Trading with multiple stops and targets
Posted: 10 Feb 2016 10:02
Multiple targets and stops
The NanoTrader trading platform is without equal when it comes to handling multiple stops and targets (also called fade in - fade out):
• There is no limit on the number of stops and targets that can be combined.
• The intelligence managing the stops and targets is remarkable. Even if you make a mistake it is very difficult to shoot yourself in the foot.
• Setting up multiple stops and targets is easy.
• A set-up can be saved as a study for future use.
• Multiple stops and targets can be set and managed from the chart.
• Once orders are placed, they can always be changed to another price level by sliding them in the chart.
Multiple stops and targets are only available in the NanoTrader Full. They are handled by the TradeGuard function and can be used in CFD, forex and futures trading.
In this example the trader has a 5 targets (sell limit orders) and 1 stop (sell stop order). As the next step, either the market goes down and reaches the stop, the position will be closed and all 5 target orders will be cancelled automatically, or the market goes up, reaches the first target, 1 lot is sold and the order size of the stop will be automatically reduced from 5 to 4 lots.
Tip: every client has a permanent demo account. If you have not yet worked with multiple stops and targets it is best to practice and test first on your demo account.
The NanoTrader trading platform is without equal when it comes to handling multiple stops and targets (also called fade in - fade out):
• There is no limit on the number of stops and targets that can be combined.
• The intelligence managing the stops and targets is remarkable. Even if you make a mistake it is very difficult to shoot yourself in the foot.
• Setting up multiple stops and targets is easy.
• A set-up can be saved as a study for future use.
• Multiple stops and targets can be set and managed from the chart.
• Once orders are placed, they can always be changed to another price level by sliding them in the chart.
Multiple stops and targets are only available in the NanoTrader Full. They are handled by the TradeGuard function and can be used in CFD, forex and futures trading.
In this example the trader has a 5 targets (sell limit orders) and 1 stop (sell stop order). As the next step, either the market goes down and reaches the stop, the position will be closed and all 5 target orders will be cancelled automatically, or the market goes up, reaches the first target, 1 lot is sold and the order size of the stop will be automatically reduced from 5 to 4 lots.
Tip: every client has a permanent demo account. If you have not yet worked with multiple stops and targets it is best to practice and test first on your demo account.