Hi,
I have a very basic question here but I hope someone will answer it for me.
If I place a buy stop at 1.9563 and I have a 3 pip spread, does the trade trigger at 1.9563 or does it trigger at 1.9560 or 1.9566 to allow for the spread.
Conversly, if I place a sell stop at 1.9543 and I have a 3 pip spread, does the trade trigger at 1.9543 or does it trigger at 1.9540 or 1.9546 to allow for the spread.
I would have thought that the trade would trigger on the nominated amount (1.9563 for the long trade and 1.9543 for the short trade) and the account would start at -3 pips.
I am asking this as I happened to be at the pc when a long was triggered and it seemed to trigger before it reached my line. If I was placing a buy stop 10 pips on the other side of a resistence and it was a pair with a 10 pip spread, I wouldn't be too happy if the trade triggered on the resisitence only to have the price bounce instead of breaking through.
Thanks for any replies
Mike
I have a very basic question here but I hope someone will answer it for me.
If I place a buy stop at 1.9563 and I have a 3 pip spread, does the trade trigger at 1.9563 or does it trigger at 1.9560 or 1.9566 to allow for the spread.
Conversly, if I place a sell stop at 1.9543 and I have a 3 pip spread, does the trade trigger at 1.9543 or does it trigger at 1.9540 or 1.9546 to allow for the spread.
I would have thought that the trade would trigger on the nominated amount (1.9563 for the long trade and 1.9543 for the short trade) and the account would start at -3 pips.
I am asking this as I happened to be at the pc when a long was triggered and it seemed to trigger before it reached my line. If I was placing a buy stop 10 pips on the other side of a resistence and it was a pair with a 10 pip spread, I wouldn't be too happy if the trade triggered on the resisitence only to have the price bounce instead of breaking through.
Thanks for any replies
Mike