Download MetaTrader 5
To add comments, please log in or register
Join MQL5 Cloud Network affiliate program and make money!
BigFisherman
125
BigFisherman 2014.04.08 05:54 

Hi all,

as mentioned in the title, I wonder if this is an acceptable matter in the industry or MT4 community? This happened during NFP news release where volatility was high. Here's the screenshot of my live trade in MT4 few days ago. For that matter, I had 2 supposedly break-even (stoploss order) trades stopped out with approx. 18% & 84% loss of what was risked. The losses / slippage wasn't my main concern here, it was about the filled price for my losing trade not shown/updated in the Bid chart.

The following extract was the explanation from my broker:

So MT4 only sees the best BID and OFFER. At that point in time the best BID was 95.961. (95.961 was the lowest bid price of the bar when my Long stopped out)

Hence, MT4 only charts that price.

However, when the trade was sent to the bank, the price changed (in transition to the LP) within the second being accepted at a worse of rate. However, in the same second the better BID (higher number) was priced onto the chart.

Think of it another way, if 95.961 was best BID however the price was rejected and you filled at a worse off price. It would reflect the same thing, MT4 would still chart the price at which you were rejected, however fill you at a worse off price.

Again, very rare to happen

For anyone's info, this thread wasn't about questioning my broker whom I trusted till today, but forex / MT4 trading. Hope someone knowledgeable could shed some light here, thanks in advance.

SYED NAUFAL GADDAFI
1401
SYED NAUFAL GADDAFI 2014.04.08 06:33  
Think of it another way, if 95.961 was best BID however the price was rejected and you filled at a worse off price. 
It would reflect the same thing, MT4 would still chart the price at which you were rejected, however fill you at a worse off price.
Nah. Usually the broker gives the bid/ask price to mt4 to chart. Simple. MT4 simply follows what broker feeds to them.
BigFisherman
125
BigFisherman 2014.04.08 15:48  
deysmacro:
Nah. Usually the broker gives the bid/ask price to mt4 to chart. Simple. MT4 simply follows what broker feeds to them.


That's what I thought before. However this broker was able to provide trade receipt showing which LP was on the other side taking the trade, so I see no reason to doubt their integrity.
My question is whether anyone encounter this problem before or had any idea if this is an acceptable problem with chart not showing the true filled bid price during extreme volatility such as my case. To me, this just feels like some technical glitch somewhere in the ordering process, disregarding the possibility of broker playing tricks.

I wonder if this is the right place to ask, since there isn't much response to it. Any knowledgeable moderator / experts out there who can shed some light here?

whroeder1
13616
whroeder1 2014.04.08 16:01  
Try right-click refresh and see if the chart updates.
BigFisherman
125
BigFisherman 2014.04.08 16:42  
WHRoeder:
Try right-click refresh and see if the chart updates.


Yah, tried that when I first saw it, even restarted my station but it was just that. And as explained by the broker, chart will show best bid even if I was filled at a worse price during that split second. However I have no way to verify that since I'm no forex / MT4 expert, thus checking out here. It was however shown in the trade receipt that the best bid as shown in the chart was indeed submitted for processing, just that it ended up rejected during that sec & got filled by the market on a worse price; even if that's so, I think it's only technically correct that the chart showed the true filled price rather than Best Bid.

Nobody had this encounter before?

Ian Venner
2583
Ian Venner 2014.04.08 19:12  

That looks supicious. I downloaded the AUDJPY chart from my broker the 15:30 Low was 96.00 even.

qjol
3243
qjol 2014.04.08 19:38  

i had known for years, brokers tend to embellish the chart in the case of a candle they dont like or if it doesn't looks good on the chart

i do believe that exist some brokers with wider spread (especially when there are strong movement in the market)

so 95.961 isn't so difficult to accept

here you have a screenshot in real time (M1) (not downloaded afterwards)

but i guess you gonna filter me



SYED NAUFAL GADDAFI
1401
SYED NAUFAL GADDAFI 2014.04.09 00:28  
Well, broker can do whatever they want with the chart since they have the admin power. So, let this be in mind.
BigFisherman
125
BigFisherman 2014.04.09 04:47  

@ SDC
I supposed that's one drawback to trade in OTC market; thus also on the move to explore other markets to diversify.

@ qjol
Nothing constructive & sincere deserves to be filtered.
For me, I like to treat my selected brokers as my comrades in the battlefield, so trust is of paramount importance; provided due diligence was done when looking for the right broker. That's why I don't doubt my brokers until trust is broken with evidence.

@ deysmacro
No doubt there are rotten egg brokers around. I wouldn't focus my energy on that matter though after I chose that broker, trading is challenging enough.

SYED NAUFAL GADDAFI
1401
SYED NAUFAL GADDAFI 2014.04.09 06:23  
Broker always trade opposite of your trades. Means if you trade buy, they will trade sell. Why? Because traders always lost. 95% and we always starts in negative when we open trades.
/
To add comments, please log in or register