Broker's spread problem- Enter trade higher unprofitable | Forex Factory

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Broker's spread problem- Enter trade higher unprofitable

  • #1
  • First Post: Oct 1, 2013 11:24pm Oct 1, 2013 11:24pm
Hi fellow seniors
I am new and I try to read more and practise over demo mt4 account.
Beside the immaturity of my skill to read the Market, and or chart, I found that I always enter at the higher value than what I expected. There are spread than impose by my broker (oanda) and I can't really get the profitable entry..am I doing something wrong?

Thanks for advise!!
  • #2
  • Oct 1, 2013 11:46pm Oct 1, 2013 11:46pm
Quoting nsn14
Hi fellow seniors I am new and I try to read more and practise over demo mt4 account. Beside the immaturity of my skill to read the Market, and or chart, I found that I always enter at the higher value than what I expected. There are spread than impose by my broker (oanda) and I can't really get the profitable entry..am I doing something wrong? Thanks for advise!!
Not sure what you mean ... but for BUY order, keep in mind that the entry price isn't the chart price. It's the Ask price. On a smaller TF, yes the entry may look higher than the candle!
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Oct 2, 2013 1:06am Oct 2, 2013 1:06am
Quoting FerruFx
{quote} Not sure what you mean ... but for BUY order, keep in mind that the entry price isn't the chart price. It's the Ask price. On a smaller TF, yes the entry may look higher than the candle!
Hi FerruFx
Ya, the BUY ORDER is much higher than chart price and the SELL ORDER is always much lower than chart price...

Once I confirm with chart to BUY (go long), I always BUY at the high price and usually the price won't go up to the point I BUY. (even though the price is going up...)
  • #4
  • Oct 2, 2013 1:12am Oct 2, 2013 1:12am
Quoting nsn14
{quote} Hi FerruFx Ya, the BUY ORDER is much higher than chart price and the SELL ORDER is always much lower than chart price... Once I confirm with chart to BUY (go long), I always BUY at the high price and usually the price won't go up to the point I BUY. (even though the price is going up...)
Yes the deal is to SELL high and BUY low

Welcome in trading!
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Oct 2, 2013 11:43am Oct 2, 2013 11:43am
yeah. just assume that what every the current price is. you're going to start about 1.5 pips down. either direction. This keeps the fees away.. I couldn't imagine paying a large per trade fee like the SM ugh.
  • #6
  • Oct 17, 2013 5:58am Oct 17, 2013 5:58am
Quoting nsn14
Hi fellow seniors I am new and I try to read more and practise over demo mt4 account. Beside the immaturity of my skill to read the Market, and or chart, I found that I always enter at the higher value than what I expected. There are spread than impose by my broker (oanda) and I can't really get the profitable entry..am I doing something wrong? Thanks for advise!!
right click > Properties > Common tab, then enable "show ask line".
  • #7
  • Oct 17, 2013 12:44pm Oct 17, 2013 12:44pm
If you are trying to make a profit off of 1-2 pips you are doing it wrong. I would focus on buying based on trends to get started (easier, and a good way to learn how charts behave etc.) Also let your position ride a little, you should not be sitting there watching the 1m chart scalping as a beginner. Focus on the 4h or 1d charts to see where things are headed. GL
  • #8
  • Oct 24, 2013 11:55am Oct 24, 2013 11:55am
Hi, I had a very similar experience when I first started trading also. Took some time to realize on a 1m or 5m time frame that the price movements really aren't that big. They look big on the chart but when looking at the actual pricecth movements are very small to cover the spread. Two things to consider :

1. What broker you use , as each broker offers different spreads
2. What currency pair you are trading. Each pair has different spreads. A common pair is eur usd, this typically has a low spread and Is easier to cover the spread.

but it is something you realize quickly thankfully and should not take to long to cater for the spread when planning trades.

All the best
  • #9
  • Last Post: Jan 6, 2021 5:24am Jan 6, 2021 5:24am
Regulated broker is safe option. Try it your own risk if you choose unregulated one. Check those brokers’ review and rating.
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