Order Too Close To Market?

Beginner Questions
1

Hi Guys,

First of all, a picture is worth a thousand words, so please check out the pic. Note the area within the red circle.

The price spiked above my take profit and my trade did not close. I tried closing it manually and got the error:

“Modification denied. Order too close to market.”

My question is, why would it not close and what does this error actually mean?

FYI, I opened this buy using a script that I have created. The settings to open the trade were:

OrderSend(Symbol(),OP_BUY,LotSize,Ask,3,StopLoss,Ask+TakeProfit*Point,TraderNameIntnl,OrderMagic,0,Green);

LotSize = 0.07
Slippage = 3
StopLoss = 750 pips
TakeProfit = 10 pips

If you require any other info, just ask.

Thanks,

Vitali.

ohchrist.jpg700×463 71.4 KB

2

first off youve got a legitimate beef with your broker about ignoring your tp, so go at it !

the error message is something ive spoken about a number of times, but this will be the first time someone’s complained so i have an example to play with.

all brokers have a MINIMUM number of pips away from the market price where you can change your tp — this is pretty standard with some being a very small number and some being a much larger number (to prevent scalping is the first thing that comes to mind)

[B]
YOU SHOULD ONLY SEE THIS ERROR MESSAGE when trying to change your tp point, and NEVER when trying to exit the trade ![/B]

therefore, on both counts, youve got a legitimate complaint with your broker and they should make your trade good !

mp

3

Thanks MP for your reply. That’s very interesting.

I must say, this isn’t the first time this has happened. It happens on a daily basis, I have just been grinning and bearing it for now waiting for the price to go that extra pip further, where it WILL actually close.

I will email my broker and keep you updated. Thanks for your advice.

4

Who’s your broker?

5

IDR,

Forex Metal

6

CALL the broker and ask to speak with their COMPLIANCE DEPT MANAGER

there is no reason for that warning to appear if you are simply trying to exit a position except that theyre throwing up a smoke screen

mp

7

Just to update you on this. The trade in question has today been corrected by our broker.

:slight_smile:

8

n I C E ! !

9

I have on many occasions tried closeing an order and get the (to close to market) message…I have a t/p and a stop lose…i wrote to broker and he said i should not use a t/p or s/l and order should go threw no problem …what an advice…

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