Wait time

Discussion in 'Index Futures' started by trader1974, Jun 21, 2019.

  1. tomorton

    tomorton

    I never open a trade live, only through a pre-set order - if price reaches a certain level. As I'm long-term trading these are daily highs or lows, which some might call minor support or resistance: either way its a kind of confirmation with a delay in-built, except that it is price-driven, not time-driven. The cost of the confirmation delay is that price has already moved towards the confirmation level before I could get in.

    The order stays in effect until the next daily bar prints. Although I use daily bars, I don't see why this wouldn't be of value also on intra-day time-frame charts.
     
    #11     Jun 22, 2019
    trader1974 likes this.