deviation

[madpetz]

hi guys, on MT4 when i start a new trade there is a drop down box with different values in pips 5,10,15,20 etc that says

"enable maximum deviation from quoted price"

what does this do?

thnx

[madpetz]

so uh does anyone know?

[topgun]

This is what I found on the web with a link to it also. It is essentially used for high volatile times like around announcements when you want your order to trigger at an approximate price rather than be skipped over. I use Oanda and they call it "bounds" so it is used to prevent slippages.

Topgun


Notice enable maximum deviation on the bottom. As quoted and explained from IBFX’s site,The Enable Maximum Deviation from Quoted Price enables or disables the use of deviation. 99% of our trades are executed in under 1 second. However there are times that the markets can move quite dramatically. The amount the market price moves between the time you click and the execution of your quote is called deviation. If the deviation is below or equal to the specified parameter, the order will be executed at the new price without any additional notifying. Otherwise you will receive a new price confirmation window through which you can execute your order.

Forex Demo - Buying and Selling with Meta Trader 4 » Forex Blog, A Part of No Bull**** Network

Originally Posted by madpetz

hi guys, on MT4 when i start a new trade there is a drop down box with different values in pips 5,10,15,20 etc that says

"enable maximum deviation from quoted price"

what does this do?

thnx