Too many negative slippage orders

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Albalunga
76
Albalunga  

Maybe someone  can help me with a specific technical problem with MT4 that is starting to be annoying and I don't know how to deal with it.

I use MT4 with this English broker which generally works well ETX Capital | Forex, spread betting and CFDs | Regulated by the FCA. I use an Expert Advisor with a VPS; upon reaching the desired price, the EA sends the order to the market. The order for the EA is a limit order (i.e. a buy order is launched at 100 when the market price falls from a higher level to 100). However, the platform does not know this, because it simply sees a buy order to arrive when the price goes down to 100. The problem is that lately 50% of orders are executed with negative slippage (ie the purchase takes place at 101, a less favorable price. compared to the one set) and almost never with positive slippage (let's say 10% of cases), despite the security traded is not particularly volatile (Uk Gilt) and therefore I would expect a small percentage of trades at a price different from that desired. I add that the VPS is cheap and not particularly fast. I know that in MT4 execution at the intended price is not guaranteed, but so many orders with negative slippage and so few with positive slippage are calling me a skilful scam.
Now the matter is starting to get heavy because with those negative slippage percentages, the return erodes a lot and the risk remains the same.

The question is: does this depend on the broker (ETXCapital) or on MT4 Manager which should be Metaquote, and therefore, would the same happen by changing broker?

thanks

Enrique Dangeroux
727
Enrique Dangeroux  
A limit order guarantees the price (or better) but does not guarantee the order gets filled. At least this is how it should be. Your broker has fake limit orders, it turns market order when price is hit. Change broker, report to FCA, whatever you do, do not trade with this particular broker! Plenty of brokers left who do not **** you over.
Albalunga
76
Albalunga  
Enrique Dangeroux:
A limit order guarantees the price (or better) but does not guarantee the order gets filled. At least this is how it should be. Your broker has fake limit orders, it turns market order when price is hit. Change broker, report to FCA, whatever you do, do not trade with this particular broker! Plenty of brokers left who do not **** you over.

Thanks for your answer but did you read with attention what I wrote? I attempt to explain how the EA runs. It doesn't put limit order. There is no order in the market; when the price reaches wanted level it launches market (not limit) order but it is executed at a worrse price. Does it depend on broker or on MT4?

Enrique Dangeroux
727
Enrique Dangeroux  
Albalunga:

Maybe someone  can help me with a specific technical problem with MT4 that is starting to be annoying and I don't know how to deal with it.

I use MT4 with this English broker which generally works well ETX Capital | Forex, spread betting and CFDs | Regulated by the FCA. I use an Expert Advisor with a VPS; upon reaching the desired price, the EA sends the order to the market. The order for the EA is a limit order (i.e. a buy order is launched at 100 when the market price falls from a higher level to 100). However, the platform does not know this, because it simply sees a buy order to arrive when the price goes down to 100. The problem is that lately 50% of orders are executed with negative slippage (ie the purchase takes place at 101, a less favorable price. compared to the one set) and almost never with positive slippage (let's say 10% of cases), despite the security traded is not particularly volatile (Uk Gilt) and therefore I would expect a small percentage of trades at a price different from that desired. I add that the VPS is cheap and not particularly fast. I know that in MT4 execution at the intended price is not guaranteed, but so many orders with negative slippage and so few with positive slippage are calling me a skilful scam.
Now the matter is starting to get heavy because with those negative slippage percentages, the return erodes a lot and the risk remains the same.

The question is: does this depend on the broker (ETXCapital) or on MT4 Manager which should be Metaquote, and therefore, would the same happen by changing broker?

thanks

Albalunga:

Thanks for your answer but did you read with attention what I wrote? I attempt to explain how the EA runs. It doesn't put limit order. There is no order in the market; when the price reaches wanted level it launches market (not limit) order but it is executed at a worrse price. Does it depend on broker or on MT4?

I did. Did you write your situation with attenation? No.

Market order has slippage with market execution, deal with it

Keith Watford
Moderator
25522
Keith Watford  
Albalunga:

Maybe someone  can help me with a specific technical problem with MT4 that is starting to be annoying and I don't know how to deal with it. 

Do not double post!

I have deleted your duplicated topic!

Keith Watford
Moderator
25522
Keith Watford  
Albalunga:

 It doesn't put limit order. There is no order in the market; when the price reaches wanted level it launches market (not limit) order but it is executed at a worrse price. Does it depend on broker or on MT4?

Show your code that places the order.

Albalunga
76
Albalunga  
Keith Watford:

Do not double post!

I have deleted your duplicated topic!

Sorry but I didn't want to duplicate I thought that thread group is more appriopriate and I can't cancel this. If possible you can transfer my question in "expert adivosr and automated trading"

I haven't the code. But that is not the problem. I only need to know who really handels the real execution price in MT4 when a market order is launched on market: the broker or Metaquote?

Keith Watford
Moderator
25522
Keith Watford  
Albalunga:

 If possible you can transfer my question in "expert adivosr and automated trading"

I haven't the code. But that is not the problem. I only need to know who really handels the real execution price in MT4 when a market order is launched on market: the broker or Metaquote?

This is the correct section for MQL4 and MT4.

So you don't have the mq4 file?
Then you don't know whether the code is at fault or not.

For example, the code may be opening a buy when the bid hits the price. That would look like slippage equal to the spread.

Albalunga
76
Albalunga  
Keith Watford:

This is the correct section for MQL4 and MT4.

So you don't have the mq4 file?
Then you don't know whether the code is at fault or not.

For example, the code may be opening a buy when the bid hits the price. That would look like slippage equal to the spread.

I didn't need the mq4 file. The EA send a buy market order when the bid price reaches set price and the code forks correctly. For many months order was executed at that price. Since one month it is executed at worse price. Something is changed or in the broker or in Metaquote. 

I only need to understand if executed prices are managed by Metaquotes or by the broker. 

William Roeder
23248
William Roeder  
  1. Albalunga: I only need to understand if executed prices are managed by Metaquotes or by the broker. 

    Metaquotes wrote a program. That has nothing to do with your code and your broker.

  2. Albalunga: The EA send a buy market order when the bid price reaches set price and the code forks correctly. 

    You buy at the Ask and sell at the Bid. Your open order price will not be at your trigger price. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)
    Most brokers with variable spread widen considerably at end of day (5 PM ET) ± 30 minutes. My GBPJPY (OANDA) shows average spread = 26 points, but average maximum spread = 134.

  3. We can't help you since you haven't provided any, useful, information; there are no mind readers here.
Albalunga
76
Albalunga  
William Roeder:
  1. Metaquotes wrote a program. That has nothing to do with your code and your broker.

  2. You buy at the Ask and sell at the Bid. Your open order price will not be at your trigger price. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (control+O) → charts → Show ask line.)
    Most brokers with variable spread widen considerably at end of day (5 PM ET) ± 30 minutes. My GBPJPY (OANDA) shows average spread = 26 points, but average maximum spread = 134

I know that spread is variable. I would publish code If I had it but I don't have it. But the problem is simpler.

Ask price reaches a certain wanted level and EA launches a market buy order (so it is not relevant bid-ask price in that moment). In the past only 10% times order was executed at worse price. Since 1-2 months it is executed at worse price in 50-60% times, with the same EA, broker, VPS and instrument.

This cannot be causal, someone is changing something. Did Metaquotes only write a program and allows use of platfarm? So, is it the broker that assign me a worse price? Is it correct? 

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