"Take profit" much lower than actual price, but market is closed. Cannot remove TP

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Hi guys,

I have set the Take Profit to a certain amount.

The market is now closed and the price has gone way past my TP.

What actually happens when the market opens? Will the TP take place at my set price or market price?

 
462700:

Hi guys,

I have set the Take Profit to a certain amount.

The market is now closed and the price has gone way past my TP.

What actually happens when the market opens? Will the TP take place at my set price or market price?


 Dear sir,

   Sure the TP will take place when the market is open if the market price will reach your set price because set price is

 also a market price but not a current price a price which you speculate.

 
Marius Ovidiu Sunzuiana:

 Dear sir,

   Sure the TP will take place when the market is open if the market price will reach your set price because set price is

 also a market price but not a current price a price which you speculate.


it cannot be take profit lower than actual price if you will try it will fail. If not, it can be server error.

 

An example...

Market is closed now and opens Monday morning.

Say my Take Profit is set to 18.000
The trade closed on Friday at under 18.000, so I did not reach my TP setting when market closed. No issues there.

During the weekend other markets, which are open, shows current price at around 19.000.
And say that stays true for Monday morning when my market opens.

So we have an actual price of 19.000 and my set TP price at 18.000.

Will the my positions be sold for 18.000 automatically since I set the TP at that or will it be sold at 19.000, which is the actual price?

 
I am not understanding what your question means!
However, 
- If the position(s) you have are closed @ Friday but the TP is not what you looked for then let me tell you that it is possible and it may be because it is server and/or broker latency in the crazy move of the market.
- If position(s) still not closed in TP and you are waiting the Monday market to open then they won't be closed untill they reach the TP price level. You must focus on the spread in this case! It could make a big confussion for you.

ADDING A SCREENSHOT WILL HELP MORE.
 

it will be sold for 19.

 

1. Is hard take profit sitting in the server or in the exchange?  

2. Once take profit is hit, does the order turns to market order or limit order?

3. If the take profit is on the exchange, does it keep its priority in the queue?

 
462700:

Hi guys,

I have set the Take Profit to a certain amount.

The market is now closed and the price has gone way past my TP.

What actually happens when the market opens? Will the TP take place at my set price or market price?


Your order will be closed, responding to your take profit setting, but at the higher (or lower) price that opened.

 

Please go to chart settings F8 and check show ask line.

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