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Do you have an example of such strategy?
Can you be more precise, what "case" are you talking about ?
Yep: https://www.mql5.com/en/forum/143997/page2#773665
. . . it also makes it possible to have an EA on GBPUSD and place Sell trades at Bid on EURUSD and USDCHF
Well lets take Fixed Negative_Grids as an example. Fixed meaning all the Grids are the same size appart. This is one of the Best example I can think of for Limit orders. However, I don't see any limitations when using market orders instead. In fact, someone might get better pricing on their Negative_Grids for reasons explained earlier.
If you take the same strategy and instead of Fixed Grids but use Volatility_Grids [Varying the Grid Sizes on Volatility] then one cannot use Pending orders because he would not know what the Volatility would be when the price is hit. Same could be said for Variable Stop-Loss vs Fixed Stop-Loss.
Of course some people might start talking about Losing_Connection. But then thats a totally different problem altogether.
Pending Orders might have some good application over Market Orders outside of Lost Connection. But I cannot think of any.
I haven't tested all brokers especially mt5_brokers. I wondering if this could be because some ECN provides the so_called best price for market orders. Of course, I don't mind the positive slippage. However, wouldn't you say thats how the Slippage Parameter in OrderSend() was intended?
Yep: https://www.mql5.com/en/forum/143997/page2#773665
I'll do some research on this and see what I can find. Thanks.
If slippage is irrelevant, than it cannot be use as argument for pending orders, by saying pending orders avoids slippage and market orders doesn't :P
With the True processing of ECN orders, they look for the Best_Price. This is muddy waters because we no longer know if this is a good or bad thing for market_orders. Best price doesn't imply that it's cheaper nor anywhere near where you may want. So yea, point taken but there's no way of weighing the effects.