Is this correct? (About Limit order) | Forex Factory

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Is this correct? (About Limit order)

  • #1
  • First Post: Nov 29, 2006 10:10am Nov 29, 2006 10:10am
I opened a long on eur/usd at 1.3100 last Friday, with TP of 1.3120. The target was hit early monday when market opened (at over 1.3160), however my position was closed at 1.3120 instead of over 1.3160! Is that correct for limit order? Using MT4 here, live trade.

I just realized it a moment ago tho . Thanks in advance for replying.
Tra-X
  • #2
  • Nov 29, 2006 10:17am Nov 29, 2006 10:17am
Quoting Traex
I opened a long on eur/usd at 1.3100 last Friday, with TP of 1.3120. The target was hit early monday when market opened (at over 1.3160), however my position was closed at 1.3120 instead of over 1.3160! Is that correct for limit order? Using MT4 here, live trade.

I just realized it a moment ago tho . Thanks in advance for replying.
Wherever you set your limit is where they knock you out.........unless it's going against you (ie. your STOP), then suddenly you see lots of slippage. LOL
  • #3
  • Dec 4, 2006 4:52pm Dec 4, 2006 4:52pm
they wont give u any free pips :
TP did what it had to do
  • #4
  • Dec 5, 2006 1:53pm Dec 5, 2006 1:53pm
Depends on your broker...Some brokers open their trading earlier & thus when a certain currency pair gaps up or down, it's just normal trading to them as their trading is already open while it's gapping on other brokers platforms...Oanda for example is open for trading all the time, they compensate the risk by widening their spread..


Thanks,

Nader
  • #5
  • Dec 6, 2006 3:01am Dec 6, 2006 3:01am
Quoting narafa
Some brokers open their trading earlier & thus when a certain currency pair gaps up or down, it's just normal trading to them as their trading is already open while it's gapping on other brokers platforms...
Thanks,

Nader
How if it happened reversedly ?

thankz...
  • #6
  • Dec 7, 2006 1:57am Dec 7, 2006 1:57am
I think you are right. limit buy should help us make more profit in the case .

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I think I misread your question. your position closed at exit target but not the high 1.3160 ? if that, I have to say it's real bad .....

I suggest you change to other broker....
  • #7
  • Dec 7, 2006 2:53am Dec 7, 2006 2:53am
Quoting bluewingsAngel
I think you are right. limit buy should help us make more profit in the case .

-------------------------------------------------------
I think I misread your question. your position closed at exit target but not the high 1.3160 ? if that, I have to say it's real bad .....

I suggest you change to other broker....
Yep, I set TP at 1.3120 n it closed exactly at that price when the price was at 1.3160+ (huge gap at last week's open) and my broker doesn't open during weekend. Oh well, this isn't an ideal world.
Tra-X
  • #8
  • Dec 8, 2006 5:36am Dec 8, 2006 5:36am
then that's not fine, in the case they should close your position at 1.3160 and you get more profit.... but different broker has different rule, we have to accpet ...
  • #9
  • Dec 8, 2006 7:02am Dec 8, 2006 7:02am
Quoting Traex
I opened a long on eur/usd at 1.3100 last Friday, with TP of 1.3120. The target was hit early monday when market opened (at over 1.3160), however my position was closed at 1.3120 instead of over 1.3160! Is that correct for limit order? Using MT4 here, live trade.

I just realized it a moment ago tho . Thanks in advance for replying.
Which broker? Just curious.
  • #10
  • Last Post: Dec 8, 2006 12:48pm Dec 8, 2006 12:48pm
Quoting Geldschlucker
Which broker? Just curious.
It's FXDD.
Tra-X
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