Trade placed at Price Point which was never reached

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Hi,

Using the MetaTrader4 software, today I had attempted to place a trade on the open of the 5 min bar at 11:00am 16/12/09 USDGBP. Please see attached.

I was prompted saying that the trade needed to be requoted and on accepting the requote it placed the trade at 1.6346. During the entire 5min bar, this price was never reached so I do not know how a trade at this price was placed.

The process followed was to Press the New Order button and then accepting all default values, press the buy button.

Can anyone please explain why this has occurred?

Thanks

Nick

 
https://forum.mql4.com/27623
 
nmilillo wrote >>

Hi,

Using the MetaTrader4 software, today I had attempted to place a trade on the open of the 5 min bar at 11:00am 16/12/09 USDGBP. Please see attached.

I was prompted saying that the trade needed to be requoted and on accepting the requote it placed the trade at 1.6346. During the entire 5min bar, this price was never reached so I do not know how a trade at this price was placed.

The process followed was to Press the New Order button and then accepting all default values, press the buy button.

Can anyone please explain why this has occurred?

Thanks

Nick

What was the high of the 5 min bar and did you try for a buy order or a sell order?

Note that the chart shows the bid price and not the ask price. You pay the ask price (higher than the bid price by the spread) when you buy. So the entry point for a buy trade is higher than the point on the chart that is showing the bid price. Therefor it is possuble to appear as though the price you set was not reached but the trade was entered (and by the sound of it went on to make a loss).

You can show the ask price on the chart (go to options / charts and tick the "show ask line" box) if you feel like it will ease your mind about the wicked broker.

Hope that helps

whocares

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