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So that you can fully realize your trading strategies, we offer 7 different settings which you can combine as you see fit.
By activating this setting, the size of slippages will begin to be recorded in the Order Comment section. For pending orders, the slippage is calculated as the difference between the order price and the actual price of order execution. In cases of market orders, the difference is calculated as the price difference between the moment the corresponding order was submitted to the server and the actual order execution price.
If an expert advisor which uses Order Comment in its work is involved in the trade, it is better to turn this setting off.
By turning this setting on, limit orders are executed like Good-Til-Cancelled (GTC) orders. This means that the order will be executed at the price which is indicated at the volume which is available on the market at that particular moment. This means that the order could be executed partially or fully.
In cases where partial execution takes place, the remaining order volume shall be fulfilled when sufficient liquidity at the indicated price is available on the market. There is no time limit for the order to be fulfilled fully. The volume which remains to be fulfilled after partial order fulfillment shall be fulfilled as a pending limit order which can be manually cancelled if necessary.
By turning off the limit order setting, orders will be executed like Fill-Or-Kill (FOK) orders: either immediately and in full at the price indicated, or executed following a waiting period until enough liquidity appears on the market to execute the order in full.
This setting applies to take profit, sell limit and buy limit orders.
When the setting is on, a limit order for the sale of 100 lots will be activated at the indicated order price. If there are only 60 lots available, the remaining 40 lots will be placed as a new limit order. If there are only 20 lots available when the new limit order is activated, the remaining 20 lots will be placed as another new order. And thus, the order will not be cancelled until the total volume has been fulfilled.
Turning this setting on means that at the moment of activating a limit order, it will be executed in full as a market order at the current price and this price could differ from the price indicated in the order (in either direction). When using this type of execution, the slippage may not favor the client since the execution price is not guaranteed.
If this setting is off, the limit order will be executed at the order price or at a price better than that stated if the corresponding amount of supply appears on the market.
When a pending order and a stop loss or take profit price (set as part of the order) are activated in the space of one tick, both will be cancelled if this setting is switched on.
As such, this setting helps you avoid financial losses connected with the opening and simultaneous closing of a pending order in cases where a gap or a widening of the spread occurs.
A sell stop order with a take profit level set up on it falls into a price gap where the price of activating the sell stop is below that of the take profit indicated in the sell order. In this case, the buy stop with the take profit set up on it will be cancelled.
If the setting is off, the sell stop order will be opened at the bid price and, following which, the take profit order will be closed at the ask price. The financial outcome of such would be negative and would cost the trader the spread difference at the opening of the order.
If this setting is on, when activating a stop order or when opening a market order, a pending limit order will be sent. The price of the limit order will be corrected according to the size of the permissible slippage in points, indicated by the trader in the settings parameters (from 1 to 1,000):
The potential negative slippage for market or pending stop orders will be limited by the size of the correction, whilst for positive slippage, there will be no limitation. Moreover, the limit order that has been sent could never be executed with negative slippage. This means that if the market price to execute the order is within the permissible slippage value limit, the order will be executed. If the market price is worse than the price with the permissible slippage, the order will not be executed and will be cancelled. As such, the trader can limit and control risks, especially those which are present when trading during important fundamental events.
This setting is activated and a slippage limit of 5 points is set. A pending stop order to make a purchase (buy stop) is activated at the order price indicated, following which a limit order (buy limit) at a price above the 5 point limit is sent. If the execution price is below that of the limit order, the order will be executed. Otherwise, the order will be cancelled.
If the difference between the stop order price and the first quote which activates the order after a gap is equal to or exceeds the limit indicated by the trader in the settings (from 1 to 1,000) and this option is turned on, the order will be cancelled.
When this setting is activated, pending stop orders for sales for sales fall into a gap. If the number of points between the price which is set to activate the buy stop and the first quote given after a gap exceeds the setting indicated to cancel the activation of an order. The order in such a case would be cancelled, thereby helping to avoid financial losses which are related to slippage.
If this setting is turned on, stop orders will be activated and sent for execution according to the following principle:
Used for buy stop, sell stop and stop loss.
Let’s say a sell stop order with a stop loss set up on it falls into a gap with a widened spread, whereby the ask remains above the stop loss and the bid meets the sell stop level. When this setting is turned on, the order isn’t activated and remains pending since the ask price hasn’t met the order level.
In such a situation when this setting is activated, when the bid level of the order meets the price and the order is sent to be executed as a market order. Following which, the order will close at the bid price in the same tick in accordance with the stop loss. The negative financial outcome will be equal to that of the spread difference.
As such, this setting could prevent the activation of stop orders when the spread widens, something pertinent when important economic news is released or during times of low liquidity.
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