MT4 didn't close position when TP reached

[ningbaby]

Hi there,

I'm new to MT4 and having problem with TP. As you can see from the attached file, the TP of my short position has been hit many times and it didn't close the position. Later on, the price went back up and hit my SL and closed the position. So SL worked but not TP. Can anyone explain it to me what went wrong? Thanks!

BTW, it's running on a laptop and the broker is CMC Markets.

[Fernando Carreiro]

ningbaby: I'm new to MT4 and having problem with TP. As you can see from the attached file, the TP of my short position has been hit many times and it didn't close the position. Later on, the price went back up and hit my SL and closed the position. So SL worked but not TP. Can anyone explain it to me what went wrong?

There is the Bid price and there is the Ask price, and the difference between the two is the Spread.

• Buy (or Long) positions, open at the Ask price and close at the Bid price.
• Sell (or Short) positions, open at the Bid price and close at the Ask price.

Charts, display the OHLC bars as Bid prices (or Last prices). So, the Take-Profit or the Stop-Loss price for a Sell (short) position will close at the Ask price, which is not shown on the chart. So, even if the low price (bid) has touched or crossed the price level of the Take-Profit, the Ask price may still not have reached it. That is why your position's Take-Profit was not triggered.

[S.ShojaEddin Rafieipour]

I suggest you to select a broker with a low spread.

Before selecting a broker, you shoul visit the website and see the differences between different account types and finally choose the best. If you tarde as a scalper, an account with the lower spread is suitable for you.

[VICTOR ANGEL VARGAS VARGAS]

ningbaby:

Hi there,

I'm new to MT4 and having problem with TP. As you can see from the attached file, the TP of my short position has been hit many times and it didn't close the position. Later on, the price went back up and hit my SL and closed the position. So SL worked but not TP. Can anyone explain it to me what went wrong? Thanks!

BTW, it's running on a laptop and the broker is CMC Markets.

Good afternoon, 

As other investors have suggested already. Your spread is too high. I would reconsider the broker or what I usually do is set the take profit a few pips before my target price hence, the max spread on that currency pair or commodity. I also recommend you add the spread option into your market watch that way you have an idea of current spreads as seen on the attached filed. Hope this helps. Happy Trading!