I had 3 trades close above my Stop loss level, and another 3 trades close below my Stop loss level. On the demo account This Never Happens, But on a live account it always happens. Is it the Broker fishing for extra money?
Probably not.
go to MT-4
right click on a chart
select PROPERTIES
Select the COMMON Tab
MAKE SURE THAT “SHOW ASK LINE” is ticked
now try it all over again
and you’ll probably notice that , at the time when you are getting taken out, THE SPREAD of the market at the time is a larger spread and it’s taking out your stop loss
You’ll notice this because the 2 lines, The Bid and the Ask line will seperate from each other by a greater distance.
and get used to knowing which line will hit your take profit or stop loss depending on whether you are buying or selling.
to me it sounds like you just don’t understand how spread works correctly.
this question gets asked all the time.
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You’re awesome, Thank you Kindly. And you’re right I need to brush up on some spread Knowledge.
Not a problem at all
be cool
Happy new Year
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Sorry One more question; Even though the Spread is Large, Can it close Above you’re Stop loss? Like It happen to my trades. Ex. My SL is Set at 113.186 on a Sell; and the Order Closes above SL not before at 113.190.
No problem
Above or Below is a question of whether you are buying or selling at the time
but i think what you’re trying to ask is
can you close the trade in profit when the spread is large
Well… if you are currently in a loss, then closing the trade will result in a loss
but, if you are in profit but the spread starts to widen up and get close to your Take profit
YOU CAN CLOSE THE TRADE… Technically speaking… yes you can
but keep an eye in the terminal as to whether the trade will close at a loss or a profit.
it really depends on the situation at the time
test it on demo to get an idea
but also know this
Price can be at a certain point and the spread can be like 3 pips,
then price can widen up to be like 15 pips and it takes out your stop loss without moving the price. but while increasing the spread
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Clearly explained and Straight to the Point. Couldn’t of asked for a better answer. Thanks! I’ll take everything you said into account. Cheers! And have a Happy New Years!
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you too mate
glad i could help