OANDA limit order cancelled [high market volatility]

Setting a limit order on EURUSD before the release of non-farm payrolls would have been profitable using OANDA, except that my limit order (with TP and stop pre-set) did not execute. Reason given by OANDA per activity history: BV:TP.

OANDA website FAQ only explains that BV is bounds violation. I did not set any bounds however unless the order failed to execute since the market was already above the TP level when it tried to execute.

Will be getting 'official' explanation from OANDA soon and will post their response.

If anyone has had similar experiences [/ comments] with limit orders of OANDA, please post them in response.

Before the NFP release I was long EUR/USD at 1.2100 with a t/p set to 1.2109. Upon release it spiked up and did NOT trigger my t/p. I managed to manually close out the trade at 1.2129 but not without having FXTrade freeze and reboot several times.............Very Scary

Most of the time, if you place an entry order at a specific price the transaction may not execute as the value jumps past your price level too quickly and they will not accept the trade, because you order is trying to enter the trade below the current price.

You need to place an order that tells Oanda to place your trade at the best value at the time it hits the price you set. Then if it jumps past it you will have your order placed. It might be a little higher than you wanted to enter.

Funny how that works, it always takes your stop out. But it never seems to give you a fill on the entry.

You could have a look at AC MArkets. There main selling point is they always give you the price on the screen. Entries, stops and limits in all market conditions.

Firstly, thanks to those of you who responded to my original post.

OANDA's official reponse is that the limit order was triggered on very heavy volume and the price jumped (in one price tick) through my entry price as well as my take profit level.

I guess that the order being cancelled is also a protective measure for the trader since - if the broker were to fill the order with slippage and with the whip-lash of the market at the time of NFP, the trader could have incurred a loss (stop being hit due to market whip-lash).

Regards,