Invalid SL or TP

Beginner Questions
1

hi,

Whenever I want to create new either short or long order, I am getting all the time error message “Invalid SL or TP” preventing me to add an order (forex, stocks, cfd). I have asked my broker why this could happen and got the answer that normally minimum distance between current market price (valid for both: entering short and entering long) and SL as well as minimum distance between current market price and TP must be 6 pips for forex and 10 pips for cfd and stocks. Been doing the research for a while what could be the reason and nothing really helped. I checked 5 times to be 100% sure that I am setting up correct type of order. For measuring pips, I used Crosshair (second button left to right in toolbar) and measure the MIDDLE number from the three numbers that occur when you move mouse cursor. Once I even had distance over 100 pips and it didn’t help. I have no idea what else to do, missed many great opportunities to enter the trade because of this error. As I said, i have been searching for the reason/cause of this error and note them down in some txt file just in case if i needed the collection of possible reasons/causes of the problem, however asking for the reason might not help me. One of reasons that I found online was (name of the cause for problem) “Ending digit in both SL/TP is not 0 or 5” so obviously I made sure that ending digit in both SL and TP is either 0 or 5 and it didn’t work. Furthermore, I made sure that market price is ABOVE my entry price if having type of order Sell Stop or Buy Limit and I made sure that market price is BELOW my entry price if having type of order Buy Stop or Sell Limit. I would appreciate your help but most likely asking for the reason won’t help. So as the ultimate purpose of making this message, there will ask a way more directly: Does Metatrader 4 (should work on 5 too) have some kind of custom tool which could show/indicate what is the problem that described error occurs? My version is 4. If it doesn’t (i wish it does because it would literally SHOW me what is the problem), I would highly appreciate some assistance towards solving that problem.

in attachment i am showing RANDOM image of found error with identical problem (the chart at the background is not my).

i saw the message on this forum created by user “lolpie” with title “Invalid S/L or T/P” but it didn’t help. I am unable to post a link so i had to say username and title instead.


1 Like
2

Hi puppy,

You seem to have a really strange issue. As far as I understood from your post you have tried the two most common solutions:

  1. Make sure you SL/TP cover at least the spread of the instrument. In your case your brokers told you some specific requirements.
  2. Make sure you type in correctly the digits after the point.

Obviously they didn’t help in your case (which is strange), so here are some other a bit simple suggestions:

  1. Try to place a trade without initially setting SL/TP and after that try to modify the levels you want by dragging the trade level up and/or down directly from the chart of the instrument. Note: it only works for market trades, doing that with a pending trades would change the opening price of the trade and not set SL or TP.
  2. Try to open a trade with SL/TP on the mobile app of MT4.
  3. Check you log file to see whether you get any specific error other than “Invalid Price”. You can find the log file of the current under “Journal” section when you right click there and open the folder with all log files from your MT4 terminal.
  4. You could also ask your broker to check its log file for your account.
  5. Simply reinstalling of the application may also solve your issue. If you do that make sure you install the latest version of MT4 that your broker support.
  6. Change your broker or at least try a demo account of another broker (use the MT4 version of the other broker) to see whether you will have the same issue. If yes, maybe something is blocking the terminal so you should check your PC’s settings. Also refer to point 2 with demo of the other broker.

That’s it from my side. I hope it helps.

PS: I am not sure a tool for MT4 will work properly on MT5 because I think both software use different code (language): MQL4 and MQL5.

Cheers and good luck :slight_smile:

3

Hell man, I feel ya. I have exactly the same problem ,crushing my brain for a few days now with no real answer.
It makes it even more weird that if I dont initailly set SL/TP, but modify it afterwards it actually works. However I dont understand why the heck it doesnt work properly from the begining. P.S im using MetaTrader4 as well

4

UPDATE:
Actually I cannot do that anymore even when modyifing…

5

UPDATE 2: Im so fricin confused at the moment,coz Ive accidentely put S\L and T\P other way around when selling.Funny enough it actually went through ( By other way around I mean putting s\l higher than the current price and t\p lower) What`s going on here?

6

Have you tried to open an order without adding SL or TP in the window?

7

I am also ever faced with invalid stop loss or tp, and usually I will check my order, if using sell limit at least distance from running price with sell limit order above with distance at least 10 pips, and using stop loss sometime 20 pips, usually invalid stop loss because we made mistake to put our order

8


Thank heavens for your customarily profound insight, Bearish: I was getting into a state of anxiety, here, for a while, through fear that this thread might for ever lack the inestimable benefit of your ubiquitous wisdom.

1 Like
9

Am I wrong or the “other way around“ is the correct way? When you open a SELL trade Stop Loss should be higher than the current price and Take Profit should be lower than the current price, so it is normal that it worked that way :smiley:

10

i need to know. liteforex has sl and tp or not?

11

yes of course, you can find this functions in terminal

12

:smiley: clever writing “the inestimable benefit of your ubiquitous wisdom”. I would like to write like that!

13

So, Hi everyone!
Hope everyone is well and all that hahaha :smiley: As of lockdown i started to do basically full time forex but im just on th ebeginning trading with a really small amout. And so im facing the same issue with the SL/TP
I do have it correctly like in a correct way set up and everything, i use tradingview to draw out everything my every move and all… but when i go to MT4… i just simply cant put the order…

14

Haha. Analysis paralysis.

Try to find out what is it about trading view that made you confident it was a good trade to take then compare it to what you see on mt4.

I analyse on trading view and open positions on mt4. But before opening any position, I recreate the environment on trading view onto the relevant mt4 chart. That way, I am seeing the same picture on trading view and mt4.

15

is the time frame too quick? maybe make the timeframe 30min-hour so u can keep up without it changing so quickly

16

Therein lies your problem.

Sorry, I simply hate metatrader. Can you be forced to work with a more clunky, prehistoric, outdated program anywhere else on the planet? I think not!