Opening a market order above the high price
MisterDog:
The chart is drawn by Bid price, an OP_BUY is placed at Ask. If your bars were M1 bars and you were using the Strategy Tester today with a large weekend spread it would be quite easy to place an OP_BUY above the high of that bar.
It is not easy to open a buy market order above the high price. Does this happen much?
- You'll see the same thing when closing sell orders.
- Turn on the Ask line (options -> charts) and you'll see how big the spread is.
MisterDog:
Ok -- makes some sense. However the intended entry was at the Open of that bar, about 30 pips away. I use 3 pips slippage. The market was moving fast about three times the volume of the previous bar.
If you want to be able to diagnose this situation in the future Print() the relevant information when you successfully place a trade . . . Print() the Bid, Ask, OpenPrice(), SL & TP all to Digits precision. Then you will be able to look back in the log file and see what the spread was at the time the order was placed.
Ok -- makes some sense. However the intended entry was at the Open of that bar, about 30 pips away. I use 3 pips slippage. The market was moving fast about three times the volume of the previous bar.
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It is not easy to open a buy market order above the high price. Does this happen much?
By the way, it was not a successful trade. ;-)