MT4 puzzling:on pending orders the T/P not closing the order

Trading Tech and Tools
1

At this point I am very frustrated.

Obviously there is a lot to learn to be able to use this software properly.

I’m actually starting to think there is something wrong with my Metatrader 4 version which I downloaded with a demo account from FXCM.

I’m trying to use the pending order function
I put a pending order on: each time I do this using the pending order function I seem to get it right (I should have been making prophet but the demo account is now way down, most are good choices but with some bad ones which is expected. If I sell and it goes down, there in front of me I see the candlestick fluctuating and as it hits the line of the order level where I set the order to start the order goes on but when it breaks through my T/P, which I have set, nothing happens. Even when it goes way below the line set as the level for my take prophet nothing happens and I loose again. does Metatrader 4 not stop the order immediately when my take prophet is hit? Am I supposed to do this manually?

First problem
OK Now I realize I need some illustrations to be able to get more reponce here. At this point I have the trade giving me the T/P but others it is not like what follows here in these printscreen images shoing what is not happening.

faultysofware1.jpg700×410 60 KB


As you should be able to see both those candles went through my take prophet but nothing but of course as usual it is showing a loss. Then there is what follows…
faultysofware1a.jpg700×410 60.2 KB


Now that one is showing it going back up and still nothing but the loss is increasing.
then there is this next one…
faultysofware1b.jpg700×410 60 KB


Now as you should see in the profit column it shows a small profit of 0.03 which went further until it was showing 0.09. Has anybody got any idea why I am not getting my take profit? I had 3 in a row that showed as profit but have had many from one day to another that have acted like this. Then there is the other things that seem to malfunction as I use MT4 live, using a demo account.

Second problem
I go to put a pending order on and am sure I am doing it right but at times it won’t let me put the trade on giving the message below can someone comment I haven’t really got much to compare it to as to how it works normally. I only have a friends software which he used for commodities trading which is very smooth and works instantly everytime. but Its not MT4.
IN the following illustration which I took a screen shot of these illustrate what is happening.

faultysofware2.jpg700×410 55.3 KB


As you can see it has not hit the pip level I have put in as the buy price… then again below is what happens when I click to put on the order.
faultysofware2a.jpg700×410 53.7 KB


Now it is refusing to put on my order although the T/P is 10 pips above the price I put in…
I had some orders go on and some did not and so I don’t understand it. It is mainly doing this when I make a buy stop and most times goes on when I do a sell stop ((but I remember it not working putting on a sell stop a few times earlier.

The third thing
It seems to be dropping the connection to the server at times. I am not sure of this it could be mu internet link because it seems to be dropping me out sometimes at peak periods or when I have been online for a long period of time, so not sure if this is associated with MT4 or my internet link. If anyone has had these same problems with MT4 please tell. I want to start trading next week and so really want to be confident that eh software is OK to use.

It doesn’t make sense, am I missing something? or is there something wrong with the software? Well any advice would be appreciated. I have a trading account now and want to use it soon but can’t until I am confident with this software unfortunately.

Has MT4 has had problems with a one version or another? Maybe it is that this company uses and bad version for one reason or another (they have their own software but I want to use MT4 because it seems to be popular).

thanks in advance for any help you can give me. I’ve been laboring with this and a few other things for a few days now.

2

remember spreads.

When you go LONG at for example 1.3320 the price will need to go down to 1.3320 - spread
If you went LONG, your take profit should be triggered at the point you set.

When you go SHORT at for example 1.3320, the order should be triggered at that point.
If you went SHORT and your take profit is for example 1.3290, price will need to move o 1.3290 - spread

Hope it helps.

3

I’m opening very small trades of 10-20 pips that are closed out by the T/P which I set just 10 or 15 pips below if I am selling or above if I am buying.

Is using very small gaps of only 10 pips or so between the opening price and the T/P problematic because of the spread?

surely the spread is only .o1 or maybe .2 of one pip even if it is up to 2 pips out of the 10 pips that should not effect my prophet completely which is what is happening. I’m finding it difficult because of not having anything to compare it with. It’s really early days on the demo account.

thanks for any comments I need to get some sense out of this as I don’t even know if my version of MT4 is working properly having no trading experience with it at all and so nothing to compare with as far as the experience with this. Its been getting a little frustrating.

4

If you have doubts, download the MT4 of another provider and compare.

Anyway is a good habit to have several accounts when you are starting so you check differences.

5

@Alph

If you have doubts, download the MT4 of another provider and compare.

Anyway is a good habit to have several accounts when you are starting so you check differences.

Thanking you …
that’s really good advice and I appreciate it, well just to say I woke up this morning feeling a bit washed out from yesterday, not knowing where to start today I needed someone to respond and so have some direction to take; yours is the only response and now I have something to try. And so will likely get a few more practice/demo accounts: I have another and the version of MT4 is much different the one from FXCM which I have been using all of the time lately (it seems really good apart from this problem), in fact the FXCM version seemed very good but has this problem triggering my take prophet. I don’t know what it is that causes this or if it is a glitch, it is baffling they seem a good company being so big worldwide but maybe they are not, although the interface is really great to use (I went with them because they are in my country Australia and so figured it is more efficient and likely get my prophets earlier). Really I just needed to start with someone and so opened an account with FXCM but haven’t used it yet not being confident enough to use real money.

thanks again G

6

Hi Docious,

I’d be happy to take a closer look at your MT4 demo account to see why your take profit order did not trigger when you expected. Feel free to shoot me a private message with your demo login details. Also know that our tech support team will be happy to help you with your demo account anytime 24 hours a day. You can call us toll-free from Australia at 1800 109 751 or contact us via live online chat.

Welcome to the forum :slight_smile:

Jason

7

I have had the same issue with MT4 though my broker is Forex.com I have seen it pass the TP line on numerous occasions and NOT CLOSE. It does seem to close when I have TP set on BUY but on close I get to watch it go right past the line. I might be missing something, but I would assume that the line is there for a reason and hope there is a solution to this or a setting to place into MT4. Usually Forex.com tells me it’s MT4 and I should use their trading software. Not exactly a straight and clear answer.

I have also seen it CLOSE a trade on Stop Loss BEFORE it hit the STOP LOSS line in MT4. This isn’t my first issue with Mt4 either. I like MT4 over the other options so I have been sticking to it as the default software and it’s easy to use with mobile too. However, I also really wish this was explained.