How is it better to put limit orders?

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Hi, can anyone give me a suggestion?

I am preparing an EA for CFD in MT4. The EA  would mostly use limit orders. But when I manually put limit orders with take profit I see that often there is a slippage. In my calculation it redcue gain of 20% compared to gain without slippage. 

So,  in the EA, would the execution be faster and more reliable if the EA waits the wanted price and only when price is reached, sends to platform market orders? Or would it be faster if the EA put before limit orders that are already on platform when the instrument raches the price?

 

Thanks fo your help

 
Albalunga:

Hi, can anyone give me a suggestion?

I am preparing an EA for CFD in MT4. The EA  would mostly use limit orders. But when I manually put limit orders with take profit I see that often there is a slippage. In my calculation it redcue gain of 20% compared to gain without slippage. 

What slippage, please show what you mean exactly with screenshot and logs.

So,  in the EA, would the execution be faster and more reliable if the EA waits the wanted price and only when price is reached, sends to platform market orders?

Of course not.
 

Excuse me I do not understand. What not?

Assume that now the price is 105 and I want the EA to buy at 100. Is it faster and more realiable if the EA immediately sends on platform a limit order "buy limit at 100" or if it waits that price reaches 100 and only in that moment sends a market order "buy now"?

 
Albalunga:

Excuse me I do not understand. What not?

Assume that now the price is 105 and I want the EA to buy at 100. Is it faster and more realiable if the EA immediately sends on platform a limit order "buy limit at 100" or if it waits that price reaches 100 and only in that moment sends a market order "buy now"?

Limit is much better to use, for it will execute your given price.

 

Please note that I am speaking about MT4,  not web platforms. In this moment I use manual limit orders on Uk Gilt in MT4 with ETX Capital and I suffer slippage about in 20% of orders (orders are excuted at worse price) and the damage is serious. They say that  it is a natural feature of platform and market and they can do nothing.  

Do you know a broker where in MT4 limit orders are really "limit"?

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