Slippage 0 MT4

[cmarconetti]

Hi, I checked a few links that touch on slippage such as

https://www.mql5.com/en/forum/12423/page637#comment_11263460

but I would appreciate some clarification on what it means slippage = 0 in terms of execution.(MT4)

Assume Ask = 10 rigth now.

When we enter a market order OP_BUY we include Ask in it. This seems strange for a market order

as we are already setting a limi but that is MT4.

If slippage is 0 this order will ONLY execute if the available Ask for filling is 10 right? (1 question)

If that is not the case order will be rejected? requoted? resubmitted? (2 question)

Incidentally the Slippage input is int type and measures pips, so for an instrument like US30 Index at 35515.5

I think the unit of pip would be 0.1 which would then make Total Slippage = Ask+/-  0.1 x Slippage--> correct? (3 question)

Hope I got it right, thanks for any inputs.

[William Roeder]

1. Press review - What is Forex Trading - General - MQL5 programming forum - Page 637 (2019)

2. What is the real purpose of Slippage in OrderSend Function? - General - MQL5 programming forum

   You are using slippage of 10. On a 5 digit broker that is 1.0 PIPs. On common pairs try 3 PIP. On others, like EURNOK and USDMXN the spread ranges 30-300 pips! I use slippage of twice the spread.

3. That is called slippage. You can only open at the current market price.

   1. You have network delays (usually MS range), but if you loose connection just before the send, it will take 30+ seconds for the timeout, reconnect, resend.

   2. Then you sit in the server queue, while it processes all older requests. Then it must check your account and free margin and if that passes, the current market value is the price you get. Normally only a fraction of a second, during news releases, this can take minutes and the market can move continuously.