Chart Trading Orders and Strategies: Difference between revisions
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Chart Trading Orders and Strategies (view source)
Revision as of 19:56, 19 March 2012
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# Enter Fade template name. | # Enter Fade template name. | ||
# Click '''OK''' | # Click '''OK''' | ||
==Breakout Up/Fade Strategy== | |||
[[Image:Breakout Up Fade Strategy on the chart.png|thumb|right|Breakout Strategy on the chart]] | |||
This strategy is a combination of the breakout and fade strategies defined above, and it is used when the trader expects the price will go up. This strategy will place a buy stop above the current price and a buy limit order below the current price. The breakout can be activated if it happens, but also catch the fade if the price falls. | |||
===Appearance=== | |||
Breakout Up/Fade Strategy orders are displayed as sienna markers on the chart connected to the order price labels on the price scale with a dotted line. | |||
Default Breakout up/fade strategy order markers color and connecting lines length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu. | |||
===Creating Breakout Up/Fade Strategy orders=== | |||
To create Breakout up/fade strategy orders: | |||
* Drag-and-drop the Breakout Up/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/19.png to the chart; or: | |||
* Right-click at the desired price level on the chart to see the shortcut menu, select '''Place Order''' and then click '''Breakout Up/Fade Strategy'''; or: | |||
* Right-click the Breakout Up/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/19.png in the '''Place Order''' menu to see the shortcut menu and click '''Apply Strategy'''. | |||
* Double-click the Breakout Up/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/19.png in the '''Place Order''' menu. | |||
===Breakout up/fade Strategy Parameters=== | |||
To modify default Breakout up/fade strategy parameters: | |||
# Right-click the Breakout Up/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/19.png in the '''Place Order''' menu to see the shortcut menu. | |||
# Click '''Edit'''. | |||
# Modify '''Breakout''' and '''Lower limit''' values in '''Breakout At''' and '''Lower Limit At''' boxes. | |||
'''Breakout''' and '''lower limit''' levels are ''interrelated'' with price offsets. You may modify either level or the price offset. | |||
Click the '''Price Level''' button or the '''Price Offset''' button to switch between entry modes. | |||
Price offsets can be indicated as ticks or %. To change indication type, click the '''Tick/Percent''' button. | |||
Click '''More Parameters >>''' to show '''Qty''' and '''Time In Force''' fields (for more info see [[Chart Trading##Setting Order Quantity|Setting Order Quantity]] and [[Chart Trading#Setting Time in Force|Time in Force]] sections). | |||
===Saving as Template=== | |||
To save the parameters as a template: | |||
# Open '''Strategy Parameters''' window by one of the following methods: | |||
#* Right-click the Breakout Up/Fade strategy icon http://www.multicharts.com/img/wiki/strategies/19.png in the '''Place Order''' menu to see the shortcut menu, then click '''Save as Template'''; or: | |||
#* Click on the '''Save as Template''' button in the '''Place Strategy''' window when applying the strategy. | |||
# Modify default '''Breakout Up/Fade''' parameters. | |||
# Click '''Save'''. | |||
# Choose the '''Breakout Up/Fade Template''' icon. | |||
# Enter Fade template name. | |||
# Click '''OK'''. | |||
==Breakout Down/Fade Strategy== | |||
[[Image:BRKOUT_OUT_Chart.png|thumb|right|Breakout Strategy on the chart]] | |||
This strategy is a combination of the breakout and fade strategies defined above, and it is used when the trader expects the price will go down. This strategy will place a sell stop order below current price and buy limit above current price. The breakout can be activated if it happens, but also catch the fade if the price rises. | |||
===Appearance === | |||
Breakout down/fade strategy orders are displayed as dark cyan markers on the chart connected to the order price labels on the price scale with a dotted line. | |||
Default Breakout down /fade strategy order markers color and connecting lines length can be modified in [[Chart Trading#Appearance|Format Chart Trading]] menu. | |||
===Creating Breakout Down/Fade Strategy orders=== | |||
To create Breakout down /fade strategy orders: | |||
* Drag-and-drop the Breakout Down/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/22.png to the chart; or: | |||
* Right-click at the desired price level on the chart to see the shortcut menu, select '''Place Order''' and then click '''Breakout Down/Fade Strategy'''; or: | |||
* Right-click the Breakout Down/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/22.png in the '''Place Order''' menu to see the shortcut menu and click Apply Strategy. | |||
* Double-click the Breakout Up/Fade Strategy icon http://www.multicharts.com/img/wiki/strategies/22.png in the '''Place Order''' menu. | |||
[[Category:Manual Trading]] | [[Category:Manual Trading]] |