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Anamorphic
124
Anamorphic 2014.07.25 07:42 
Hi

When I am setting up a pending order there is a minimum distance from the current price level of 30 pips, which makes most trades useless. Is this normal ?

Thanks

N
Simon Gniadkowski
Moderator
17963
Simon Gniadkowski 2014.07.25 07:51  
Anamorphic:
Hi

When I am setting up a pending order there is a minimum distance from the current price level of 30 pips, which makes most trades useless. Is this normal ?

Thanks

N

Yes,  of course it's normal . . . what is your Stoplevel ?

 

Read this, it will help:    Requirements and Limitations in Making Trades

Keith Watford
Moderator
8016
Keith Watford 2014.07.25 09:51  
Anamorphic:
Hi

When I am setting up a pending order there is a minimum distance from the current price level of 30 pips, which makes most trades useless. Is this normal ?

Thanks

N


Is that 30 pips or 30 points?

Most likely it is actually 3 pips, 30 points.

Unfortunately MT4 doesn't use pips the way that most of us do. It is always best to assume that they mean points where they state pips

With EURUSD for example, most of us consider 0.00010 as 1 pip, with trailing stops etc, MT4 will consider this 10 pips if the broker uses 5 decimal places.

qjol
3243
qjol 2014.07.25 10:22  
GumRai:


MT4 will consider this 10 pips if the broker uses 5 decimal places.

who told you that ?

it's 10 point not pips !

MT4 knows nothing about pips

never was and never will

Keith Watford
Moderator
8016
Keith Watford 2014.07.25 11:42  
qjol:

who told you that ?

it's 10 point not pips !

MT4 knows nothing about pips

never was and never will


Nobody told me gjol, it's my own experience.

Open a new order window with a 5 digit broker, select pending order and you will see the message, "Öpen price you select must differ from market price by at least XX pips"

An Easy check with stoplevel will prove that they mean XX points, not XX pips. 

qjol
3243
qjol 2014.07.25 11:49  

wow, you right

i never saw it before

whroeder1
13653
whroeder1 2014.07.25 12:17  

In the code mt4 has no concept of pips, everything is in points. When the GUI was written there were only 4 digit brokers and a point==a pip. With 5 digit broker point = 1/10 pip.

The OP was still wrong it was 3 pips = 30 points. A pip doesn't change just because it's quoted to the tenth.

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