Question on working with stops: classic on limiters + stops integrated into position - page 5
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1. How is take profit implemented on the exchange? As a limit order or as a stop order?
2. Where are stop orders stored? At the broker or at the exchange?
1. There is no such thing as a TP or SL on an exchange. If you open a long position you set a sell limit to take profit, if you want to place a stop, you place a sell stop. The logic of a limit and a stop is a bit different (see stop turns into a market). Accordingly, for a short, it is vice versa.
2. Some stops are stored at the broker, some at the exchange itself. It depends on the exchange. Exchange stops are the most ironclad, but they may not be executed due to a number of factors.
Dear administrators!
I am a representative of the bank that bought MT-5 from you, and the gentleman you banned is our client.
I understand that you want to protect your reputation, but the fact remains. You failed to refine the MT-5 to global banking standards. Our dealers swear by MT-5, it is inconvenient from the brokerage side. Clients, you see, also have problems, they do not expect such a trick with stops, although in the regulations, of course, everything is written. Are you trying to create your own innovative approach to order setting standards? You mean put up with the fact that the system is set up this way because we are the legislators on the market? Yes, we know you are the lawmakers in the market. MT-5 is an excellent program in terms of thechanalysis and mechanical trading systems, so why couldn't the orders issue be solved?
You know very well that the current order situation is not normal, including from us.
If we wanted to avoid having any kind of problems with stopping and profits being applied to an entire position, we would simply convert all of our stops and profits into corresponding orders when we open the position (and not when they are triggered as we do now). This is because any profit and stop is in fact an active order, too. Accordingly, for limit orders, when they are triggered, we could foresee the formation of child orders from stops and profits. And now in MT-5, orders are a separate song and stops are a separate song and are attached either to the common position or to orders.
And you know all this because your clients are us, the banks, the brokers, and not the forum traders, who are only a third party here. Although both they and we are hostages to your inability or unwillingness to move to global banking standards of dealing.
That is, just a mutual misunderstanding.
The execution process is more important, which is what I was more focused on. Yes and the phrase I mentioned "orders are activated when a matching Bid or Ask is found" is fully supported by the above trigger conditions, where Last is just an addition to Bid/Ask and in fact is knowingly in/equal to Bid/Ask.
Dear administrators!
Dear administrators!
I am the representative of the bank that bought the MT-5 from you, and the gentleman you banned is our client.
Let us not lump together a blatantly illiterate trader who simply tried to bend his line regardless of logic and "scolding dealers". If there are issues on the brokerage side, they are all dealt with by the service desk.
There is no catch with stops, unless the trader is specifically looking for a reason to justify his mistake.
I think everything is important here. Suppose we have a long, and sell stop set somewhere down, let's say last went down, first triggered on last, and will be executed sell market on bid, and only then if last was not but ask was falling, it will triggered on ask, and again will be executed sell market on bid. That is why last is not a complement, it is the most frequently occurring price (I don't even remember my stop triggered by a price other than last). ) Also, because the execution is on the market, there may be slippage in the plus or minus.
Let's not lump together a blatantly illiterate trader who was just trying to bend his line regardless of logic and "swearing dealers". If there are issues on the brokerage side, they are all handled by the service desk.
There is no trick with stops, unless the trader is specifically looking for a reason to justify their error.
You are really getting tired, you do not see the outright clones :(
The questioner got banned, so he created a new login.
ZS Now he's pretending to be a bank employee.
ZS Now impersonating a bank employee.
Luckily, he's actually from the bank, at least in their network.
I can see why this topic came up. It looks like the trader just didn't follow his stops and is now ready to trample and break everything around him, not wanting to think with his head. This explains why he doesn't listen to reason but bends his line.
Our client is not illiterate, he has previously worked for a year in our own trading system, with those very as you say "terrible" OCO and IF Done. He also, of course, had experience with MT-4. And the hybrid didn't really work out.
And as for the issue at hand, I understand at this point you will bend your line and that's it, we did this and that's that, eat what's served. Yes, monopoly is bad. Well here on the forum, that's your job, I understand.
If only you had at least moved the volume and stops with profits far away in the order submission window in MT-5. And you would sign it not just "Stop Loss", but "Stop Loss on the entire open position volume". Same thing about Take Profit. But it's still bullshit. I have already written you how it should ideally be done. All active stops and profits are orders too, and should be reflected in the orders section.
Our client is not illiterate, he has previously worked for a year in our own trading system, with those very as you say "terrible" OCO and IF Done. He also, of course, had experience with MT-4. And the hybrid didn't really work out.
And as for the issue at hand, I understand at this point you will bend your line and that's it, we did this and that's that, eat what's served. Yes, monopoly is bad. Well here on the forum, that's your job, I understand.
If only you had at least moved the volume and stops with profits far away in the order submission window in MT-5. And you would sign it not just "Stop Loss", but "Stop Loss on the entire open position volume". Same thing about Take Profit. But it's still bullshit. I have already written you how it should ideally be done. All active stops and profits are orders too, and should be shown in the orders section.
You are defending the trader who made a mistake in controlling the stops, aren't you?
And this whole topic is just a public attempt to justify his error?
I must say that the problem of inattention is very difficult to solve. We put a lot of effort into mass training of traders, we work on usability and understandability of interfaces, we write a lot of documentation, we communicate on forums. But even a direct one-to-one explanation does not always work.