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Specification
Entry long + short
General setting options:
Timeframes: e.g. 1min, 5min, 15 min, 60 min
Set a time (e.g. 14:05 / 02:05 pm).
- Opening course e.g. 14:05 / 02:05 pm as starting point.
Defining a distance: e.g. 50 points.
- When the market is e.g. 50 points away from the opening price a position is opened in the direction of the opening price (e.g. 14:05 / 02:05 pm).
Stop:
After opening the position, a fixed stop is used. (e.g. 25 points)
Target / Take profit:
After reaching the opening price, the position is closed.
Re-Entry:
No re-entry
Risk:
A fixed amount for each position opening. E.g. $20, position size must be determined automatically.
Example short entry(1):
Timeframe: 5min Chart
Time: 14:05 / 02:05pm = market price e.g. 10.100
Distance: 50 points
Stop: 25 points
Target: Opening price
short entry:
The market reaches 10.150 = opening a position = short entry, stop at 10.175, target: 10.100
Example long entry (2):
Timeframe: 5min chart
Time: 14:05 = market price e.g. 10.100
Distance: 50 points
Stop: 25 points
Target: Opening price
e.g. long entry:
The market reaches 10.050 = opening of a position = long entry, stop at 10.025, target: 10.100