HELP! Price Point Issue: Passing TP but not Closing

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Morning traders,


Thomas here, FOREX trader for Freedom Day Trading. Been using a new approach to scalping and have been noticing an issue that has caused trades to go south. Today, I put in a T/P line of +3pips short in GBPCHF @ 1.27750, T/P 1.22720. The price dropped to a low of 1.22716 yet did not close out my trade. The only theory I have would possible be the spread calculated in but shouldn't the trade close out once it hits the price? Any help would be appreciated


Cheers,

~Thomas

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You buy at the Ask and sell at the Bid. So for buy orders you pay the spread on open. For sell orders you pay the spread on close.
  1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid reaches it. Not the Ask. Your SL is shorter by the spread and your TP is longer. Don't you want the same/specified amount for either direction?
  2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask reaches it. To trigger at a specific Bid price, add the average spread.
              MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25
  3. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (Control-O) → charts → Show ask line.)
 
William Roeder:
You buy at the Ask and sell at the Bid. So for buy orders you pay the spread on open. For sell orders you pay the spread on close.
  1. Your buy order's TP/SL (or Sell Stop's/Sell Limit's entry) are triggered when the Bid reaches it. Not the Ask. Your SL is shorter by the spread and your TP is longer. Don't you want the same/specified amount for either direction?
  2. Your sell order's TP/SL (or Buy Stop's/Buy Limit's entry) will be triggered when the Ask reaches it. To trigger at a specific Bid price, add the average spread.
              MODE_SPREAD (Paul) - MQL4 programming forum - Page 3 #25
  3. The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools → Options (Control-O) → charts → Show ask line.)

William,


Thank you! That makes a lot of sense. Appreciate you reaching out.


Cheers,

~Thomas

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