How to Set Slippage in mt5

[Azeez Adekunle Isola]

Hi every one. if any one can help me , i would be really happy and thankful .

i want to set slippage in mt5 and also i used both order send and ctrade but for both of them there is no option to set the slippage, also i found the function  Mytrade.SetDeviationInPoints() but it still does not control the Deviation 

whatever i write for that function , it still does not respect the max slippage i write.  please help me get out of this . i am working on it for weeks. thanks 

[Fernando Carreiro]

Azeez Adekunle Isola: Hi every one. if any one can help me , i would be really happy and thankful . i want to set slippage in mt5 and also i used both order send and ctrade but for both of them there is no option to set the slippage, also i found the function  Mytrade.SetDeviationInPoints() but it still does not control the Deviation .whatever i write for that function , it still does not respect the max slippage i write.  please help me get out of this . i am working on it for weeks. thanks 

You can only set the maximum deviation (slippage) if the broker supports "Instant execution" on that symbol, and that is usually only possible if it is a "dealing desk" account or broker.

However on NDD (non-dealing desk), STP (straight through processing) and ECN accounts, it is usually "Market execution" which does not support limiting deviation (slippage).

Basic Principles - Trading Operations - MetaTrader 5 Help

Types of Execution

Four order execution modes are available in the trading platform:

• Instant Execution
  In this mode, an order is executed at the price offered to a broker. When sending an order to be executed, the platform automatically adds the current prices to the order. If the broker accepts the prices, the order is executed. If the broker does not accept the requested price, a "Requote" is sent — the broker returns prices, at which this order can be executed.
• Request Execution
  In this mode, a market order is executed at the price previously received from a broker. Prices for a certain market order are requested from the broker before the order is sent. After the prices have been received, order execution at the given price can be either confirmed or rejected.
• Market Execution
  In this order execution mode, a broker makes a decision about the order execution price without any additional discussion with a trader. Sending an order in such a mode means advance consent to its execution at this price.
• Exchange Execution
  In this mode, trade operations conducted in the trading platform are sent to an external trading system (exchange). Trade operations are executed at the prices of current market offers.

Execution mode for each security is defined by the brokerage company.

[Azeez Adekunle Isola]

Fernando Carreiro #:

You can only set the maximum deviation (slippage) if the broker supports "Instant execution" on that symbol, and that is usually only possible if it is a "dealing desk" account or broker.

However on NDD (non-dealing desk), STP (straight through processing) and ECN accounts, it is usually "Market execution" which does not support limiting deviation (slippage).

thanks mate

you were the only person who could help me.

cant we use any kind of trick to make slippage a certain value in "market execution " brokers ?

[Fernando Carreiro]

Azeez Adekunle Isola #: thanks mate you were the only person who could help me. cant we use any kind of trick to make slippage a certain value in "market execution " brokers ?

Unfortunately not! "Market execution", means accept ANY price the market offers at the time the order is filled.

All you can do is monitor the current prices and spread and execute when the conditions are most favourable, but there is no guarantee.

[Carl Schreiber]

Well if you send a market order with a certain price the server (at least MQ demo account) refuses execution with the error Requote.

In the struct result you can find the actual ask and bid price of the server and then you can decide to resend the request with the new prices or not.

As I said it works on MQ demo accounts.

[Fernando Carreiro]

@Carl Schreiber #: Well if you send a market order with a certain price the server (at least MQ demo account) refuses execution with the error Requote.

It only gives "Requote" if it is Instant Execution. There are no requotes on Market Execution.

MetaQuotes demo accounts are not a realistic representation of most real broker accounts.

[Carl Schreiber]

Fernando Carreiro #:

It only gives "Requote" if it is Instant Execution. There are no requotes on Market Execution.

MetaQuotes demo accounts are not a realistic representation of most real broker accounts.

?

OrderSend only knows:

Identifier	Description
TRADE_ACTION_DEAL	Place a trade order for an immediate execution with the specified parameters (market order)
TRADE_ACTION_PENDING	Place a trade order for the execution under specified conditions (pending order)
TRADE_ACTION_SLTP	Modify Stop Loss and Take Profit values of an opened position
TRADE_ACTION_MODIFY	Modify the parameters of the order placed previously
TRADE_ACTION_REMOVE	Delete the pending order placed previously
TRADE_ACTION_CLOSE_BY	Close a position by an opposite one

So this TRADE_ACTION_DEAL is an immediate executed market order.

[Fernando Carreiro]

@Carl Schreiber #: ? OrderSend only knows:

Please read post #1.