Ok, I thought I understood how these functions were supposed to work on GFT, but apparently not, all I can say is thankfully the trade went my way, and that I'm still on a demo account with them.
I entered into a trade on the G/J last night, long at 151.85, I set a limit at 152.20 and a stop at 151.35, then headed to bed. This morning when I woke up I find that the 152.20 line had broken and it appears the limit kicked in and took me out of the buy, so that part at least worked correctly.
But it also appears that after that 152.20 line broke the market retraced clear back to where my stop was at at 151.35. When that 151.35 broke it triggered a short position on GFT, and again thankfully when I woke up this morning to check it the market was sitting at 150.06.
In the future would it be better to try and make use of a OCO to make sure that if either my TP or SL line is hit that I wont automatically enter into a trade if the market retraces to hit my other line, and does anyone know GFT well enough they might be able to explain what happened last night on my account, I have a good idea, but would like to see it confirmed by some of the more experienced traders here.
Thanks for any advice you are able to give me on this matter.
I entered into a trade on the G/J last night, long at 151.85, I set a limit at 152.20 and a stop at 151.35, then headed to bed. This morning when I woke up I find that the 152.20 line had broken and it appears the limit kicked in and took me out of the buy, so that part at least worked correctly.
But it also appears that after that 152.20 line broke the market retraced clear back to where my stop was at at 151.35. When that 151.35 broke it triggered a short position on GFT, and again thankfully when I woke up this morning to check it the market was sitting at 150.06.
In the future would it be better to try and make use of a OCO to make sure that if either my TP or SL line is hit that I wont automatically enter into a trade if the market retraces to hit my other line, and does anyone know GFT well enough they might be able to explain what happened last night on my account, I have a good idea, but would like to see it confirmed by some of the more experienced traders here.
Thanks for any advice you are able to give me on this matter.