Hi,
just two dumb newbie questions but i would be grateful if someone can help to clarify it...
In article "Scalp Trading methods" Kevin Ho writes the followings:
Entry: Enter on a buy stop 2 tics above the high of the first 15
min range or Enter on a sell stop 2 ticks below the low
of the first 15 min range.
1.) What does "buy stop 2 tics above the high of the first 15
min range" exactly mean???
Does it mean that i look at the high of the first 15 min, then i wait 2 tics and if they are higher than the high of the first 15 min? But how do you do that with a "buy stop"?? thought stop is specified in pips...Then maybe he mean "two pips above the high of the first 15
min range"?
2.) The "or" means that i create a buy stop for "highs" and sell stop for the "lows" at the same time?? And then wait which one will be hit and cancel the other (if this is not done automatically)??
I would appreciate your comments, thank you for your help in advance....
All the best, xrbor
just two dumb newbie questions but i would be grateful if someone can help to clarify it...
In article "Scalp Trading methods" Kevin Ho writes the followings:
Entry: Enter on a buy stop 2 tics above the high of the first 15
min range or Enter on a sell stop 2 ticks below the low
of the first 15 min range.
1.) What does "buy stop 2 tics above the high of the first 15
min range" exactly mean???
Does it mean that i look at the high of the first 15 min, then i wait 2 tics and if they are higher than the high of the first 15 min? But how do you do that with a "buy stop"?? thought stop is specified in pips...Then maybe he mean "two pips above the high of the first 15
min range"?
2.) The "or" means that i create a buy stop for "highs" and sell stop for the "lows" at the same time?? And then wait which one will be hit and cancel the other (if this is not done automatically)??
I would appreciate your comments, thank you for your help in advance....
All the best, xrbor