Slippage on AMP Broker limit order?
This is on Metatrader 5.
I entered a position today at 2394 and placed a limit to close at 2292.75. The price hit my limit but my order was filled at 2393.25. I was watching DOM and saw other orders being filled at 2392.75 so I know there was plenty of volume at that level.
Is this common on MT5? I thought limits were filled at the price you want or better.
Amp reponded by the following statments :
( If you use order type, SL or TP the order is working locally on your MT5, then once last trade price touches the SL/TP level it triggers the order as a market order to the exchange.
If you want your orders to be working on the Exchange - you should use straight STOP or LIMIT order type. )..
Is this true ? If i use Straight stop and limit order in MT5 , does my SL or Limit order cancel when either of them are filled... Please help
This is confusing. Did you use a limit order (so an independent pending order) or a SL/TP attached to your position ?
Hi Alain,
Thanks for the response.
After the buy or Sell order triggers at the Market order, EA is using the SL/TP as per the developer. Any inputs is very much helpful as i am losing a lot of pips.
Is there a option in MT5 ,which can close my Order at the exact Target limit price or Exact SL price rather than closing the order with few pips difference.
Please help me with your experience.
Hi Alain,
Thanks for the response.
After the buy or Sell order triggers at the Market order, EA is using the SL/TP as per the developer. Any inputs is very much helpful as i am losing a lot of pips.
Is there a option in MT5 ,which can close my Order at the exact Target limit price or Exact SL price rather than closing the order with few pips difference.
Please help me with your experience.
SL/TP are not limit orders.
In place of the TP you can use a limit order (you will get this price or better).
In place of the SL you can not use a limit order directly, but a stop limit order for example.
Of course all of that is not so easy as just using a SL/TP (and is harder to code).
Use Limit order is better to open order at exact price, but it is not good if price reverse fast.
Use Limit order is better to open order at exact price, but it is not good if price reverse fast.
What do you mean ?
What do you mean ?
say buy gold have TP at price 1350, and sell limit at 1350
when price touch 1350, and next tick price is 1349.9. position will close at 1349.9, and sell limit not trigger.
say buy gold have TP at price 1350, and sell limit at 1350
when price touch 1350, and next tick price is 1349.9. position will close at 1349.9, and sell limit not trigger.
Why to use a TP and a limit order ?
This topic is about MT5 on a netting account, aren't you talking about MT4 ?
Why to use a TP and a limit order ?
This topic is about MT5 on a netting account, aren't you talking about MT4 ?
It use to compare about TP vs limit order.
No, AMP MetaTrader 5.
It use to compare about TP vs limit order.
No, AMP MetaTrader 5.
Ok but it's normal, in your example, the TP is triggered by the Bid price, the Sell limit by LAST price.
So it may happens the first is triggered and not the second. Both can also be triggered, depends of the Market.
I was wrong here. The TP is also triggered by last price.
say buy gold have TP at price 1350, and sell limit at 1350
when price touch 1350, and next tick price is 1349.9. position will close at 1349.9, and sell limit not trigger.
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If you want your orders to be working on the Exchange - you should use straight STOP or LIMIT order type. )..
Is this true ? If i use Straight stop and limit order in MT5 , does my SL or Limit order cancel when either of them are filled... Please help