How does the buy stop limit work in meta trader is it more accurate than just placing an order. Do you set it at your entry point and wait and it just triggers. Does it reduce the spread.
There is no possibility to reduce spread - it is regulated by the broker.
Stop limit means that it would be either executed at specified price or denied at all.
At the same time, in case of fast movement, the price can just pass through without the execution. That is why, it is better to use usual Stop Loss order.
The spread is regulated by the broker and there is no way to reduce the spread. Buying a stop limit means your stop will be executed or denied at the specified price. It is much better to use the usual stop loss order because if there happens to be fast movement, the price can pass without execution
Thank you very much for the info. I set my buy stop limit above the chart and it just bought at that level straight away i was losing the trade.
Thank you very much i am starting to think like that now. I thought the trade should have triggered when it hit the buy stop. I cannot figure out why it does not work i thought maybe the software is at fault.