About close at profit

Hi,

I’m kinda new to Forex trading and I’m completely lost about what’s going on here.

I’m using Plus500 as broker and was trading NZD/USD.

I set Close at profit: 0.68362 and the graph I attached clearly shows went under the point I set.

After this I simply had a chat with Plus500 assistance and what the assistance saying is I need to keep eye on Buy rate not Opening or Close Rate,

Is it true that I need to check for buy rate when selling and sell rate when buying?

Any help will be appreciate. :slight_smile:

hi thats rare , is that a take profit for real ? hmmm let me see it :confused: interesting

Thanks for reply.

Yea…I think it’s really awkward

So what assistance saying was I should not believe the graph, and position didn’t closed since my closing point didn’t met the agent buy rate.

Hi,

I am also pretty new to forex. But what I do know is that, touching the take profit line is not sufficient. At least not in the MT4 I am using. It really has to go over it or under it for some pips (maybe spread). Then it will only close in profit.

Regards

It’s the spread.

You are showing us the M1 chart, which means the spread will be relatively huge compared to the price movements. I assume you entered a ‘sell’ position, which means that to close out your position you need the Ask line to touch your TP target. However, charts are plotted using the Bid line. So although the Bid line reached your TP target, the Ask line did not, and the TP was not triggered.

You should set up your chart to show both the Bid and Ask line, so you always have a clear idea of the size of the spread relative to the price movements.

They’re plotted however you set them to be plotted.

The industry-standard default (if you don’t “set” them at all) uses the midline between the bid and the ask, not the bid line.

Are you sure? My experience is primarily with Metatrader 4, but they absolutely use the Bid line as default. I cannot find the option for anything else in the Metatrader settings, either.

“They” use whatever the broker who has supplied the software has set as the default (yours may use the bid line). What you describe is a function of the broker, not the trading platform. :wink: