Pending order on a price that there has never been

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Hi,

I trade with the strategy "10 points on eurusd" and yesterday (28.08.13) I have set two pending orders for stop buy and stop sell on High/Low prices +/- 2 points of the day before, like usual. And I was very angry about an opened buy order on 1.3402 (High was 1.3400 on 27th) in the teeth of the yesterday's high price 1.3399! Why? And who does bear the consequences? Is there something to prevent such incidents?

Thanks in advance.

 
sanja555:

Hi,

I trade with the strategy "10 points on eurusd" and yesterday (28.08.13) I have set two pending orders for stop buy and stop sell on High/Low prices +/- 2 points of the day before, like usual. And I was very angry about an opened buy order on 1.3402 (High was 1.3400 on 27th) in the teeth of the yesterday's high price 1.3399! Why? And who does bear the consequences? Is there something to prevent such incidents?

Thanks in advance.

Your chart is drawn by the Bid price, a Buy trade is opened on the Ask price. The difference is the Spread.
 

Ok, I understand.

RaptorUK:
Your chart is drawn by the Bid price


Does it depend on the traded currency pair and/or my account (I have an USD Cent account) or is it the standard?
 
sanja555:

Ok, I understand.


Does it depend on the traded currency pair and/or my account (I have an USD Cent account) or is it the standard?
The chart is a Bid price chart for all Symbols and all accounts, it is standard.
 
sanja555:

Hi,

I trade with the strategy "10 points on eurusd" and yesterday (28.08.13) I have set two pending orders for stop buy and stop sell on High/Low prices +/- 2 points of the day before, like usual. And I was very angry about an opened buy order on 1.3402 (High was 1.3400 on 27th) in the teeth of the yesterday's high price 1.3399! Why? And who does bear the consequences? Is there something to prevent such incidents?

Thanks in advance.

This is part of the reason every trader, website, or course on the subject recommends a period of paper/dummy trading. Learning the mechanics of trading, as well as your trading platform, before making costly decisions.
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