Just to make sure i'm not doing something wrong because i'm a bit confused:
1. When i want to open a BUY position, i use the Ask keyword in the OrderSend ?
2. The STOP LEVELS global variable would also be regarding the Ask price? so if it's 4 than the minimum i can set my SL is Ask - 4 * Point ? or is it Buy - 4 * Point?
3. Will the order close when the Buy price reaches the SL or when the Ask price will reach it? Same for the TP ?
Buy will be opening at the Ask, but SL or TP you can place at:
@Tecuciztecatl: Your answer is misleading for "sectioni" as the STOPLEVEL is the minimum Stop Size allowed and not exactly the Stop size that is required.
@Sectioni: Here is a more detailed explanation:
A buy order will be opened at the Ask price, but it will Close at the Bid Price (be that when it hits the S/L, the T/P or it is closed manually).
A sell order will be opened at the Bid price, but it will Close at the
Ask Price (be that when it hits the S/L, the T/P or it is closed
The distance between the Ask and the Bid is obviously the
Spread which can change at any time for variable spread brokers.
The STOPLEVEL is the minimum distance allowed by the broker between the Opening Price and the Stop Price (be that the S/L or T/P). Some brokers don't have this limitation and you can place the s/l and t/p at any distance from the opening price.
The most secure way to set the S/L and T/P is best achieved in a two step process.
Hope that helps!
I wish to make a correction. The STOPLEVEL is the minimum distance from the current Market Price and the Stop Price. My apologies for giving you the incorrect information.
So use the "OrderClosePrice()" to calculate the minimum stop price, and "OrderOpenPrice()" only to calculate the ideal stop price.
Here is a link for a more detailed explanation: https://book.mql4.com/appendix/limits
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