17, 2022, 09:58:44 AM

Resh1969

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Quote from: OutreachProFz on December 17, 2022, 09:58:44 AM
Hmmm,, I thought you were doing forex trading... Yes, that's right, the BTCUSD market, there were lots of surprise trends in the pair.
You can trade BTCUSD on mt4 or mt5 with alot of brokers. It's pretty much the same as trading currencies except it's more volatile usually.
#15 - December 17, 2022, 10:03:51 AM
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