Hi everyone, I am super new to Forex and I have what might seem like a stupid question to most of you experienced traders.
In the MT4 trading platform, when I make a trade I can modify that trade to include a stop loss or take profit on my order. However, it seems that when I put in whatever number say for example, 1.17500 as the take profit and 1.16500 as the stop loss sometimes the ¨save changes¨button is ¨grayed out¨ and it wont let me do it.
I know that the stop loss and take profit must be minimum 20 pips off the current price but it seems to me that I cannot assign whatever price numbers I want, are there some kind of pre set price numbers that I am forced to insert for the TP/SL to work correctly?
You need to ask your broker. The normal reason for that is that you’re trying to enter something they don’t allow.
That would be very weird (and to many traders hopelessly unacceptable!). I know different brokers have different rules about this, but I’ve certainly never seen or heard of a 20-pip minimum!?
Hi Texan, normally if your save changes button is greyed out you have made a mistake with your order which is why you can’t place it.
Nothing to do with your broker or settings.
Common things are your TP is under the Ask, or SL above Bid, or you have put in say a JPY order instead of a Dollar order - i.e. 150.00 rather than 1.5000