Corn min stop

 

Good morning, I have a problem in placing market orders with the following Corn CFD (Order error 130).

Let's say for instance Ask price is 597.50 and i want to place a market order. Where is the minimum stop I can place? Thank you

Corn spec

 
Alberto Tortella: I have a problem in placing market orders with the following Corn CFD (Order error 130). Let's say for instance Ask price is 597.50 and i want to place a market order. Where is the minimum stop I can place?

According to your screenshot, the minimum stop size is 100 points (a price change of 1.00). However, the rest of your information is insufficient.

A "buy" order open at Ask price and closes at Bid price, and a "sell" order opens at Bid price and closes at Ask price.

The stop size is related to your closing price, and not your opening price. So for a "buy" market order, the minimum stop size is related to your Bid price and not your ask price.

 
Fernando Carreiro #:

According to your screenshot, the minimum stop size is 100 points (a price change of 1.00). However, the rest of your information is insufficient.

A "buy" order open at Ask price and closes at Bid price, and a "sell" order opens at Bid price and closes at Ask price.

The stop size is related to your closing price, and not your opening price. So for a "buy" market order, the minimum stop size is related to your Bid price and not your ask price.

I was trying with an expert to place a BUY market order (not pending) @ 592.50 ASK and I placed the stop @ 578.05 BID but the platform rejected the order with 130 Order error.

Spread was around 1.5 points.

I don't understand where is the problem because there is great distance between BID price and stop loss.

I opened the order manually and there was no problem with the same levels.

 
Alberto Tortella #: I was trying with an expert to place a BUY market order (not pending) @ 592.50 ASK and I placed the stop @ 578.05 BID but the platform rejected the order with 130 Order error. Spread was around 1.5 points. 

I don't understand where is the problem because there is great distance between BID price and stop loss. I opened the order manually and there was no problem with the same levels.

Your statement does not make sense. Spread cannot be 1.5 points as "points" are always whole numbers.

Spread can also not be 15 points because that would make it smaller than the tick size which 25 points, so you probably meant 150 points = 1.50 price range.

Also, if you state that Ask was at 592.50 and your stop was at Bid which was at 578.05, then that would be a spread of 14.45 or 1445 points (which is also not correct because it does not align with the tick size).

If you meant to state that Ask was at 592.50 and Bid was at 591.00 and that your stop was at 578.05, that would make a little more sense.

Please provide more exact details, including data from the log output.

EDIT: Also remember that you should also mention both the S/L and T/P.

EDIT2: Also show your relevant code as the problem may be elsewhere.

EDIT3: The stop price of 578.05 is invalid according to the tick size. This is probably what is causing the error. It would have to be 578.00 or 578.25. You have to align/normalise your prices based on the tick size.

 
ok the problem was tick size, I solved with size normalization thank you!