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By potts
#23204
My strategy is a back to lay system.

Back at a price, then lay 50 ticks lower.

If the price isn't moving very fast, I would like to abandon the trade.

Let's say, I expect it to move 20 ticks within 5 mins. If it does't, I want to close the trade.

How do I do this?
By potts
#23226
But this would just trade out after X minutes or 50 ticks, regardless of whether it has or hasn't moved 20 ticks. Or have I misunderstood something?

Just to repeat, my system is to trade out after 50 ticks, or after 5 mins if it hasn't yet travelled at least 20 ticks.