SL TP & Pending Orders @ ODL Securities | Forex Factory

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SL TP & Pending Orders @ ODL Securities

  • #1
  • First Post: Sep 15, 2009 3:52pm Sep 15, 2009 3:52pm
I currently trade FX with ODL and every SL TP & pending order I have with them has to be 20 pips from the price.

ODL is my only broker experience but I would like to set my SL as 5, 10 pips at times.

Is this policy the same with other brokers?

HarrY
  • #2
  • Sep 15, 2009 4:36pm Sep 15, 2009 4:36pm
Some firms do impose limits on how near to the current market you can place orders, but most do not. I would not trade with any firm who does this, and 20 pips is really ridiculous.
  • #3
  • Sep 15, 2009 4:50pm Sep 15, 2009 4:50pm
Hi, thanks for replying. I live with it but it is a pain even if the spreads are good.

Can you recommend one I can set TP & SL as I choose?

HarrY
  • #4
  • Sep 16, 2009 1:20am Sep 16, 2009 1:20am
Quoting arry01
I currently trade FX with ODL and every SL TP & pending order I have with them has to be 20 pips from the price.

ODL is my only broker experience but I would like to set my SL as 5, 10 pips at times.

Is this policy the same with other brokers?

HarrY
you are wrong, they have fractional pips now, that 20 pips means 2 pips
  • #5
  • Sep 16, 2009 6:43am Sep 16, 2009 6:43am
Since they have 5 Digits so this means

20= 2 Pips

Quoting arry01
I currently trade FX with ODL and every SL TP & pending order I have with them has to be 20 pips from the price.

ODL is my only broker experience but I would like to set my SL as 5, 10 pips at times.

Is this policy the same with other brokers?

HarrY
Charting Markets into the Future...MǎҖ€¥.
  • #6
  • Sep 16, 2009 8:11am Sep 16, 2009 8:11am
If I set a pending order I can have that SL. If I sell by market and then try and set a SL for 2pips after I might be ahead 10 pips Im pretty sure I can not (im at work).

In this instance I must be 20 pips from price.

Are you guys with ODL?

HarrY
  • #7
  • Sep 16, 2009 1:41pm Sep 16, 2009 1:41pm
Quoting arry01
If I set a pending order I can have that SL. If I sell by market and then try and set a SL for 2pips after I might be ahead 10 pips Im pretty sure I can not (im at work).

In this instance I must be 20 pips from price.

Are you guys with ODL?

HarrY
bro the best answer is from your broker, why don't you use there live chat and just ask the freaking question, instead of going thru a forum to get a answer, your broker will know best.
  • #8
  • Sep 22, 2009 4:07pm Sep 22, 2009 4:07pm
Quoting arry01
I currently trade FX with ODL and every SL TP & pending order I have with them has to be 20 pips from the price.

ODL is my only broker experience but I would like to set my SL as 5, 10 pips at times.

Is this policy the same with other brokers?

HarrY

Love the company, but hate the MT4 platform.
  • #9
  • Sep 22, 2009 6:59pm Sep 22, 2009 6:59pm
lol most fx traders mt4 fans

Quoting mike999
Love the company, but hate the MT4 platform.
Charting Markets into the Future...MǎҖ€¥.
  • #10
  • Last Post: Sep 23, 2009 10:11am Sep 23, 2009 10:11am
Quoting MaXeY
lol most fx traders mt4 fans
Thats why most fx traders lose, average of 80-90% lose.

Thanks MT4 bucket shops
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