Interesting! Turns out SL means nothing!
Big gaps in the middle of the week are quite rare. And there is nothing to trade between weeks. This condition is easy to set in the Expert Advisor.
Do not trade with large lots against gaps in the middle of the week. At any entry one should consider some probability of price movement against oneself for 200-300 points just in case... Or don't trade at all, do something else, more risk-free :)
It's probably a well-known fact to everyone, but it was a complete surprise to me to learn that the SL accepted, by DC, can be executed at prices different from the posted 4 spreads!
"Welcome to the real world, Neo."
In a gap, a stop loss can be set as far away from the set SL as you like. It can be as much as a hundred pips, and not 4 spreads.
On a gap only a take profit works well and reliably. If price jumps in the profitable direction and after the gap is much farther away than the take profit, don't worry - the take profit will close the position exactly at the price where it was set. Take Profit, unlike Stop Loss, does not fail :)))
This is absolutely correct and logical, there is nothing funny about it. This is exactly how it works in real trading. Any deviations from this practice are a sign of "kitchen-ness".
Some brokers offer a guaranteed stop-loss, but that's a separate story and that's for some (quite serious) money.
Some brokers offer a guaranteed stop loss, but that's a separate story and that's for separate (quite serious) money.
But it's just that a normal broker can't give you a stop-loss guarantee... After the weekend, if it's not at the level of the counter application, it won't "give birth", so such guarantees are a sign of kitchens, and normal brokers reduce the leverage even before the weekend, so there is no risk of the client "to fly into backlash" strongly...
Probably everyone knows this fact, but for me it was a complete surprise to learn that the SL accepted by the DC can be executed at prices different from the 4 spreads!
Almost everywhere with a (well, very) rare exception all brokerage companies unambiguously specify (not in the rules, of course) when opening/closing trades:
Limit orders (Take orders) are executed at a stated price.
Stop-loss orders are executed with a slippage.
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Hence - draw the conclusion, with all that follows.... ( - at gaps you are always in a potential loss, if the order hits the gap)
Curiously, that climbing shamelessly into our pockets in that way, the employees of DC explain such a state of affairs - allegedly, the existing world practice of exchange trading! (That's not true either)
That's exactly what a normal broker cannot guarantee a stop-loss... >> that's why such guarantees are the sign of kitchens, and normal brokers even before weekend decrease leverage, so there's no risk for client to "fly into backlash" strongly ...
Are you familiar with forwards, futures, swap-contract?
Well, for some serious money, a serious broker can provide a guaranteed stop-loss for his client with the help of such instruments. This does not apply to mini-micro lot brokerage firms.
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Probably everyone knows this fact, but for me it was a complete surprise to learn that SL, accepted by DC, can be executed at prices different from the posted 4 spread!
Interesting to hear the opinion of experts, on the creation of experts, on this statement. How then can anything be tested or traded at all?
Not to be unsubstantiated, here is a link to close trades at a price different from SL. Starting with post 7.
It turns out that all EAs implementing systems that make money on GEP - can not work because of these conditions!