Order not filled - Take Profit
Hello,
This is the second instance I've had in the past 2 weeks where my take profit order has not been filled automatically after being set.
Spread is 3.5 pips - GBP USD
Spread is 3.5 pips - GBP USD
TP was set at 1.59960 and price went down to 1.59937. Trade was placed 11/30 @ 17:07 (mt4 time) and TP and stop loss were set at the same time of the initial trade. As far as I'm aware the spread shouldn't come into play - the chart is set so that you enter when you want to exit, the spread should come out of whatever profits (or losses) you take after the exit.
And thanks for your help by the way
Of Course the spread comes into play. You sold at the Bid. The TP does not trigger until the Ask reaches it. What is the spread and did the Bid go that far below the TP?
On a Buy you pay the spread immediately. On a Sell you pay the spread when you close.
TP was set at 1.59960 and price went down to 1.59937. Trade was placed 11/30 @ 17:07 (mt4 time) and TP and stop loss were set at the same time of the initial trade. As far as I'm aware the spread shouldn't come into play - the chart is set so that you enter when you want to exit, the spread should come out of whatever profits (or losses) you take after the exit.
Difference between TP and lowest price went is 1.59960 - 1.59937 = 0.00023 which, as the spread was 0.00035, is not enough for the Ask price to trigger the TP . . . a Sell is closed with a Buy, a Buy is taken at Ask.
See here for more info: Requirements and Limitations in Making Trades
makes sense - thanks both of you! That's a great way to put it Roeder, that the spread is paid up front with a buy, and on the close for a sell.
What about this situation where it was a buy trade that didn't fill on the TP - the spread should have already been paid and the TP was reached and then passed by the Bid price? I ended up stopping out, but the purple lines are overlays of what my entry, TP and SL are at.
Thanks again,
Andrew
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Hello,
This is the second instance I've had in the past 2 weeks where my take profit order has not been filled automatically after being set. As a direct result I have very low confidence in continuing to use MT4 as my primary trading platform. As you can see in the image, the sell order was filled yet the buy limit did not execute despite being well within the price movement on the charts. What can I do to fix this and ensure that this never happens again?
Thanks,
Andrew