When i post a new order on MT4, it puts the order higher or lower than i wanted.
For example:
I enter the market at 1.4567
MT4 sets my P/L on the order at -£xx.xxp
My order line on the screen is set at 1.4677 (a 20 pip difference)
Any ideas?
Btw, i apologize for my absence, I’ve been moving into my new (and first proper) house
Anthony
Actually thats a 110 pip diff …are you sure you typed the prices right? Also it will be higher when you buy because you buy at the Ask price…MT4 defaults to showing the Bid price… but when you sell it will be the bid price. When there’s a diff it will be due to the spread but usually only by a few pips.
Oh & congrats on the new house 
Sorry about the miscalculation sweetpip, i wasnt concentrating. So if i set the software to show ask price on the chart as well it would be right?
And thank you 
To clarify, changing the chart properties to “show” the ask price is only doing just that…it’s not a matter of making anything “right” except to visually show the spread between the Bid/Ask but it is helpful to see it especially when spreads are really high like when the markets first open on Sunday.
You will always be at a loss when you first open any order:
When you buy a pair, it’s at the Ask price (MT4 will draw a horizontal line there), but the Bid price determines the profit or loss, which is always below the Ask. The bid price has to cross above the horizontal price line to be in profit.
When you sell a pair, it’s at the Bid price (again MT4 will draw a horizontal line where you sold) , but the Ask price determines the profit or lost, which is always above the Bid. The Ask price has to cross below the horizontal line to be in profit.
So basically I will always be at a loss to begin with (due to spread) and it will always show a line further down (or up) from the order i set??
Yep.
Nothing quite like starting as a loser every time is there?
To add a little to Sweet Pip’s explanation, you also may be confusing 2 pips with 20 pippettes. That fifth digit does seem do be a bit of a headache. The fourth decimal place is actually a pip. Or second decimal on the yen pairs.
I would like to know I thing : what is actually the volume 0.01 means on the above trade? I mean how much I am buying and what is the cost!
Only your buy orders will show a the open order line a little further up than the current (bid) price line. Sell orders will be filled at the current (bid) price line.
Yes 0.01 is equivalent to 1 micro lot ($1k)…0.1 would be 1 mini lot ($10k) and of course 1.0 would be 1 standard lot ($100k).
PIP values are as follows:
1 standard lot = 10$ per PIP
.10 standard lot = 1$ PIP
0.01 standard lot = 0.10$ per PIP
[I]Here these values are correct only for those currency pairs who have USD as a base symbol like USDCAD[/I]
