Which type of order is better for a breakout strategy?

[Vijith_Soman]

Most of the times when i use Limit order it never get executed as the price runs away.

[MaverickRabidDogIa]

Use SL OR SL-M order for breakout strategy.

[portfolioplus911]

@Vijith_Soman

Most of the times when i use Limit order it never get executed as the price runs away.

Anyone here uses NSE NOW desktop terminal?

I use NOW TRADER. Ultra fast order execution , the order book gets updates 1/2 a second earlier on the NOW trader than any other platforms. NOW is useful for breakout traders who often find their square off orders not getting filled on other retail platforms when trading breakouts. Volatility or no volatility, election day, budget day, bandh day, etc no excuses, NOW is robust, order placed and filled in 2-3 seconds. NOW is very basic with no BO facility, CO is available though. Using on…

For breakout Traders, if you are looking at the order book and then placing the limit orders, by the time you see the price on your order book the price does not exist in the exchange.

This is because most trading platforms displays order book with a 1/2 - 1 sec delay. This does not affect average traders, but for breakout traders it matters.

[Hanker]

A breakout is a price movement of a currency pair through any known resistance level and it is follwed by the high volume and volatality. You need to buy the currency pair when the price break above the resistance level. Is it helpful guys?