Track 'n Trade Autopilot Plug-in
Step 2 - Entry
Once you receive an entry signal from your indicator, or indicators, how do you want the Autopilot to enter the market?
This is where you choose how to enter the market. Do you want to jump in with a Market Order, or do we want to use a Stop Order, or maybe a Limit order, these choices are made by you, the trader, with assistance from Track ‘n Trade in determining the optimal choice, again through the use of the Q-Calc optimization buttons, you can compare one strategy against the other, to discover the best results.
Let’s talk quickly about the Ticks, plus or minus signal bar high or low feature.
This feature allows you to specify that you want to drop your stop entry order any number of ticks above, or below the signal bar of your chart.
A Market order, of course, will get you into the market immediately, but by using the Stop order entry strategy, you can specify how far above the trigger bar you want to place your order, requiring the market to continue in the trend before executing an entry.
We also have a gap filter, just in case the market gaps you can still execute an entry, as long as it gaps within the specified parameters. If it gaps outside the setting, the order will not execute.
The thrust bar and inactive market signal prevention filters help weed out any over exuberant markets, as well as any neutral, or non-trending markets, both of these filters can be added to, and optimized to your trading strategy. These filters help to keep you from unknowingly getting caught in a wild news event, or a stagnant non-trending market.
Are you bullish the market, or bearish? Within Step 2 of the market entry strategy, you can choose to take long, or short positions only, or, how about basing your system off of the trend of the market, established from a different indicator, on a totally different timeframe, or even a totally different chart or market altogether, allowing you complete control and flexibility over your trend trading strategy, and intermarket relationships.
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