stop loss

New comment
 

on stop loss what did I do wrong I am new to FX trading so I a sure this is a simple question but I dont understand why it didnt close at the stop loss point. I did it the same as always and this doesnt happen.

buy            s/l              t/p      sold             loss

291.99      291.00    292.37    279.39         4880.00    

dont want to make the same mistake why didnt it close at stop loss point

Basic Principles - Trading Operations - MetaTrader 5 Help
  • www.metatrader5.com
Before you proceed to study the trade functions of the platform, you must have a clear understanding of the basic terms: order, deal and position...
 
newtraderz:

on stop loss what did I do wrong I am new to FX trading so I a sure this is a simple question but I dont understand why it didnt close at the stop loss point. I did it the same as always and this doesnt happen.

buy            s/l              t/p      sold             loss

279.99      291.99    292.37    279.39         4880.00    

dont want to make the same mistake why didnt it close at stop loss point


As a general rule in trading ... real or financial ... when you buy something ... if the price is higher than the purchase price, you don't have a loss,

So the stop loss price is always set below the buy price.

 

Look into the logs: Experts and Journal to see why it was closed.

Use https://www.mql5.com/en/docs/trading/ordercheck before sending the order.

Documentation on MQL5: Trade Functions / OrderCheck
Documentation on MQL5: Trade Functions / OrderCheck
  • www.mql5.com
OrderCheck - Trade Functions - MQL5 Reference - Reference on algorithmic/automated trading language for MetaTrader 5
 
it was a typo s/l was at 291.00  it was bought at 291.99 I have done this same thing before I know it isnt the best numbers but this has stop the loss everytime before at the time I entered. 
 

this is what I did. I thought it was right why did it let it go past the s/t

Files:
Screenshot_l6y.png  65 kb
 
newtraderz #:

this is what I did. I thought it was right why did it let it go past the s/t

Since it's a stock, it could have been a gap. So at time of passing your SL, there was no trading. Thus the loss. Like on weekend. You open on Friday, set your SL and on Monday market opens substantially lower.

Or there was no liquidity available to close your position at that SL point.

In 2015 the peg between EURCHF was removed. Price moved so hard, it skipped SLs. And whole platforms went bankrupt.

So this can happen. And has happened in the past.

You cannot do anything against such happenings. But you can take precautions. Use times of liquidity to trade, avoid times without trading at your broker.

Avoid news as well, and avoid high spread times.
 
newtraderz #:

this is what I did. I thought it was right why did it let it go past the s/t


As Dominik said ... there is a gap ... Wednesday's close is 291.26 and the Thursday's open is 279.56 ...

As the current price was lower than your stop level, the trade was closed just after the market opened.

 
newtraderz:

It will be better if you tell us the name of the instrument.
Stop/loss your non-market order to close the position when the price is below the specified price.
At the same time, the broker must close the order according to the market. But if the market goes lower, it will close at a worse price.

also its not mql issue, plz as you broker directly

 
it closed at 7/19  at 22:23:27  that makes sence thank you very much for the comments. Like I said I am still on a demo account, Very helpful
New comment