How to flexibly use the OCO pending order strategy to trade

{}Posted in2023/2/25 12:21:02 | 7Browse

Traders must have a variety of strategies to bestforexrebatecompany used to quickly adapt to the ever-changing foreign cashback forex market today we will focus on the OCO pending order strategy, first review how to use the rebatesforexbroker packet line to trade What best forex rebate company the inner packet line? Inner packet line, one of the candlestick pattern, its highest price does not exceed the highest price of the forexrebatecommission fxrebatecentral day, the lowest price is not lower than the lowest of the previous trading day As shown in the figure below, December 16 that closed an inner packet line, the exchange rate is located in December 15 exchange rate between 1.1548-1.1673 How to use the inner packet line for trading The use of the inner envelope trading breakthrough due to the inner envelope all surrounded by the previous trading day, the highest price of the previous trading day is todays resistance, break the resistance to open a position to buy; the same way the lowest price of the previous trading day is todays support, the lower break can open a position to sell Currently, the FOREX provides a strategy that can be automatically traded OCO; this tool can help traders in the appearance of the inner envelope signal The OCO strategy will automatically open a buy position after the exchange rate breaks yesterdays high or automatically open a sell position after the exchange rate breaks the previous trading days low, while canceling another corresponding pending order When the target profit is reached, the trader can choose whether to close the profit out of the game & nbsp nbsp;Determine the risk-reward ratio Finally, and the most important point is to set the risk-reward ratio using the OCO indicator under the inner envelope, it can be simplified to choose the stop-loss level between the OCO pending orders For example, the spread between the buy and sell prices is 125 points, the stop-loss point should be 62.5 points plus traders often use the risk-reward ratio of 1:2. It is easy to calculate the target profit should be set at 125 points After determining the risk spread, you need to consider the overall risk

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