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OrderSend with market orders, slippage usage

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emred
35
emred  

Hello,

I am new in MetaTrader and mql4 language,

I wonder to know, slippage parameter is applicable parameter for market orders (OP_SELL or OP_BUY) ?

I am asking this because in my broker demo account, I set slippage as 10 (Since it is using 5 digits) and it opens the order not in the range of RequestedPrice +- Slippage.


So one of the following must be the answer: 

- slippage parameter is not applicable parameter for market orders,  OR

- my broker ignore slippage parameter,  OR

- in demo accounts slippage parameter is ignored

The answer is very important for me.

Thanks for your help.

Carl Schreiber
7362
Carl Schreiber  

1) Ask your broker!

2) Look for the regulation of your broker!

In my experience the brokers do ignore the slippage.

Some years ago I heard in a seminar offered by a broker that you can request the broker to cancel the order if the your order was effected outside of your slippage - but I have no specific experience about that.

Gooly

emred
35
emred  

Hi gooly,

Thanks for your reply,

I upset for ignoring slippage parameter in market orders. Actually it is very important to restrict the order price.

In my algorithm this is the case:

I calculated which symbol to trade in time T,  

I have to open order its ASK or BID price +- Delta, depend on order type, 

If I can open the order in T +   dT, make profit %P 

If I can open the order in T + 2dT, make profit %P * 0.8

If I can open the order in T + 3dT, make profit %P * 0.6

If I can open the order in T + 4dT, make profit %P * 0.4

I mean opening order delay also important for me.

Do you suggest any broker, or how can I find the best broker which satisfy my requirements?

Best regards, 

emred
35
emred  

Hi,

For example, for the beginning, searching this kind of sites are meaningfull? 

<Links removed>

whroeder1
16093
whroeder1  
When you registered you read "Negative discussions of any banking, brokerage and other financial institutions are not allowed." So broker specific discussions belong else where.
emred
35
emred  
WHRoeder:
When you registered you read "Negative discussions of any banking, brokerage and other financial institutions are not allowed." So broker specific discussions belong else where.

Sorry,

You right. 

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