MQL4 - automated forex trading   /  

Forum

Login | Register | Language: ru cn en
How to Use MQL5 Constructions? Check the Documentation!

Avoid MT4 Broker Stop hunting with market orders only

Back to topics list To post a new topic, please log in or register
avatar
74
icm63 2007.09.03 06:28
 
When an order is placed with a stop order and a take profit order we are placing a stop loss order as an order type of 'ON STOP', and the take profit order is a 'LIMIT' order.

As LIMIT and STOP orders can been seen by the broker, the broker can push price up to take out your orders for there own quick gain. This is called stop hunting. I do not wish to discuss stop hunting here on the thread. Its been fully discussed here : STOP HUNTING: Hardcore Proof that your broker may be cheating on you

A way to beat the brokers is to place market orders only. So price is monitored within the EA and a market order is sent once desired price is hit. So market orders are used to enter market and exit market, and the EA monitors prices levels, not the MT4 open orders table.

QUESTION: Has any one or are there any examples of MT4 code doing this anywhere ?? Please advise....
 
Back to topics list  

To add comments, please log in or register