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Questions about the pending order and the broker spread. Questions about the pending order and the broker spread.
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  #1 (permalink)  
Old 08-17-2007, 02:26 PM
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Question Questions about the pending order and the broker spread.
2 dumb questions... lol!

1) when we place a pending order, do we have to change the expiry time? Normally I used to change it and put it to the next 24hrs but one day I forgot to do it and my order was just working fine. I mean does it make sense to put the expiry time if it does work without changing the time?

2) when we place a Buy order, do we add +4 pips spread (with NF broker for USDGBP) just on our Take Profit or do we add them also on our Buy Stop and Stop Loss order too?

Thnx for your replies!
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Old 08-21-2007, 07:02 PM
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bump!
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Old 08-21-2007, 07:03 PM
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I am obliged to bump my thread cause I didn't get any reply so far!
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Old 08-21-2007, 09:58 PM
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Quote:
1) when we place a pending order, do we have to change the expiry time? Normally I used to change it and put it to the next 24hrs but one day I forgot to do it and my order was just working fine. I mean does it make sense to put the expiry time if it does work without changing the time?
No there does not need to be an expiry date. Just be careful though that you cancel it if you need to go the other way.

Quote:
when we place a Buy order, do we add +4 pips spread (with NF broker for USDGBP) just on our Take Profit or do we add them also on our Buy Stop and Stop Loss order too?
It is up to you if you account for the spread, obviously if you are only looking for
a small amount of pips adding the spread is a good idea.
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Old 08-23-2007, 12:42 PM
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OK! thnx daydreamer65!

For the 2nd question, sorry if I wasn't precise so I explain again: Suppose my daily target is +30pips (no more, no less), do I have to substract my broker spread in the Sell stop/limit level? For me, it's obvious to add the broker spread in the Buy stop/limit... but what about the Sell stop/limit do I have to substract the spread?
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Old 08-23-2007, 01:18 PM
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For the 2nd question, sorry if I wasn't precise so I explain again: Suppose my daily target is +30pips (no more, no less), do I have to substract my broker spread in the Sell stop/limit level? For me, it's obvious to add the broker spread in the Buy stop/limit... but what about the Sell stop/limit do I have to substract the spread?
If you in the demo mode then try both methods, it is a moot point.

If you are live....
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Old 08-24-2007, 03:04 PM
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Yes am in a Demo recently. So I've noticed I don't need to substract anything for the Sell stop/limit.

Thnx!
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Old 08-24-2007, 03:31 PM
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Yes am in a Demo recently. So I've noticed I don't need to substract anything for the Sell stop/limit.

Thnx!
Great Lucke well done. That's reason for the demo mode
to iron out all the wrinkles before going live.
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Old 08-24-2007, 08:24 PM
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this is because you only pay the spread when you buy the currency pair, not when you sell?
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