I have a small trade on a EURUSD sell going, and in the last 24 hours it has dropped below my “take profit” point twice. The first by 1 pip, the second by 2 pips, and metatrader has yet to close the trade. What does it do that? It’s hit my point, and yet the system does not close out the trade … really annoying especially since I’m now in the negative!
Thats not the metatrader problem… what kind of order did you execute in MT4?
If your order is correct, then i think its your broker who didnt execute it maybe… which broker you using?
Just to let you know in last few days, currency has seen extreme votality going on in the markets, so maybe your broker wasnt able to execute during heavy market changes…
My broker is 1World Forex.
Well i heard they normally do have execution problems…
Could you answer my other questions, which order did yo put?
Could it also be that the price has to go past the “take profit point” by the amount of pips that equals the commission, eg 4 pips. You do have a sell order don’t you?
If, say you are trading USD/EUR with commission (spread) of 4 pips and you take profit at say 100 then the price would have to move down to 96 to activate your sell (take profit) order.
In that way the broker gets his cut of 4 pips.
Then moving down 1 or 2 pips would be insufficient and the order is still working.
At least, that is how it is on my charting software.
Hope this helps,
Tymen Wortel, Perth, Western Australia.
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I have a small trade on a EURUSD sell going, and in the last 24 hours it has dropped below my “take profit” point twice. The first by 1 pip, the second by 2 pips, and metatrader has yet to close the trade. What does it do that? It’s hit my point, and yet the system does not close out the trade … really annoying especially since I’m now in the negative!
This has also happened to me. It was sometime before I realised that the
"candle" or “shadow” on the candle was in fact the spread difference.
ie It had not in fact made the 100 pips but only 99, 98 etc.
It is very annoying though to think the trade was so close to completion,
but I suppose “a miss is as good as a mile” :mad:
This use to happen to me a lot but now I always account for the spread in my TP. In other wards I pay a 7 pip spread on Oanda for the GBP/JPY so If I wanted a TP @ 231.00 than I would be sure to place it at 230.93 or lower (on a BUY order) so that it doesn’t miss it because of the difference in bid/ask prices.
Topgun
This use to happen to me a lot but now I always account for the spread in my TP. In other wards I pay a 7 pip spread on Oanda for the GBP/JPY so If I wanted a TP @ 231.00 than I would be sure to place it at 230.93 or lower (on a BUY order) so that it doesn’t miss it because of the difference in bid/ask prices.
Yes that’s exactly the way I attempted to solve the problem, but
on occasions it still happens.
The only real way I found to cure it was to keep more of an eye
on the charts & put in trailing stops, so that if it reversed at least
I was left with profit.
I may seem a little paranoid though but it never seems to happen quite as often on stop losses. :lmao: