Limit Price Entry after Market

Does anyone know how to set a limit price say 2 pips above whatever the market price is when a strategy hits?

 

Example:

    When an EMA 50 crosses below 100, how do I tell it to set my Entry Short Price 2 pips above whatever the market price was when it crossed? Normally it would just execute me a market order whenever they cross but I want to set a certain number of pips as my entry price above what that market order price was, could someone please advise?

 

Thanks

 

Ryan Brignac

 

in this case you should use limit order, not market order. But if you use MetaTrader be aware that most brokers don’t allow setting stop/limit orders so close from current price.

 

Usually it has to be at least 5-20 pips away.