Dang I’m frustrated with the way orders are closed! I thought I understood it, but I clearly don’t. For example, I placed a sell-limit on the Cable just now, but when it got to my TP, it didn’t trigger it! I know this may seem silly, but I don’t get why it would do that. Is it the spread? If so, I thought the spread was paid regardless of where they actually trigger the TP. Sorry if that last line is confusing!
click right buttom of your mouse in the chart, them chose propertys, them chose “see ask line”
then you will see two lines in your chart. in a seeling order is the ask line that triggers your SL and YOUR TP. in a buying order is the bid line
the spread IS the difference between a bid and ask line
Hey Bear,
If you are in a LONG trade, then make sure your charts are set to “BID”, also make sure your TP is on the BID line and not the ask. Remember, sell at the BID and buy at the ASK.
If you are in a SHORT trade, your charts should be set to “ASK”. Make sure your TP is set on the ASK line (if there isn’t one, then draw one). In this case, when the short trade is closed, it will be buying back your position…at the ASK.
Hope this makes sense. It took me a while to figure this one out too. I have a small sticky on my screen reminding me which one is which.
My Sticky:
“Long: Entry on Ask chart, exit (and measurements) on BID chart/settings.”
“Short: Entry on BID charts, exit (and measurements) on ASK chart/settings.”
Good luck!!