Confused, need help

I am playing around with stop losses and taking profits, and I am utterly confused with MT4. I was watching NZDJPY, expecting it to go down, so I SOLD the pair. First of all, is that correct.

Second, I set a stop loss above my price, and a take profit belwo my price, because I am expecting it to go down. Is that correct? I doesn’t seem correct because everytime I did it, the price betwen those two points … within seconds of modifying the order it would close it with a loss.

What am I doing wrong?

What are your entry and exit levels?

I am not sure what my entry has to do with anything, and I was trying to set up an exit stop loss 10 pips above (min for MT4) since I was selling the pair, and 20 pip profit taking, whcih would be 20 pips below my entry.

I think one of my problems were I was using the NZDJPY pair, and the spread on that pair is so large I was having trouble understanding what my entry level was, and what my price was, etc.

I am going to work on a few more trades with pairs which have lower spreads and see if I can complete a trade.

Looks like you found your answer. Your exit strategies were way too close to your entries, especially your stop, on NZD/JPY.