Please help - my EA incorrectly opened positions at market opening after weekend | Forex Factory

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Please help - my EA incorrectly opened positions at market opening after weekend

  • #1
  • First Post: Edited Feb 28, 2011 3:41am Feb 27, 2011 9:18pm | Edited Feb 28, 2011 3:41am
I left my EA running over the weekend and at 2011.02.27 2300 hrs (market opening?) the EA opened a position for all my currency pairs that was trading with the EA. The lot size was correct (considering the level of martingale the currency was at), and the tp adjustments was also correct. However, the price was of course wrong.

The price had not reached the desired level. In other words, the stipulated pipstep was not adhered to.

It appeared as though the EA accepted the first tick after the weekend and opened a position. Anyway I don't know what might have caused it to behave that way. The EA should have referred to the correct pipstep before simply opening a position.

Any advice would be appreciated. Thanks.
  • #2
  • Feb 27, 2011 9:27pm Feb 27, 2011 9:27pm
The trade probably got triggered by market opening spread. When the market opens/closes spreads can gyrate wildly as banks pull/add liquidity. Your order probably got triggered by a wild spread.
  • #3
  • Feb 27, 2011 9:57pm Feb 27, 2011 9:57pm
Would this mean that the EA tried to open a position at the desired price but could not due to the wildly fluctuating spread?
Thanks.

Quoting Aja
The trade probably got triggered by market opening spread. When the market opens/closes spreads can gyrate wildly as banks pull/add liquidity. Your order probably got triggered by a wild spread.
  • #4
  • Feb 27, 2011 10:07pm Feb 27, 2011 10:07pm
If the order was a pending order with a 25 pip gap and the spread jumps to 20 - The price only have to move 5 pips to trigger your order instead of 25 pips (with a HUGE spread cost attached) - If the orders aren't PENDING orders than the EA is buggy.
  • #5
  • Last Post: Feb 27, 2011 11:03pm Feb 27, 2011 11:03pm
Hmm... I don't really understand how the spread can trigger the order though.

If the order was a 100 pip gap the EA should look at the bid price (if it was a buy order) so the spread shouldn't really matter?

Thanks.

Quoting Aja
If the order was a pending order with a 25 pip gap and the spread jumps to 20 - The price only have to move 5 pips to trigger your order instead of 25 pips (with a HUGE spread cost attached) - If the orders aren't PENDING orders than the EA is buggy.
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