So I’ve been using NT8 for a while and never needed these types of orders until I recently changed my strategy and I feel like I’m missing something and it’s driving me crazy a bit. I’ll use some example of what I’m trying to accomplish.
Say for example price is at $100. I know I can use the order ticket to place a buy stop limit so that when price say hits $101 I can trigger a buy limit at whatever price, like $105 or $95. I’m trying to understand why I can’t do that when the stop / trigger price is below? So for example:
Price is at $100
When price gets to $95 I want to trigger a buy limit at $96.
Why does it not allow me to do this and what is the easiest way to accomplish this?
What I am trying to accomplish. With my current strategy I find my zones for entry and usually set limit orders at the price I want, this works most of the time, however, I am trying to refine this to only enter on the bounce back in my direction so my stop doesn’t get wicked before we take off. Perhaps the above isn’t even the best way to accomplish this, should I be looking at the “chase” feature? e.g. if price crosses my stop trigger it would get chased until it rebounds? And if it’s better to use chase here how would I go about setting that up?
Thanks in advance!