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View Full Version : Reversing a Position on Breakout or Breakdown


Alfred
05-10-2005, 03:36 AM
Say you are short 1 contract close to the top of a tick chart pattern (and your buy stop is 6 ticks above the current price) and you suspect a breakoutsay 3 ticks above the current price may occur and you want a seperate resting order to get you reversed when that price is hit. What is the best way (simple) to do this in the Dome? And...should your stop on the short position be moved to at or below the desired breakout price before placing the second buy strategy?

Thanks!

NinjaTrader_Ray
05-10-2005, 04:02 AM
You can simply enable Reverse at Stop by clicking the RS label on the left side of the dom when a strategy is active. It does not matter which order you do this in, before or after moving the original stop.