Discuss cTrader.com (by Spotware.com)

[Balladotus]

You can only close positions one-by-one with a single click in MT4. in cTrader, you can double the volume or reverse your current open positions with one click. And there’s a panic button that is helpful if something goes wrong, and you want to quit the market immediately. It’s useful when you don;t understand what’s happening, while the quotes start jumping like crazy.

 

[Mnefyn]

ctrader’s smart trailing stop is a powerful tool when you catch a trend and don’t know where to take profit. why cut a profitable deal if it keeps going in the right direction?
advanced protection and additional types of postponed orders are also available in ctrader, b-booking brokers would not appreciate that lol

 

[Balladotus]

cTrader has additional postponed order types that are not available in other platforms. They are called buy stop limit and sell stop limit. It’s possible to specify an entry price and an affordable range in pips. If markets are volatile, it often happens that the software misses the chance to enter the market with a postponed order at a certain price. It could be a missed chance also if the price aaction reversed a couple of pips above/below your desired entry. Operating with price ranges increases the chance for the platform to fulfill the postponed order. By the way, stop limit order also has an expiration time, so it will be deleted automatically after some time, if not executed. Nice feature.

 

[Painskin]

I think this type of order can be used for the breakthrough strategy. Like you bet that if the market goes through a significant support/resistance range, then there’s a likelihood that the price action will continue in the same direction as some stop-loss orders might be triggered. Besides, you can set if-done, take profit and stop-loss orders, so if the market reverses back, you’d cut your losses. This approach might work on volatile currency pairs, although the profit-to-loss ratio might be quite low.

 

[Mnefyn]

A small profit is better than any loss, hahaha
I like the idea as it happens that it’s tough to predict the exact reversal point. missed entry chances do not add optimism. I remember a similar situation when I was trying to find a reversal point of the GBP/USD pair. It was understood that the market was extremely oversold and a healthy correction had to come sooner or later. Unfortunately, I made a mistake for 5 pips only, and the order was not executed. If I had a chance of working with sell stop limit orders, I’d have caught a nice trend.

 

[Balladotus]

Stop limit orders can also be used for the mean reversion strategy. I know that this approach might be dangerous as you will be trying to catch a falling knife at the end of the day. But if the account balance is deep enough, and you have enough skills to manage trades that appear to stay under water for some time, then it’s worth trying.

 

[Painskin]

I suppose you mean setting buy stop limit order within a price range that is below the current price? But what are you going to do if the price keeps falling? It may breach a strong support level and keep plunging. You should set an if-done stop-loss order in that case.

 

[Balladotus]

No, I mean that if the price keeps going down, I will keep buying the same asset in the same direction. THere are several conditions. First of all, the next trade should be at least 100 pips away from the first one. The second condition is to close the bottom deal when the price reaches the entry point of the first one. cTrader has a cool button to double up the trading volume in one click, but I prefer setting postponed orders. It’s not so hard to calculate resistance and support levels.

 

[Mnefyn]

Oh that approach is not for me, definitely. I will keep buying it every 10 pips haha. No way, I’d rather set stop-loss orders and limit my possible losses instead of watching how it grows.

 

[Balladotus]

As I said, the strategy is dangerous. It’s not for all, I agree. But I am sure you have noticed that volatile currency pairs often come back to breach levels on retracements. Another point is that if you are opening trades in accordance with the general trend. It’s not easy to find out where exactly the rebound will come to an end. But if you operate with little volume per trade, then it’s not so risky. My point is that stop limit orders can be used in different conditions.