A futures trade opens at Last price, not at Bid or Ask. Is this normal? - page 6
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You wrote that the difference between Stop and Limit orders is only in predicting where the price will go.
That's why you don't understand why stop orders are not put in the market at all.
Well, you should study the basics, and then write something.
In your case, I know what you want to tell me beforehand.
You want to say that StopLimit is placed in the market if the Limit level is better than the current price.
And I'll tell you that Limit is sent to the market, at the time of the Stop! trigger, not at the time the StopLimit order is placed.
Alexei correctly noted that these are different orders, but they have the same type of Stop. And all the stop orders are stored on the server, or even locally on the computer (in the past)
And StopLimit isn't intended to set limits. There is an ordinary Limit order for limits.
And of course you don't understand whatStopLimit is for.
I think I'm starting to get it, i.e. instead of a TakeProfit at the TP level, put a StopLimit with the same volume, which will execute and become marketable in the other direction, respectively at a price in the opposite direction, the spread will be in the plus. Amateur question, in MT4 two counter orders need to be closed and in MT5 they also need to be closed or the position will disappear as we will give an order for a reverse buy action.
I think I'm starting to catch up, i.e. instead of a takeprofit at the TP level put a stop limit with the same volume, which will execute and become marketable in the other direction, respectively at the price in the opposite direction, the spread will be in the plus. Question from a layman: in MT4 two opposite orders need to be closed and in MT5 they also need to be closed or the position will disappear as we give an order for the opposite buying action.
Netting is a system that allows only one position for a selected instrument in either direction. It is widely used in the stock market. In fact, a trader cannot simultaneously open a buy and sell position on the same trading instrument.
If there is 1 contract to buy, and there is a limit order to sell the 1st contract, then the limit order triggering to sell causes the closing of the position to buy, while the position to sell will not be opened.
Suppose a buy position is +1 and a sell position is -1, resulting in +1 - 1 = 0.
I think I'm starting to catch up, i.e. instead of a takeprofit at the TP level, put a stop-limit .........
You don't seem to be catching up, you seem to be falling even further behind. Just try to understand the order types. What Stop means, what Limit means and what StopLimit means
I think I'm starting to catch up, i.e. instead of a takeprofit at the TP level, put a stop limit with the same volume, which will execute and become marketable in the other direction, respectively at the price in the opposite direction, the spread will be in the plus. Amateur question, in MT4 two counter orders need to be closed and in MT5 they also need to be closed or the position will disappear as we will give an order for a reverse buy action.
On the contrary, the spread will be negative as StopLimit will bite the market, if of course we give it a worse price.
Forget about StopLimit for now, it is executed by a trigger.
For TP use Limit
For SL use Stop
We have a Long 1 contract, at 100
Put TP, Sell Limit 1, at 110
Put SL, Sell Stop 1, at 90
In this case, the TP order will stand in the pickup area as a limit order, and will wait for the market to hit it.
i.e. your TP as a Limit order, will be filled at your specified price, without slippage.
The SL will be executed by the market.
Never use StopLimit for a protective stop loss.
StopLimit can fail to execute, and the open loss will be a much larger loss.
If you have 1 buy contract open and you have a limit order to sell the 1st contract as a stop, then the sell limit order triggers a close of the buy position and no sell position will be opened.
Suppose a buy position is +1, and a sell position is -1, resulting in +1 - 1 = 0.
You have a misprint. It should be as a take profit.
You have a typo. Must be as a take profit.
Yes, that's right, it's a typo.
Thank you all, yes of course, my mistake, a limit order on the TP level and a pending order on the other side on the stoploss level. And the logic, or rather not the logic, but the intended purpose of the stop-limit really hasn't caught up yet. The price is up, the level of stop, even higher the limit order is opened, which will become a Sell order. The price at the limit order level may reverse and go further.
Thank you all, yes of course, my mistake, a limit order on the TP level and a pending order on the other side on the stoploss level. And the logic, or rather not the logic, but the intended purpose of the stop-limit really hasn't caught up yet. The price is up, the level of stop, even higher the limit order is opened, which will become a Sell order. The price at the limit order level may reverse and go further.
By using BuyStopLimit and SellStopLimit orders, we can control the slippage when entering a position for a breakdown.
Yes, I agree that there is animplementation in the structure of MqlTradeRequest which is responsible for slippage.
But this is an implementation of MQ, and it is managed on the MT5 server of your broker.
And when you explicitly send a StopLimit, this request is already stored on the server of your quote provider.
I don't think the difference needs to be explained.
BuyStopLimit, SellStopLimit orders, we can control slippage when entering a position at breakout.
Yes, I agree that there is adeviation in the MqlTradeRequest structure, which is responsible for slippage.
But this is an implementation of MQ and it is managed on the MT5 server.
And when you explicitly send a StopLimit, this request is already stored on the server of the quote provider.
I think the difference doesn't need to be explained.
Stability in execution)
Sustainability in execution)
We exclude the broker's server from the chain, and keep our orders closer to the exchange.
Since in any case the quote provider is as close to the core of the exchange as possible, in one collocation in Aurora.