Hi guys!
Can someone really explain what happened with my trading setting today? I will be extremely grateful.
Is it possible that my broker changed the settings both on my order, and chart or may be it was a technical issue?
This is what happened:
So, today, I decided to trade Eur/usd on a M5 chart. It was in a range from about 10:40am to 14:00pm. Perhaps, it’s still consolidated. Analysing the trend, I thought that there was a high probability of the up trend reversing downwards if it breaks through the support zone.
So, I identified the possible entry-price-point on my chart, which was a few pips below this support zone. There, I place my Sell Stop Order. The speculation was that when the market touches that particular point it would automatically change the order into a market order (References include spreadbetting, Marcus Heitoetter, Rayner Two, etc). It may also continue on that down trend. I also set the stop loss at 1:1 ratio just above that entry price point. It was 10 pips into the area above the support zone. I also identified 3 areas of the take profits although I didn’t have the time to set up any of the Tps.
. . . Now, here is what happened.
The trend changed like I anticipated into a down trend from an up trend. I was happy.
(1) That downtrend came with so much speed/velocity/force that it moved downwards creating so many pips, which could have been great profits.
(2) Yet, I noticed that my Initial Entry- price point was automatically moved from 1.19579, where I set it. This was just a few pips below the support line, which is the bottom brown line. It moved to new point at 1.19514. This point is way below my initial target line. What really happened here?
(3) I noticed that when this changed, the Stoploss point also moved from 10 pips above initial entry-price point to an area above the Resistance line (See the brown line on top). What really happened here?
Now, here is my question to you my fellow community members?
(I) Do you think that there is a high possiblity that the speed/force/velocity with which the down trend came, changed the settings?
(II) Or, do you also think that my broker’s system, network or mt4 system changed my settings unintentionally?
- Do you think that I could have prevented this situation? If so, how.
Let me know your views! Kindly explain your point. I’m excited to unravel this mystic secret to me, which may be already known to some of you.
Enjoy your weekend!
many transactions over smaller timeframes will not necessarily increase profits. Regards Greg
you too