Summary
Placing a ticket becomes easier with our four ticket placing methods.
We recommend you check the close price stop-loss consistently to see if it has been displayed on the CosyTrader EA table (especially for the market ticket). You can always resend the close price stop-loss with the TF code if you are not sure you have set it properly.
You might have already noticed that the four types of ticket entries we offer are easy to remember and execute with these settings.
Simply put, for a [A] one-bar pending order, you only need to set the open price. For a [B1] simple pending order and [B2] direct market entry, you need to set both the open price (OP) and stop-loss (SL). To send a direct market entry (B2), you need to follow two steps: first, send any limit order, then set the time frame (TF) code to 0. For a [C] Fibonacci pending order, the OP, SL, and FB code need to be set.
This is the basic way to send these four types of tickets. In the next chapter, we will illustrate how to convert your ticket between the four entry strategies.
| Setting | Entry strategy | |
|---|---|---|
| A | OP | One bar pending order |
| B1 | OP+SL | Simple pending order |
| B2 | OP+SL→TF=0 | Direct market entry |
| C | OP+SL+FB(FB=1~9) | Fibo. pending order |
OP = Open price, SL = Stop-loss price, TP = Take-profit price, TF = Time frame code, FB = Fibonacci retracement code.
Switching between trading strategy
Switching between trading strategies is an advanced feature to further accelerate your ticket entry speed. We didn't go through too much detail here, but you can give it a try. If you have questions, please feel free to give us some advice to add more content related to this topic.
| Strategies conversion | Explain |
|---|---|
| A→B1 | Convert one bar pending order to a simple pending order.[Action] Send the close price stop-loss with the time frame code. |
| A→B2 | Convert one bar pending order to direct market entry with the current Ask/Bid price.[Action] Set TF to 0. |
| A→C | Convert one bar pending order to a Fibonacci pending order.[Action] Set FB to the target retracement ratio. |
| B1→B2 | Convert simple pending order to direct market entry with the current Ask/Bid price.[Action] Set TF to 0. |
| B→C | Convert simple pending order to Fibo. pending order. [Action] Set the FB to target retracement ratio. |
| C→B | Convert the Fibonacci pending order back to a simple pending order.[Action] Set Fibonacci to 0. |
| B→A C→A | Remove SL/TP/TF/FB setting and convert the ticket back to one bar pending order.[Action] Set the TF code to 9. |