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buy stop / sell stop question

  • #1
  • First Post: Mar 6, 2008 10:44am Mar 6, 2008 10:44am
hello,
today i was testing something on demo account on interbankfx platform. Lets say the price was 100.00, I have made 2 waiting transactions:

buy stop on 100.50
sell stop on 99.50

the price moved up and triggered the buy stop - opened transaction and went down. To my surprise the sell stop worked as the SL and my buy order stopped out. Why?
  • #2
  • Mar 6, 2008 10:47am Mar 6, 2008 10:47am
Quoting young_wu
hello,
today i was testing something on demo account on interbankfx platform. Lets say the price was 100.00, I have made 2 waiting transactions:

buy stop on 100.50
sell stop on 99.50

the price moved up and triggered the buy stop - opened transaction and went down. To my surprise the sell stop worked as the SL and my buy order stopped out. Why?
I would ask IBFX about this rather.
Carpe Divitiae
  • #3
  • Mar 6, 2008 11:31am Mar 6, 2008 11:31am
Hmm... Well what I wanted to ask is, if this is a common situation which happens on other broker's platform as well. If I remember good on Oanda, when I tested their platform something similiar happened.
  • #4
  • Mar 6, 2008 6:52pm Mar 6, 2008 6:52pm
Many brokers won't allow you to have long and short positions open at the same time on the same pair.
You had a long position open--the one executed by your buy stop. When your sell stop was hit, it acted as what it really is--a stoploss. Otherwise you'd have just had two opposing positions open, canceling out each others' moves pip by pip, except for the initial loss incurred by the decline of your original long position.
  • #5
  • Mar 6, 2008 7:30pm Mar 6, 2008 7:30pm
i've been with IBFX live for about a year now, and that never happened to me, they allow open buy and sell,
better call life support, on their website, prepare the order id number, and they'll check it for you

so far i 've only got problem where the swap was not paid ( 2 times )
  • #6
  • Mar 7, 2008 5:31am Mar 7, 2008 5:31am
mmm yes
but I can have 2 open positions at the same time but when i open them manualy, if i set the buy stop / sell stop, it automatically works as the stop loss for the opposite transactian.
I will make some more resarch regarding this topic.
  • #7
  • Mar 7, 2008 5:34am Mar 7, 2008 5:34am
Quoting young_wu
mmm yes
but I can have 2 open positions at the same time but when i open them manualy, if i set the buy stop / sell stop, it automatically works as the stop loss for the opposite transactian.
I will make some more resarch regarding this topic.
If you mean in the same order ticket, then it is essentially 1 order.
A type of OCO order. You are setting the "stop-loss" for your initial order.

I thought you meant opening two separate orders.
1 Long, with it's respective SL/TP
1 Short, with it's respective SL/TP
That's why I said speak to IBFX, as I know they allow "hedging" orders on the same pair.
Carpe Divitiae
  • #8
  • Mar 7, 2008 5:44am Mar 7, 2008 5:44am
No, not 1 order ticket. What I exacty do, lets say the price is 100.25:

1) I set buy stop at 100.50 (for example) - buy stop order opened and waiting for execution (ticket 1#)

2)now, I set sell stop at 100.00 - sell stop order opened and awaiting for execution (ticket 2#)

In this case the price moving towards the first stop, lets say it is the buy stop, it triggers it - so now in long position. Suddenly the price moves down just to touch the second stop, but what happens now... short position didnt open, it just worked as SL for long.

Sorry for repeating this, just for avoiding some questions...
  • #9
  • Mar 7, 2008 5:47am Mar 7, 2008 5:47am
Quoting fsiltd
I thought you meant opening two separate orders.
1 Long, with it's respective SL/TP
1 Short, with it's respective SL/TP
That's why I said speak to IBFX, as I know they allow "hedging" orders on the same pair.
You thought good - two seperate orders..
  • #10
  • Mar 7, 2008 5:50am Mar 7, 2008 5:50am
Quoting young_wu
You thought good - two separate orders..
Then somethings deffo gone wrong with your IBFX account.
They should and usually do, treat them as 2 separate, non-related orders.
And do allow "hedging" long&short on the same pair.
So, again, e-mail/ring their customer service and complain.
(unless it's a demo account, then don't waste your time/breath)
Carpe Divitiae
  • #11
  • Mar 7, 2008 9:09am Mar 7, 2008 9:09am
yes it is demo account, as I mentioned before

Thanks for your interest m8
  • #12
  • Mar 7, 2008 10:09am Mar 7, 2008 10:09am
Quoting young_wu
hello,
today i was testing something on demo account on interbankfx platform. Lets say the price was 100.00, I have made 2 waiting transactions:

buy stop on 100.50
sell stop on 99.50

the price moved up and triggered the buy stop - opened transaction and went down. To my surprise the sell stop worked as the SL and my buy order stopped out. Why?
Try reinstalling it

Yuna
  • #13
  • Mar 7, 2008 7:07pm Mar 7, 2008 7:07pm
Quoting young_wu
hello,
today i was testing something on demo account on interbankfx platform. Lets say the price was 100.00, I have made 2 waiting transactions:

buy stop on 100.50
sell stop on 99.50

the price moved up and triggered the buy stop - opened transaction and went down. To my surprise the sell stop worked as the SL and my buy order stopped out. Why?
Not sure if you are going to understand all of this but here goes.
Looks like you are looking for a "Side Door"
You will close the current door when you realize the failsafe.
You may procceed to the Next Side Door, but, I suspect, the result will be the same.

When you have finished checking ALL side doors...
You will be back at the Start Line.

Gonna' Play?
Havta' Stay!
  • #14
  • Last Post: Mar 8, 2008 12:57am Mar 8, 2008 12:57am
Quoting Bemac
Not sure if you are going to understand all of this but here goes.
Looks like you are looking for a "Side Door"
You will close the current door when you realize the failsafe.
You may procceed to the Next Side Door, but, I suspect, the result will be the same.

When you have finished checking ALL side doors...
You will be back at the Start Line.

Gonna' Play?
Havta' Stay!

You should have added:
Try to ensure doors don't hit you in the arse on your way through them...
Carpe Divitiae
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