Order Types

General Order Types
A lot of times people confuse themselves with order types.
There are 3 basic types of orders:-
1.Market Order - To buy or sell at market price
2.Limit Buy or Limit Sell - Limit Buy is to place order to buy at a price that is lower than current price. Limit Sell is to place order to sell at a price that is higher than the current price. This type of order is used when you are trading pullbacks.
3.Buy Stop or Sell Stop - Buy Stop is to place an order to buy at a price that is Higher than the current price. Sell stop is to place an order to sell at a price that is lower than the current price.This type of order is used when you are trading Breakouts.

EURGBP view

The pair is in a bearish trend. Once it breaks below 0.7000 we can look for further shorting opportunities

Heiken Ashi Simple Strategy

Heiken Ashi Strategy

This is a simple yet very effective trading strategy that works on all timeframes and all pairs.

Chart Set Up - Heikin Ashi Candlesticks

Multiple TF Analysis.

One window will have the Daily HAC and the other window will have the intraday HAC. It can be any timeframe, However i prefer to use 1Hr charts as it gives better results.

Step 1 - Check the Daily HAC. IF the current and previous bar is Bearish, we will only Sell and if the current and previous bar is Bullish, we will only Buy.

Step 2 - Go to the lower TF HAC and wait for the same HAC bar to form. i.e if Daily HAC is Bearish, then wait for Bear candle to form and vice versa for Longs.

Step 3 - Place a sell stop or a buy stop order at the low/high of the bar. Stop Loss at 2 Bar High/Low. Keep Trailing it to 2 Bar high low once you are entered into position.

That's it folks. Successful strategies need to be simple.

thanks