How To Use The Stop Plugin

darrell · 2014-03-05 03:51:32 UTC

(Note the stop trigger plugin is free for demo no cost no card no billing and currently no time limit on the free use of the trial version. It is $50 for live and is included free with P3 and Elite subscriptions.) The link to activate the demo or to pay for just it is here: http://apexinvesting.net/member/signup/index/c/cT8JJRjf0

After you subscribe to the demo or live it will instantly work with the plugin installed.

NOTE: The stop plugin only works with google chrome. To see more threads on the scanner and plugin click here: http://apexinvesting.net/forum/nadex-scanner-tutorial-videos-questions-12/

If you subscribe to it for $50 and then later upgrade to anther plan you must let us know so we do not continue to bill you for it when you get it free with elite/p3.

To use the Stop Trigger Plugin First Click the Use Stop Trigger Function Button In The Top Right Corner

You can use the Stop Trigger For You To Automatically Submit a Limit Entry Order or a Limit Exit order When Parameters are Met

It may seem complex but its actually rather simple. Take a few minutes to go over it place some demo’s with it and you will see how invaluable it is.

You can use it to

Enter when the market hits x price (like on MVP or APEX Elite trades).
You can use it to exit when market goes against you to help manage risk and protect profit (ie on premium collection on MVP TTPC, MVP EPC, Boomerang, Or trailing stops to protect profit ie on Apex Elite).
You can use it so you are more disciplined on risk/profit management versus having to make the decision in the heat of the moment with P&L going up/down
You can use it to help you manage multiple trades (ie looking at once chart, on phone, go to the bathroom etc… and don’t notice market flies against you and take a much larger loss (just 1 contract on 1 premium collection trade - can cover the cost of the plugin for an entire month if it helped you exit the trade either by not missing or lack of discipline)
You can use it to enter, and set a take profit once trigger is hit at the same time

A) Convert Back to Regular Limit with No Strop Trigger (versus having to open a new ticket to do a limit) B) If you choose live/demo in the scanner (top right) it will open a live or demo ticket. Note on open positions you can use the "stop watch icon next to it to directly open a stop order without having to hit the convert to stop trigger button) C) Important links you should review and be familiar with

Direction: Do you want to submit a buy or sell limit order…
Size: How many contracts do you want the limit order to be for?
Trigger Price: When the Indicative Index hits the trigger price then submit the order. Simply choose what price you want the entry limit order or exit limit order to be triggered when it touches this price.

(NOTE: this is a huge advantage as the nadex indicative uses the last 25 trades (mid quotes on forex) and the average of the middle 15 to derive the indicative. This filters out spurious spikes that had only a couple trades or quotes there. So you don’t get in a trade by 1 tick and it falls or stopped out of a trade by a tick and then it goes back in your favor etc… (it may cost you a few bucks but it can save from many bad entries that lost, or taking losses that would have won). You can always make it lower if you don’t want to take advantage of this but all of our traders state this is one of their favorite features.

(IMPORTANT: Make sure the indicative is quoting (changing etc…) as you don’t want to submit a stop trigger based on a price if its not changing/quoting - ie if there is some sort of data issue etc…

Worst Limit: This is how far above or below you want the limit order to be submitted. A limit order means buy at this price but not a penny higher. Or buy at this price but not a penny less. So if you put in 10 and the price is at 40 when it hits y our trigger it will submit the order at 50. Why? It does this so the order does not get stuck in working buy buying above the market (you are saying i want to buy at the best price available but not any higher than this price and you will get filled at the best quote available at that time for the number of contracts available for it).
Stop Monitoring Time: On binaries there is usually a dark zone (you can trade but market makers pull quotes). This is not the same for spreads. This is due to a binary has to go to 100 or 0 by expiration. Therefore pricing it in the last 2 minutes is close to impossible so the market makers won’t quote (nadex is not a market maker). However, other traders can take the other side of you trade. Most traders leave this at 2 minutes as they want it to stop submitting so they don’t get some odd random fill in the last 2 minutes. You could make it 0 or even larger if you wanted to.
The market may fly up or down fast especially when closer to expiration or during news etc… You may decide you don’t want to enter just at any price you have a max or minimum you want to enter at. Or you may decide that you don’t want to exit at near max loss on a premium collection as the market flew fast. So you can use a worst limit price to say if i put 10 (and lets say I assume the price to be 40 when it hits my trigger) I know it will submit an order at 50 if the market is at 40 when it hits my trigger. But just in case it flies throgh my trigger price I don’t want to buy any higher than 60. That is where I would put 60 in the worst limit.
Sometimes a trader “takes out the book” meaning they take up all the contracts. Or some other thing happens and there is no liquidity. Ideally there is at least 1 contract trading with a quote so your 10 tick offset will be based an ideally reasonable price. If the market has no quote for a minute when your trigger price is hit. And you have no worst limit and the price is currently - then it would submit a buy at 10 and you would not get filled, or get an error or get a horrible price. So you want there to be some liquidity if submitted. This is defaulted at 1 as it only reads the top level of bid/offer size and a trader may have a better quote than the market makers bid/offer but only 1 contract. You can make it larger but this may be an issue.
Same as the above but say the 10 tick offset is way up at 80 so its going to submit your worst lmit price of 60 it will ensure there is a at least x number of size available being quoted (ie 1 as the default)
You can click explain to see what your parameters mean. After clicking it just click OK to close the message box and return to the stop trigger plugin input area.

You can click activate to activate the stop trigger

You can also amend it versus having to close the stop trigger and open a new one by clicking Amend/Deactivate.

This is very helpful for when trailing stops. Just click the button change whatever (ie trigger price) and activate it again

Its important to remember you need to be logged into the Apex Scanner, Your Nadex Account, And leave the Ticket Open or it won’t be working for you. It is very helpful to install the PIN top program so you can pin the ticket to the top of your browser. You can access it here: http://apexinvesting.net/forum/questions-about-trading-computers-96/cool-free-program-filebox-extender-allow-you-pin-browsers-charts-anything-top-501.html This will ensure you don’t cover it up.

(Also remember if you login on your mobile phone while away etc… it will log you out so the order cant be submitted (recommend teamviewer.com on pc and app to be able to access your computer and control it from any smart phone) or if a browser crash, computer crash, internet crash, data connection interruptions, lack of indicative etc… could cause it to not trigger. This is the same on all type of triggers that are based and sitting on your computer. And its that or have your finger on the button and ready to go every single second without looking away and instantly executing with discipline…) So this helps you and has been reported as stable. its there to make you not have to sit there every single second. But its important to know you still need to monitor it.

Note if you have any issues contact us our help desk not nadex they do not support this it is completely third party and is only a trigger for you to submit a regular limit order)