When you place a pending buy stop order with a trigger price that is sensitive to the bid-ask spread, it's possible for the order to be triggered even if the chart does not reflect the price reaching the level you specified. This can happen when the ask price reaches the trigger level, but the bid price does not reach the same level. If this occurs and there is no detection of an open position, your EA may attempt to open another pending buy stop order at the same level. This can result in multiple orders being opened, which can lead to unwanted trades and potential losses.
To prevent this issue, you can program your EA to check for open positions at the price level of the pending order or review historical positions to prevent opening an order at the same price level. This will help ensure that your EA is not opening multiple orders at the same price level and prevent unwanted trades.
Another way to improve this situation is to use a Raw Spread broker that offers tight spreads, which can help improve the accuracy of your analysis. Tight spreads mean that the difference between the bid and ask price is small, making it easier to accurately determine when the price has reached the trigger level for your pending order.
It's also important to carefully review your trading strategies and monitor the market closely to ensure that your orders are being executed as intended.
In summary, when placing pending buy stop orders, it's important to be aware of the bid-ask spread and the potential for orders to be triggered even if the chart does not reflect the actual price level. By checking for open positions, using a Raw Spread broker with tight spreads, and monitoring the market closely, you can help ensure that your orders are being executed as intended and avoid unwanted trades.
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