Did you guys know that...
1. You cannot place pending orders very close to the market price. Most of the brokers have minimum distance of 3 to 10 pips.
2. You cannot expire an order before ten minutes.
This is so frustrating. I really don't understand why these pip distance and time distance rules. Can somebody please explain why.
Also to me the first rule means that you can never really very cleanly place an buy order one pip above/below the close of the last completely formed bar. Any ideas to beat this first rule with a smart program????
Regards
Brijesh
1. You cannot place pending orders very close to the market price. Most of the brokers have minimum distance of 3 to 10 pips.
2. You cannot expire an order before ten minutes.
This is so frustrating. I really don't understand why these pip distance and time distance rules. Can somebody please explain why.
Also to me the first rule means that you can never really very cleanly place an buy order one pip above/below the close of the last completely formed bar. Any ideas to beat this first rule with a smart program????
Regards
Brijesh