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Q about Pending orders in MT4

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igold
19
igold  

Hi all!

Does anyone know/experience that the price was hit with much distance of what you set, for example, a sell stop pending order set at 1300 but it was finally hit at around 1293. (OMG that's 700pips!!!)

Adding to above, i am talking about a quick drop during news release. Is that normal or what's the problem of it?

Thanks for any answer and your time!

igold

Situation supplementary:

i) suppose that the current price of gold is $1305;

ii) pending order in MT4: sell stop was set at, e.g., $1300;

iii) news released and price dropped to $1295;

supposedly, the order had been hit the price $1300 and was floating profit. But in fact, the order was hit at $1293, instead of $1300, and of course it was floating loss.

Clarification:

1. Pips: 100pips = $1 on Gold (which i never use the term "point")

2. Spread: 50pips normally in my case. e.g. (Bid)$1290.11 - (Ask)$1290.61

Ubzen
5394
Ubzen  

What were you trading.... Gold?

What was the Bid and Ask at the time?

igold
19
igold  

Yes man, i am talking about gold.

It's sell stop so it should be BID. I can understand a relative small distance like, within 150pips, but 700pips is just ridiculous!

Ian Flanagan
549
Ian Flanagan  
I guess you were trading at news time. If there is good news for USD, who will take the opposite side if your trade at that moment. Of course there is slippage
Keith Watford
Moderator
9641
Keith Watford  
igold:

Yes man, i am talking about gold.

It's sell stop so it should be BID. I can understand a relative small distance like, within 150pips, but 700pips is just ridiculous!


I think that what you refer to as 700 pips is a $7 move on Gold, personally, I would call that 70 pips a little more than a 0.5% move. Not so rare with Gold.
Ex Ovo Omnia
3185
Ex Ovo Omnia  
igold:

Hi all!

Does anyone know/experience that the price was hit with much distance of what you set, for example, a sell stop pending order set at 1300 but it was finally hit at around 1293. (OMG that's 700pips!!!)

Adding to above, i am talking about a quick drop during news release. Is that normal or what's the problem of it?

Thanks for any answer and your time!

igold

It is often explained by low liquidity of the market. Nevertheless there are several types of brokers. Those called "market makers" have the slippage and spread completely under their own control. Those who claim to be ECN or STP often play a "market maker" for small accounts, and use real market only for hedging big volume customers (they don't really place single microlot orders at interbank market).

igold
19
igold  
alladir:
I guess you were trading at news time. If there is good news for USD, who will take the opposite side if your trade at that moment. Of course there is slippage

GumRai:

I think that what you refer to as 700 pips is a $7 move on Gold, personally, I would call that 70 pips a little more than a 0.5% move. Not so rare with Gold.

I guess you guys misunderstood what i said. I am not talking about the price slippage of gold itself. Instead, I am talking about the MT4 platform problem and the situation is:

i) suppose that the current price of gold is $1305;

ii) pending order in MT4: sell stop was set at, e.g., $1300;

iii) news released and price dropped to $1295;

supposedly, the order had been hit the price $1300 and was floating profit. But in fact, the order was hit at $1293, instead of $1300, and of course it was floating loss. <---- This is what i referred to 700pips distances. (Yes to GumRai, it is $7 on gold)

igold
19
igold  
Ovo:

It is often explained by low liquidity of the market. Nevertheless there are several types of brokers. Those called "market makers" have the slippage and spread completely under their own control. Those who claim to be ECN or STP often play a "market maker" for small accounts, and use real market only for hedging big volume customers (they don't really place single microlot orders at interbank market).


It should not be due to spread because spread can't be that wide, at least in my case. My guess is of course they made something tricky behind but i would like to know the whole picture.

Low liquidity would cause such problems? Could you please explain more to me? Thank you very much!

Ubzen
5394
Ubzen  
igold: Yes man, i am talking about gold. It's sell stop so it should be BID. I can understand a relative small distance like, within 150pips, but 700pips is just ridiculous!

You are not alone https://www.mql5.com/en/forum/147885.

Can you please show some Images like the guy before you so that we're not just making wild_accusations?

We need to understand if we're a talking about pips or points.

We need to understand if the bar(bid) actually touched your specified price.

We need to understand if our gold prices made similar moves vs just your broker.

Thank you.

Ian Flanagan
549
Ian Flanagan  
When you make a strategy, you consider all kinds of risk. Liquidity risk is one of them.
whroeder1
14779
whroeder1  
Last time I ran all market data, the spread on gold was $35 so $7 is nothing.
12
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