Nadex and Stop trigger

#1

I submitted a new message earlier today on a stop trigger issue I had. I went searching for a possible solution and came across the message exchange below. Is this comment correct abiut Nadex and inability to accomomdate a stop loss order? pwasson1435d Can you use the Stop Trigger to set a stop loss and a take profit on the same spread? I’m looking for a way to manage risk and profit overnight without babysitting the trade. Reply

created 435d last reply 359d1 reply 812 views 2 users 1 like Reply as linked Topic 2 MONTHS LATER

AYINDEJAM2009359d Yes in fact this is what stopped me from trading nadex. There is no way to set stop loss order without literally sitting there the whole time watching the trade, it’s so frustrating. Why is it one can set take profit and leave it but not stop loss? Yes I know about the whole same order excuse but I am pretty sure nadex programmers can find a way past it… 1 LikeReply

Trend measurement period
#2

Yes, the stop trigger can be used for both getting into and out of orders even if it’s the same contract. It works very well for risk management. The only thing you need to remember if you set both a stop loss and a take profit order is that they are NOT OCO (One Cancels Other) orders and you will need to manually deactivate the order that has not been triggered. The Nadex platform does not have the concept of a stop trigger (or stop loss orders), you can however set a take profit order. The stop trigger is unique to APEX and will GREATLY enhance your trading experience.

#3

To clarify-- I am trading IZSS.on Nadex spreads

The IZSS system has very clear rules on setting stops. Those rules do not make mention of the difference between the indicative price and the underlying price, which is discussed in the scanner training course. So, when I am setting a stop loss under the IZSS system I’m assuming I should just follow the IZSS rules and disregard any difference between the indicative and the underlying which don’t seem to be given any consideration under IZSS rules.

#4

yes just follow the stop levels on the IZSS chart

#5

I understand a stop trigger to place a put or call on a fornex binary trade on Nadex is not possible. Only for a take profit. I have not practiced this on my demo. Lets be clear. a take profit can not be used on nadex in place of a stop trigger by apex to place orders ???

#6

On the Nadex platform you can use limit orders to enter trades once they reach your desired price. From there you can place a working order for your take profit orders. But correct, you can not place a stop loss order on the Nadex platform itself. You would need to use the ape xStop Trigger Plug in for your stop loss orders and trailign stops. You can also your enter take profit orders all in one place from the Stop Trigger , be sure to check out the step by step training course and videos