Would the below msg be regarded as not SL hunting or is SL hunting? Better or worse do I need to consider changing brokers?
A MT4 update was put in place today at rollover regarding T/P and S/L order handling. This effects all new orders going forward. Here are the details:
Previous behavior:
Client has position and adds Take Profit only (T/P), T/P is sent to ECN as Limit and displays in quote
Client has position and adds Stop Loss only (S/L), S/L is held on bridge until S/L price hits, then sends as market order
Client has position and adds T/P AND S/L, this is held on the bridge until either T/P or S/L hits, then a market order is sent
New behavior:
Client has position and adds Take Profit only (T/P), T/P is sent to ECN as Limit and displays in quote
Client has position and adds Stop Loss only (S/L), S/L is held on bridge until S/L price hits, then sends as market order
Client has position and adds T/P AND S/L, the T/P is sent to the ECN as a Limit order. If it fills, order is closed. Bridge continues to monitor the price. If S/L hits instead, T/P is canceled and then a market order is sent.
Therefore, a customer will always get their T/P price or better (not worse), even if they have both a T/P and a S/L. If you have any questions, please email [color=#416299][email protected] directly. Do not reply to this email within MT4.[/color]
Best Regards,
MB Trading Futures, Inc.
1926 East Maple Avenue
El Segundo, CA 90245
www.mbtrading.com
A MT4 update was put in place today at rollover regarding T/P and S/L order handling. This effects all new orders going forward. Here are the details:
Previous behavior:
Client has position and adds Take Profit only (T/P), T/P is sent to ECN as Limit and displays in quote
Client has position and adds Stop Loss only (S/L), S/L is held on bridge until S/L price hits, then sends as market order
Client has position and adds T/P AND S/L, this is held on the bridge until either T/P or S/L hits, then a market order is sent
New behavior:
Client has position and adds Take Profit only (T/P), T/P is sent to ECN as Limit and displays in quote
Client has position and adds Stop Loss only (S/L), S/L is held on bridge until S/L price hits, then sends as market order
Client has position and adds T/P AND S/L, the T/P is sent to the ECN as a Limit order. If it fills, order is closed. Bridge continues to monitor the price. If S/L hits instead, T/P is canceled and then a market order is sent.
Therefore, a customer will always get their T/P price or better (not worse), even if they have both a T/P and a S/L. If you have any questions, please email [color=#416299][email protected] directly. Do not reply to this email within MT4.[/color]
Best Regards,
MB Trading Futures, Inc.
1926 East Maple Avenue
El Segundo, CA 90245
www.mbtrading.com