When you see this error, you should know that you have made a mistake either in choosing the order type, or in entering the correct order price. However, there is a much easier way to set the buy and sell stop and limit orders on MT4, without having to figure out which one to choose.
You can right click above the market current price, if you want to enter the market when the price goes higher. You can right click below the market current price, if you want to enter the market when the price goes lower. If you want to enter the market when the price goes higher than where it is now, then you have to right click above the market current price on the chart.
Similarly, if you want to enter the market when the price goes lower than where it is now, then you have to right click below the market current price on the chart. You will not have to enter the pending order price if you follow this method right-clicking on the price chart.
I used to be very uncertain and confused about Stop and Limit Orders until I use the reasoning that limit order would always be more profitable than stop order assuming same the same profit target.
For buy stop order the price set is above market price in long buy and below market price in sell stop order. For buy imit order on long buy one expects the price to fall below current market price before price moves up again. Price set at the level below current market price would earned extra pips compared with the buy stop above. Thanks for these good tips. I do have a question. Some limited options are shown in the volume drop-down menu.
You can enter the other volumes manually. I mean simulation to back test a trading strategy to know it performance in past market conditions before going live with it. Regarding the problem you mentioned, that looks strange to me because when you add and modify the charts and then close the platform, all you have done will be saved automatically when you close the platform.
So that when you open it again you will see everything you had done. This is what MT4 does automatically. Same for sell pending orders. What I can say about your effort for us! Even you have made it totally free for us! I want you to know that I have been spending hours daily to read your articles since last days. I just fall in love with your content and I am really grateful. Anyway I am a professional WordPress developer and want to learn as my second profession.
I noticed you are using WordPress as your blogging platform. If you want any help with your blog, I will be honored to help you and I will do it for free. Hi LuckScout Thank you very much for your informative post. May I know what to do if I want to sell instantly? Thanks again Chris, Youness and the above persons who give their comments, a million, long life, prosperity, and happiness to you both.
I have noticed when I was doing research on brokers, in their order execution policy, that some depending on platforms will treat Stop order as market order. It is normal to have the stop loss not triggered, or triggered at a different level during the strong news release.
You can always follow up with your comments here: Do you think is a safe idea? Yes, you can hedge when you want to close a position. Then you can close both positions at the right time and when the market is not too fast.
However, if the broker wants to slip, he can do it anyway. I am demo trading on MT4. My open position is one lot long executed a market buy order. What I do now is I place two sell limit orders, one for 0.
You cannot do that on MT4. Those two sell limits will open two new short positions and will not close the open long position. You have to close half of your position manually. Now i understand, thank you. Hello Chris , so I guess as there is no difference between pending orders and these ones you explained, if we are not in the platform the order wont be executed? Hi Chris, I used to be confused with those terms until I read your beautiful post.
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