Slippage and take profit/stop loss levels
sigja: Hi all. I'm wondering how MT4 and MT5 handle slippage on orders with stop loss and take profit. Say I open an order with 20 pips take profit level and 10 pips stop loss level. The order opens with 2 pips slippage. Will Metatrader adjust the take profit level and stop loss level by 2 pips, or will the take profit level and stop loss level remain the same?
No adjustments are made by the platform. Whatever price was set for the stops, remain in effect.
It is up to the trader (or EA) to make whatever adjustments deemed necessary according to their trading strategy rules.
sigja:Say I open an order with 20 pips take profit level and 10 pips stop loss level.
That does not exist. TP/SL are prices, not an offset. Slippage effects the open price, not the stops.
Thank you both! :-)
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Hi all. I'm wondering how MT4 and MT5 handle slippage on orders with stop loss and take profit.
Say I open an order with 20 pips take profit level and 10 pips stop loss level. The order opens with 2 pips slippage. Will Metatrader adjust the take profit level and stop loss level by 2 pips, or will the take profit level and stop loss level remain the same?