Order Bid/Ask: Does this make sense?

Hi all, I am still learning to trade, so please bear with me. So I had a trade that I thought went bad because of a broker manipulation, but I am not sure. I don't quite understand what they meant by their reply when I posted a complaint to them about the situation. I have attached the e-mail which I sent to them, and the one they replied to me with. Essentially I placed an "ask" order to sell the Eur/Chf pair, and somewhere along the lines, it was converted to a "bid" order which caused me to miss a trade. This has now happened to me on three occasions. I have attached a screen shot of my order activity. Hope someone can help me understand their reply. Otherwise I will likely continue to be skeptical of broker practices. Thanks CH
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Hi, today and yesterday I came across a situation where my order entries were changed by the third party. Yesterdays trade dilemma has caused me to miss a 50 pip gain, by missing the order entry. It only missed the execution because my order was changed from a bid (my entry) to a ask (third party).

Todays issue is as follows: Order ID #24586857 and Position ID# 4599225

I placed an order to sell the Eur/Chf using an ask order with a 1 pip slippage. The order initially went through, but was then changed to a bid order by the third party. Can you please explain why this happened?

Thank you CH

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Dear sir,

According to the trading records, the position #4599225 has opened by an entry order sell limit on 02/25/2011,
placed manually, and executed at 15:05:31.
The position was then closed partially at 18:01:28, and the remaining of the position closed on 02/28/2011 at
08:44:36 by stop loss trigger.
The first attempt to execute (order #24586857) was rejected for because there was no longer available liquidity
at a price satisfying the conditions of the order for execution). Stop entry orders became limit orders if they
are rejected when triggered first.

Please do not hesitate to contact us should you have any questions, or need further clarification.

Best regards.

This is very confusing.


So, first-

Are you using an EA for these entries?
What is your objective exactly (and don't say bid or ask, lol)?
Where do you want to sell? and then sell more?
Where is your stop-loss?

As I see it, you had a short position, and the system accepted your
stop-loss order.

For whatever reason, Duskcopy doesn't like those Sell entry orders with that qualification (price)... if it's not there at that specific time it gets rejected.....but I suppose the system tries it again later?

Your stop-loss order is fine, and stored in the system....
Price jumps up, triggers your stop-loss Buy market order...
and they buy for you.

From what I see though, if price is above 1.2795....you should be selling again? That is not happening, those orders are rejected...

Quit using those Sell Entry orders like that....Duskcopy is "choking" on them for some reason.

But no, your orders didn't get "changed", as I saw, the only thing active in their system from your posted activity was the Buy Stop-Loss....I don't know what ultimately happened with those Sell Entry orders and their rejections.

Hope that helps.

Hi Intu, thanks for your response. I am not using a EA. My objective was to sell (20K) of the pair if it reached the 1.2796 (plus 1 pip buffer). I had the stop loss at 1.2807. I did not have a pre-set TP, I did this manually.

The quote that you had clipped and added to the your post is from the two different situations. The clip "It only missed the execution because my order was changed from a bid (my entry) to a ask (third party)" is from the previous days scenario, which we don't need to focus on. My isue is regarding the part where I say "today's issue....".

My lack of understanding is regrading the changed order from an ask to a bid order structure. In this Eur/chf situation, I profited later on in the trade which worked out okay. But the fact that the order structure changed is what's bothering me. Because in the previous days situation, the order was also changed, but from a bid to an ask, because I was trying to buy a pair. It turned out that by using the new "ask" structure, the price did not reach the price needed to execute the trade.

I would like to say, "hope that clarifies things", but somehow I highly doubt it. Cheers, CH

I don't understand what you mean by placing an "ask" order. You can place only buy and sell orders. If you buy, it must be at the ask price; and if you sell, it must be at the bid price.

Or, put another way, if it's a pending buy order, then it will be triggered when the ask price (as quoted by your br0ker) reaches your stipulated price; if it's a pending sell order, then it will be triggered when the bid price reaches your stipulated price.

Your br0ker's comment "Stop entry orders became limit orders if they are rejected when triggered first" doesn't make sense to me. If the pending order is below current market price, then it can only be a sell stop or buy limit; if above the market price, it can only be a buy stop or a sell limit. Hence to change from a stop order to a limit order implies a change from a buy to a sell, or vice versa. At least that's the way I understand it.