mt4 question

[highlander]

Hi I have 2 questions,

1)When I place a pending trade it only allows you to set it 20 or 30 pips away,is there anything you can do to change that?

2)When placing a trade the volume can be set between 0.01-0.05 and 1.00-8.00,what does this stand for, I presume a percentage of a $us but please let me know exactly

[snowman]

Hi I have 2 questions,

1)When I place a pending trade it only allows you to set it 20 or 30 pips away,is there anything you can do to change that?

2)When placing a trade the volume can be set between 0.01-0.05 and 1.00-8.00,what does this stand for, I presume a percentage of a $us but please let me know exactly

1. If you are using a 5 digit broker it 20 will stand for 2.0 and 30 will be 3.0

2.
1 lot equals 100,000 example. USD/GBP 1 lot = $10 a pip. you have control of $100,000
0.1 lots equals 10,000 example. USD/GBP 1 lot = $1 a pip
0.01 equals 1,000 example. USD/GBP 1 lot = $0.1 a pip

These are the ammount of currency units you have taken control of when in a trade. The movement of price on these units when you are in a trade is where your profit or loss comes from. According to the exchange rate between the Euro & what currency you trade in will determine how much a pip is worth.

Hope that helps. Its not something you really need to know. All you need to know really is how much 1 lot is so you can work out how much to place on each trade.

Cheers
David

[highlander]

Hi I have 2 questions,

1)When I place a pending trade it only allows you to set it 20 or 30 pips away,is there anything you can do to change that?

2)When placing a trade the volume can be set between 0.01-0.05 and 1.00-8.00,what does this stand for, I presume a percentage of a $us but please let me know exactly

1. If you are using a 5 digit broker it 20 will stand for 2.0 and 30 will be 3.0

2.
1 lot equals 100,000 example. USD/GBP 1 lot = $10 a pip. you have control of $100,000
0.1 lots equals 10,000 example. USD/GBP 1 lot = $1 a pip
0.01 equals 1,000 example. USD/GBP 1 lot = $0.1 a pip

These are the ammount of currency units you have taken control of when in a trade. The movement of price on these units when you are in a trade is where your profit or loss comes from. According to the exchange rate between the Euro & what currency you trade in will determine how much a pip is worth.

Hope that helps. Its not something you really need to know. All you need to know really is how much 1 lot is so you can work out how much to place on each trade.

Cheers
David

Hi David thanks for the reply,I have the Alpari uk demo account and it shows only from 0.01 to 0.05 and 1.00 to 8.00 so is the 1.00 one lot? and I have just tried to place a pending order and it states 30 pips I tried a long order on the GBP/USD and the price on the chart was 1.55081 and I tried at 1.55281 and was rejected

[snowman]

Hi Alasdair

1.00 is 1 standard lot
0.10 is 1 mini lot
0.01 is 1 micro lot

You can highlight the volume and change it to what you wish to trade, what you are looking at are just presets.

When your placing an order are you doing it right? By that I mean are you using Buy Stop & Sell Stop as opposed to using Buy Limit & Sell Limit.

Buy Stops are for the price continuing in the same direction for a Buy. This is what we use for aims setups.

Cheers
David

[snowman]

Hi Alasdair

If you check out this link it will explain about different order types.

http://www.babypips.com/school/types-of-orders.html" onclick="window.open(this.href);return false;

And some info on lots.

http://www.babypips.com/school/lots-lev ... -loss.html" onclick="window.open(this.href);return false;

Cheers
David

[highlander]

Hi David,

I am using the buy and sell stops will look into the rest and let you know,thanks againfor the help,

Alasdair.

[snowman]

Hi Alasdair

This is a screen shot form Alpari. Where its telling you the open order must differ from market price by at least 20 pips. is actually only 2.0 pips

Order screen.JPG

Cheers
David

[jayvee]

Hi Alasdair

This is a screen shot form Alpari. Where its telling you the open order must differ from market price by at least 20 pips. is actually only 2.0 pips

Cheers
David

Hi David. Alpari is a 5 digit broker so in reality their 20 indicated is actualy 2 pips. If they were a 4 digit broker( that is 4 decimal places it would have shown 2 pips.

All the best John.

[John Wimberley]

Jayvee has it right. 2 pips on EU for Alpari. Sometimes that will keep you out of a trade. There are some brokers who do not have this requirement. Dukascopy, for example.

[snowman]

Hi I have 2 questions,

1)When I place a pending trade it only allows you to set it 20 or 30 pips away,is there anything you can do to change that?

2)When placing a trade the volume can be set between 0.01-0.05 and 1.00-8.00,what does this stand for, I presume a percentage of a $us but please let me know exactly

Hi John & John

What I was trying to point out was that even though the trading platform order states clearly 20 pips, and Alasdair is reading it right, it is in fact only 2.0 pips. Clearly I didn't do a good job of it.

Cheers David