Open Close price in a bar - actual traded prices, or just asks? - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Aren't Bid and Ask just the prices the buyer and seller want to pay, though, rather than what they actually end up paying?
So if I submitted a dummy bid of 0.1 USD to buy £1M GBPs and the exchange rate is purely calculated from the bids and asks, would this dummy bid drastically alter the exchange rate?
I could understand if Open and Close were *executed* bids, as this would get around the problem.
I also recommend BabyPips from RaptorUK link above. Sounds like you're really new. Sorry we don't teach Forex Basics here. Rather we deal mostly with Mql4 Coding and Automated Trading. If the Broker Bid is at 1.60516 for GBPUSD [Not USDGBP] and you submit an Order with Bid of 0.10000. The Broker is just-Not gonna honor it. You can place a Buy Limit [Pending Order] like WHRoeder suggests. However, you'll be waiting a long-time until Prices reaches that point [if-ever]. Now I know I said Prices....But there's no central price. Each broker sets their own prices which could be different by a couple of Pips. And the Price they offer is not influenced by your Pending Order [as-far-as-you're-concerned at your stage].
Ps> Don't confuse Bar Open/Close with Orders Open/Close prices.