why didn't my TP get executed?

Yesterday I placed a trade on GBP/USD short. My trade was set to enter at 8945. I had a TP set for 8898 and a SL set for 8989.

The chart shows my entry, SL, and TP.
[img=http://img90.imageshack.us/img90/8590/gbpusdqk1.th.gif]
OK, here's the thing. According to the chart, price went as low as 8895, a full 3 pips below my TP, but the TP order was not executed. Instead I got stopped out at 8989.

Now, you might say, well, it's the pip spread. If that's true, then how come my SL was executed at exactly the price I specified and not off by 3 or 4 pips?

Any help would be appreciated.

My understanding is that metatrader charts prices are based on the BID price. I presume the spread is 4 pips. Therefore when price reach 8895 the corresponding ASK price was 8899. Since your order was to BUY to cover your short, you would be buying at the ASK price. Looks to me like you missed it by one pip.

I don't normally use the trading interface, but I checked on my SBFX and see there is a 3 pip spread. This happens to be at 2:26 AM EST - Euro markets are open/opening. If the spread was 3 pips at the time you placed your trade then your T/P should have been filled.

The only thing I can think of besides pure software sloppines is that perhaps SBFX simulates the actions of some brokers who widen spreads at major news times, which happened to be the case when you took your trade.
The broker I use 0anda widens spreads at news times and over the weekend.

If they did widen the spread during that time, then I can understand why you weren't filled at your requested price.

This is all my own speculation, have you contacted Strategy Builders and asked them what was the story?

Leib

Some times, some brokers steal your pips! Perhaps it's happened for you too, yesterday.

did your Ask price hit the TP? To close a short you need your the Bid price on your chart go below the TP 3-5 pips depending on spread.

Leib, I think you are correct. The chart shows BID price and I have a 4 pip spread, so I missed it by 1 pip.

Hi again Volan,

I checked again on my SBFX MT4 platform and saw the spread at 4 pips at some point this morning vs the 3 I mentioned last night, so it looks like my theory was sound.

You can always see what is going on with the spread by either opening a trade ticket and you'll see the bid/ask prices or keep the tick chart open (View>Marketwatch>Tick Chart).

Leib

The platform he is using is a demo account, there aren't any pips to 'steal' LOL, unless they are trying to train him for real life trading!