I don’t understand why my TP didn’t hit. Is it because the asking price of the buy and the spread that made it not get activated. I’m confused- I thought regardless of the TP order. If price hit it hit. Regardless if you were in negative or profit.
Its probably due to the spread being too wide. What market is this please?
Is this the Nas100?
If this is the Nasdaq100 5-minute chart on UK time, the spread I currently see on this at 1756hrs is 0.7. Do you know what the spread is from your broker at the time of day in question this morning?
If it is anything like 0.7, that should not have been too wide for your TP to be not triggered. You can legitimately ask your broker for an explanation.
margin call i think, u had no more money to place another position if u already had positions open,
Why the wideness of the spread changes how TP works?
Let’s suppose your TP order is to buy at 7828.00.
If the spread is as much as 10.00, then in order for your TP order to be executed, the bid/ask prices would need to be 7818.00-7828.00. Brokers’ charts are often based on the bid price so if your chart is a bid-price chart, you can see that the (bid) price never fell anywhere near 7818.00, and so your TP at the ask price of 7828.00 was not triggered.
I don’t know what spread your broker offers usually, but brokers are free to change their spread at any time, and all brokers will change it every single day at key times on the clock, such as near the open, near the close and around news announcements. The only way to understand how much your broker changes their spreads is to watch the quotes - the charts do not show spread.
Alternatively, get away from short-term trading on 5-minute charts. Do you know anyone who makes a consistent profit doing that?
yeah me hahah
I am sure you do - but before you posted this, no doubt the OP didn’t know anyone doing it.
Now, do you know anyone else doing it?
i know many that choose to enter on 5 or 15m based on the 1hr 4h and make consistent profits, not sure he does, anyways, the spread is the difference between bid and ask. there are some indicators that show spread at all times. as for ur tp not being hit, very possible the scenario @tommor pointed out.
Yes this is NAS100- It was around 260 when I got in and it was about 350 the next day possibly. Somewhere in between there
Thank you- that was helpful, I do believe it was due to my spread because I had entered around 16:00 on my MT4 (does the MT4 reflect your time or your brokers time btw) and I’m still a new trader I was testing out strategies.
Thank you! I typically enter off the 5m and the 15m chart as well based off the trend of the 1h and 4h and I like to scalp and day trade. Still working on my strategies I’ve been trading for only a few months
It was my demo account…
check out this thread, and watch those utube videos, it will change the way u trade and if u put in the time and effort u ll see progress in no time.
hope this helps cheers
Thank you! I will def check it out. How long have you been trading?
this is my 3rd year, and ur welcome
I started trading with IML and then I started losing money when it became more about risdiu then trading so I wanted to get back with a non stressful environment
I don’t think we got the full story yet.