I would like to have a bracket in which the take profit acts like a limit stop.
I utilize a small tick size bracket, generally 5 ticks TP with a 5 tick SL, mostly placing long orders where price action show high buying volume. More times than not, you pick up a very fast 5 ticks of profit, and of course sometimes you get stopped out. I’ve tested this using a limit stop, but when price goes on the run, sometimes it doesn’t come back, and that’s obviously a problem. On the flip side, my take profit order is locked in to place. This seems backwards to me.
Can we create a bracket that locks in the Take Profit sale of at least X amount of ticks, but allows it to pass through, such as a limit stop would? I would prefer to have a regular stop, absolutely limiting my downside, and a limit take profit, allowing me unlimited upside.