Buy Limit Order

Beginner Questions
1

Hi everyone this forum has been very helpful. Please help educate me on buy limit orders. I tried to place a buy limit at 20 pips above the current market price. I set the S/L at -10 pips and the T/P at +30 pips. It wouldn’t let me execute saying “invalid s/l or t/p”.

I tried altering my sl and tp by 10 pips but it still wouldn’t execute it for me. Please help me understand these orders.
Thanks

2

[B]A buy limit order can never be placed above the current market price.[/B]

This is true whether the buy limit order is used to enter a long position, or to exit a short position.

Here’s a post on order types which you should study — 301 Moved Permanently

It’s long and complicated, but it will explain the situation that’s puzzling you.