Trading order types

Advanced order types

In this post, I describe how to use trading order types. When trading forex and other markets, we would like to automate order execution to exclude emotional trading factor. We can achieve this with use of advanced order types that are integrated into Order management tool.
Forex order types and advanced order types are available with one click trading strategy deployment on your chart. Strategy is easily finetuned with graphical objects like rectangles, trendlines and horizontal lines. For example, this way trader can adopt price levels for Metatrader order types that are very advanced orders and fully automated trading strategy.

List of advanced order types:

Click on trading order type to navigate to order description:

Reversal breakout order

I use Reversal breakout order when I am expecting that fresh supply demand level reverse a price. This function allows me to filter out failed trades, where price goes straight trough fresh supply demand zone without any reaction. With Reversal breakout advanced order type, positions are opened only if Breakout ON line touched. After that, price then react from this level. One of my favorite advanced trading order types.


Pullback entry order

Pullback entry order is mt4 mt5 order type that allows trader to get better price inside Order box and lower risk of trade. This advanced order type comes into play in volatile market conditions or lower timeframes where price can spike into supply demand zone. This fast reaction deep into the zone can be used in our favor and we can capture the better price at (1). Positions open at (2) only if price react certain % inside order box (25% in example below). If price go straight trough Order box, then position is not opened and we prevent a loosing trade which improves trade win ratio. Above all, I really like this mt4 order types and mt5 order types in my trading strategy.


Liquidity trading strategy

Liquidity trading strategy is my favorite way of trading. It really improve my trading win ratio because it filter out traders where price goes directly to Order box (fresh supply demand zone). One of my criteria to risk more than 1% of account balance is exactly liquidity trading strategy approach. Therefore, it follows the institutional trading strategy way of advanced trading method.
Now with this liquidity trading automation with OTO order technology, it really gives me trading edge on the market. After Detected market liquidity, I can decide to automatically create one of 3 advanced order types (Sell ON, Pullback entry, Reversal BO).


Price action trading strategy

With price action trading strategy we open positions only under our conditions. Delete box line protect Demand level before price consuming fresh orders before it reaches buy ON line. After that, I can be sure that price action needs to happen, to enter the market. If price go too far above buy ON line, to the buy OFF line, then for me this trade is not valid price action strategy anymore. This kind of metatrader order types gives me easy and relaxed price action trading approach. Forex order types locations are usually very well planned by institutional trader.

Advanced forex strategy

ON line with OTO order - One Triggers the Other

From version 12.7 there are 3 different order types available when ON line is touched by price.


Quasimodo trading strategy

Quasimodo trading strategy search for Quasimodo zone inside Order box. When this zone found, trader receive alert. With click on Execute button, we can automate Quasimodo trading. The QM zone is then changed to activated Order box.
On picture below, there are a lot of Order management input parameters, which allow Quasimodo trader to fully customize Quasimodo strategy. In conclusion, with such advanced order types, we have more freedom with our trading adventures.


Sell second top & Buy second bottom

Trading double top and trading double bottom strategy is very effective when we would like to see some reaction from level, before entering the trade. This sell second top and buy second bottom trading order gives us advantage to automatically enter the market after price reacts from the level.
On picture below, the Order box enabled at (1) and positions are opened after price retrace at (2). After this we can hope price go to final target, giving us winning trade. I hope you are excited about all this trading order types that are part of TBOM.

Advanced price action trading

Fakeout trading strategy (false breakout)

Fakeout trading strategy is one of the most complex function to implement, because trader anticipates fakeout trade (false breakout) inside Order box. If such price action exists, then this result in thinner Order box with bigger lot size but same risk percentage. This fakeout trading strategy can give monster trades with huge risk reward winning trades.
For example, you can see the explanation of this trading order type.


Hidden order trading

Meanwhile, when using Trading box Order management, then we can use hidden order trading. Order box is rectangle that is presenting order block (virtual market order) that is not visible to brokers or other traders who have option to spy market liquidity.
With use of hidden orders in mt4 mt5, trader can place big lot size virtual market order, without anyone knowing. The advantage is also that such orders can be placed or removed even when markets are closed. Above all, we only need to ensure metatrader terminal is running and internet connection is stable. Some traders call this also market limit order or hidden limit order.

Download: Order management MT4
Download: Order management MT5