Spread Overview

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Hello, 

I am new in Forex trading ; 

I seen SPREADS in MT4 which is 15pips for GBPUSD


I just wanted to ask :-  Do we get difference of spread per order just 15 pips Or we get it twice per Order ( i.e 30 pips - 15 @ open / 15 @ close )

Please help me understand as I am very confused 

 
shaikh_shafique:

I seen SPREADS in MT4 which is 15pips for GBPUSD

I just wanted to ask :-  Do we get difference of spread per order just 15 pips Or we get it twice per Order ( i.e 30 pips - 15 @ open / 15 @ close )

  1. More like 15 points == 1.5 PIPs.

    PIP, Point, or Tick are all different in general.
              What is a TICK? - MQL4 programming forum 2014.08.03

    Unless you manually adjust your SL/TP for each separate symbol, using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points,) and metals. Compute what a PIP is and use it, not points.
              How to manage JPY pairs with parameters? - MQL4 programming forum 2017.02.09
              Slippage defined in index points - Expert Advisors and Automated Trading - MQL5 programming forum 2018.01.15

  2. Once per order. You buy at the Ask and sell at the Bid. Pending Buy Stop orders become market orders when hit and open at the Ask.

    1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using the Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?

    2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close to a specific Bid price, add the average spread.
                MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25

    3. 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 spreads widen considerably at end of day (5 PM ET) ± 30 minutes. My GBPJPY (OANDA) shows average spread = 26 points, but average maximum spread = 134 (your broker will be similar).

 
William Roeder:

  1. More like 15 points == 1.5 PIPs.

    PIP, Point, or Tick are all different in general.
              What is a TICK? - MQL4 programming forum 2014.08.03

    Unless you manually adjust your SL/TP for each separate symbol, using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points,) and metals. Compute what a PIP is and use it, not points.
              How to manage JPY pairs with parameters? - MQL4 programming forum 2017.02.09
              Slippage defined in index points - Expert Advisors and Automated Trading - MQL5 programming forum 2018.01.15

  2. Once per order. You buy at the Ask and sell at the Bid. Pending Buy Stop orders become market orders when hit and open at the Ask.

    1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid / OrderClosePrice reaches it. Using the Ask±n, makes your SL shorter and your TP longer, by the spread. Don't you want the specified amount used in either direction?

    2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask / OrderClosePrice reaches it. To trigger close to a specific Bid price, add the average spread.
                MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25

    3. 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 spreads widen considerably at end of day (5 PM ET) ± 30 minutes. My GBPJPY (OANDA) shows average spread = 26 points, but average maximum spread = 134 (your broker will be similar).



Thanks...    it means pay only 15pips RIGHT ?? 

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