Pending order minimum pips

New comment
 
Hi

When I am setting up a pending order there is a minimum distance from the current price level of 30 pips, which makes most trades useless. Is this normal ?

Thanks

N
 
Anamorphic:
Hi

When I am setting up a pending order there is a minimum distance from the current price level of 30 pips, which makes most trades useless. Is this normal ?

Thanks

N

Yes,  of course it's normal . . . what is your Stoplevel ?

 

Read this, it will help:    Requirements and Limitations in Making Trades

 
Anamorphic:
Hi

When I am setting up a pending order there is a minimum distance from the current price level of 30 pips, which makes most trades useless. Is this normal ?

Thanks

N


Is that 30 pips or 30 points?

Most likely it is actually 3 pips, 30 points.

Unfortunately MT4 doesn't use pips the way that most of us do. It is always best to assume that they mean points where they state pips

With EURUSD for example, most of us consider 0.00010 as 1 pip, with trailing stops etc, MT4 will consider this 10 pips if the broker uses 5 decimal places.

 
GumRai:


MT4 will consider this 10 pips if the broker uses 5 decimal places.

who told you that ?

it's 10 point not pips !

MT4 knows nothing about pips

never was and never will

 
qjol:

who told you that ?

it's 10 point not pips !

MT4 knows nothing about pips

never was and never will


Nobody told me gjol, it's my own experience.

Open a new order window with a 5 digit broker, select pending order and you will see the message, "Öpen price you select must differ from market price by at least XX pips"

An Easy check with stoplevel will prove that they mean XX points, not XX pips. 

 

wow, you right

i never saw it before

 

In the code mt4 has no concept of pips, everything is in points. When the GUI was written there were only 4 digit brokers and a point==a pip. With 5 digit broker point = 1/10 pip.

The OP was still wrong it was 3 pips = 30 points. A pip doesn't change just because it's quoted to the tenth.

New comment