Hi guys
I'm finding an annoying limitation with my broker - for some reason I can't place a Buy or Sell order within x pips of the current price. This is messing up some strategies I am testing that look for a momentum change then givce me an alert and wan't me to place a buy or sell order to enter on the retrace/correction.
But this limitation on where I can place market orders is causing a problem. I can manually place the trade anywhere i want but then that means me sitting waiting for the correct price to enter the trade after the alert.
I have the same problem with stop loss sometimes
I asked my broker about this problem but basically they said they could understand how it may mess with my strategy but are unable/unwilling to fix this. Personally I think it's just intended to make my trading life more difficult a job than it already is
Anyway what I am thinking is, someone must have gotten around this problem already.
I've been looking for an EA, Indicator or something that opens the position when price hits the required price, instead of using a market order.
Something where I could manually place lines on the chart, one where I wanted to place an order but couldn't, and other lines where I want the stop loss and TP to go. Then it would open a position as required.
If it could also calculate the lot size dependent on the SL position and risk percentage that would be nice
Any recommendations - for MT4?
There must be something to do that I am sure. And if there is, then why did the broker put this limitation on me in the first place if I can easily get round it?
Cheers
Rich
I'm finding an annoying limitation with my broker - for some reason I can't place a Buy or Sell order within x pips of the current price. This is messing up some strategies I am testing that look for a momentum change then givce me an alert and wan't me to place a buy or sell order to enter on the retrace/correction.
But this limitation on where I can place market orders is causing a problem. I can manually place the trade anywhere i want but then that means me sitting waiting for the correct price to enter the trade after the alert.
I have the same problem with stop loss sometimes
I asked my broker about this problem but basically they said they could understand how it may mess with my strategy but are unable/unwilling to fix this. Personally I think it's just intended to make my trading life more difficult a job than it already is
Anyway what I am thinking is, someone must have gotten around this problem already.
I've been looking for an EA, Indicator or something that opens the position when price hits the required price, instead of using a market order.
Something where I could manually place lines on the chart, one where I wanted to place an order but couldn't, and other lines where I want the stop loss and TP to go. Then it would open a position as required.
If it could also calculate the lot size dependent on the SL position and risk percentage that would be nice
Any recommendations - for MT4?
There must be something to do that I am sure. And if there is, then why did the broker put this limitation on me in the first place if I can easily get round it?
Cheers
Rich
