[Trader's Handbook] Draft articles, "out of pocket" discussions - page 7
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That's the point.
As an alternative to answering your first question, you may start sending Limit orders a few (?) pips before the "target" price, simultaneously arranging a market order (for example, through stops). If you are lucky, the order will be executed by the Limit order. However, the matter may reveal itself in such a case.
I wanted to show by asking questions that sometimes the target (well-timed position correction) is worth the cost.
A limit order cannot be placed anywhere you want - the limit is a few pips from the current price. When setting a market order, a certain number of points of price slippage is set, the execution level comes out about the same. For scalping, perhaps 1-2 points is significant, but when the target is 15 pips or more... And the execution may be even better than in the pending order (I mean Forex; at the Stock market it is different). Limit is like a confirmation in trend direction, but trends became shorter and market entry is at best 1/3 or 1/2 of a trend. The question what is better limit or market - in quality of their execution, moreover limit orders are displayed by brokerage companies in forex, i.e. there is always a base for manipulation. Also I was a supporter of limit orders but they changed my mind. Now my Expert Advisor supports execution at the market price. time will tell.
A limit order cannot be placed anywhere you want - the limit is a few pips from the current price.
When a market order is placed, a certain number of points of price slippage is set, the execution level comes out about the same.
You have to be very precise and precise about where it all happens.
According to your words - MT4/5. But in stacks (banks, exchanges) there are no such restrictions as you write - stop levels and freezing levels.
Is it a trader's guide or something broader? It seems reasonable to see the market from all angles. Such a comprehensive view does not put you into an artificial framework of understanding market processes.
I want to understand if this is a dabble or something more serious, for which it's easy to get banned? For me, there are only two options: talk back or keep quiet.
P.S. Renat openly went to war after the Cyprus iFXExpo summit. Speaking without prejudice will not work here 100%
A limit order cannot be placed anywhere you want - the limit is a few pips from the current price. When setting a market order, a certain number of points of price slippage is set, the execution level comes out about the same. For scalping, perhaps 1-2 points is significant, but when the target is 15 pips or more... And the execution may be even better than in the pending order (I mean Forex; at the Stock market it is different). Limit is like a confirmation in trend direction, but trends became shorter and market entry is at best 1/3 or 1/2 of a trend. The question what is better limit or market - in quality of their execution, moreover limit orders are displayed by brokerage companies in forex, i.e. there is always a base for manipulation. Also I was a supporter of limit orders but they changed my mind. Now my Expert Advisor supports execution at the market price. Time will tell.
Is it a trader's guide or something broader? It seems reasonable to see the market from all angles. Т
Of course we can. There's more than one MT. Get to the root of it.
I also would like to know if I am playing around here or it is something more serious and easy to get banned?
I don't think it's forbidden to talk about the operation of an exchange.
Discussing and complaining about brokers, yes. But not the functionality and technique of the exchange.
For me there are only two options: either talk or stay quiet.
The questions are as follows.
- Bid rate, Bid, Ask, Last price.
- Differentiation of markets (Stocks, Forex, etc.)
- The life cycle of an order, from pressing the buy/sell button by a trader to its execution and entering in the table of all deals (preferably with diagrams)
after the iFXExpo summit in Cyprus.
it's high time to clean up the mess and go to war.
It has been said and discussed about ten times.
here https://www.mql5.com/ru/forum/12311/page3#comment_510673
and here https://www.mql5.com/ru/forum/12311/page4#comment_510695
Forum on trading, automated trading systems and testing trading strategies
MetaQuotes, help MyFxBook!
Renat, 2013.05.28 08:04
All services that use hacked network protocols are blocked. This applies to Tradency, and a number of other companies. They all use illegal methods of connection and directly violate our rights and licenses to use the platforms.They can no longer be helped here.
To be honest, I'm not interested in talking about exchanges at all. From an algorithmic point of view, it is relatively primitive.
I think I have told you everything about the market and prices on the exchange. The life cycle of an order on the exchange is very simple. No schemes are needed here.
Imagine that you are a broker. Then imagine that you are the stock exchange. What actions you will do when a trade order is received.
Everything here is so elementary that it is even difficult to understand what to tell.
Check for the correctness of the trade order. If it is not correct, it is rejected. Correct - it has been placed in the glass. It is necessary to correct Ask <= Bid - it has been corrected. It has all been written.
To be honest, I'm not interested in talking about exchanges at all. From an algorithmic point of view, it is relatively primitive.
I think I have told you everything about the market and prices on the exchange. The life cycle of an order on the exchange is very simple. No schemes are needed here.
Imagine that you are a broker. Then imagine that you are the stock exchange. What actions you will do when a trade order is received.
Everything here is so elementary that it is even difficult to understand what to tell.
Check for the correctness of a trade order. If it is not correct, it is rejected. Correct - it has been placed in the glass. It is necessary to correct Ask <= Bid - it has been corrected. Everything has been written.
)), but what, if not about the stock exchanges to talk in a branch with a topic about the stock exchanges?
If my broker has not got the requisition, I cannot help but wonder about the technical part.
I pressed the button to buy 1 kg of potatoes for 10 rubles. I pressed the button to buy 1 kg. potatoes, then the request flew to the broker (here's where it goes to the broker, the market maker or in some algorithm or some intermediate kitchen),
then the broker sends it to the exchange where this request appears()
and in general, this is the broker's request or is it still my request?
and so on.
Yes, as far as I understand the market order is executed by the broker,
i.e. he fires a bunch of limit orders at the best price (if buying, then at the best sell, if selling, then at the best buy), until the volume set by the client is fulfilled.
Am I thinking correctly or not?
Yes, as far as I understand the market order is executed by the broker,
i.e. the broker fires a bunch of limit orders at the best price (if buying, then at the best sale, if selling, then at the best buy), until the volume set by the client is fulfilled.
Am I thinking correctly or not?
No, we're not talking about kitchens, we're talking about a normal STP business.
The broker pools on the Provider what the trader has let him do. Of course, if the Provider can accept the type of orders imposed by the trader.
all Providers support market/limit orders. The other ten are optional.