MarketRangeOrder Errors

firemyst
10 Oct 2024, 05:37

Since you're trading the US30 - what is a pip with the broker you're using?

Is it a point, or 0.1 points?

Pips don't always equal points with indices. 

For instance, with Pepperstone, 1 pip equals 1 point on the US30; whereas on other brokers like Fusion Markets 1 point on US30 is 10 pips.

PanagiotisCharalampous
10 Oct 2024, 07:04

When the price of US30 is 40,000, I buy US30 using ExecuteMarketRangeOrderAsync(TradeType.Buy, US30, lot, 10, Symbol.Ask + 100, MyLabel, stopLoss, stopLoss * 10, comment); my base price should be 40,100, and the range pips are 10 points. In theory, the transaction should only be executed when the ask price reaches 40,099 or 40,101, but in practice, it is executed immediately. Why is this RANGE restriction ineffective?

Hi there,

No, this is not how it works. Market orders are executed immediately. This is way they are called market orders. If you need a pending order use a Stop Limit order.

Best regards,

Panagiotis

910247359
10 Oct 2024, 18:53

RE: MarketRangeOrder Errors

PanagiotisCharalampous said: 

When the price of US30 is 40,000, I buy US30 using ExecuteMarketRangeOrderAsync(TradeType.Buy, US30, lot, 10, Symbol.Ask + 100, MyLabel, stopLoss, stopLoss * 10, comment); my base price should be 40,100, and the range pips are 10 points. In theory, the transaction should only be executed when the ask price reaches 40,099 or 40,101, but in practice, it is executed immediately. Why is this RANGE restriction ineffective?

Hi there,

No, this is not how it works. Market orders are executed immediately. This is way they are called market orders. If you need a pending order use a Stop Limit order.

Best regards,

Panagiotis

thank you for replying!

The issue I'm encountering is: when placing an market order, marketrangepips can limit negative slippage , but it doesn't limit positive slippage. For example, when I'm buying, the price at the time of order placement is 40,000, and the marketrangepips is set to 10. However, if the price suddenly drops to 4, which is very favorable to me, so it filled at 4, I don't want the order to be executed. It should only be executed within the range allowed by marketrangepips. Does the marketrangepips parameter only limit negative slippage, or does it limit both positive and negative slippage? What I want is that the positive slippage can also be limited though the price is favorable to me, this function can prevent potential reversal after sending an maket order at exceptionally active market conditions

PanagiotisCharalampous
11 Oct 2024, 05:14

RE: RE: MarketRangeOrder Errors

910247359 said: 

PanagiotisCharalampous said: 

When the price of US30 is 40,000, I buy US30 using ExecuteMarketRangeOrderAsync(TradeType.Buy, US30, lot, 10, Symbol.Ask + 100, MyLabel, stopLoss, stopLoss * 10, comment); my base price should be 40,100, and the range pips are 10 points. In theory, the transaction should only be executed when the ask price reaches 40,099 or 40,101, but in practice, it is executed immediately. Why is this RANGE restriction ineffective?

Hi there,

No, this is not how it works. Market orders are executed immediately. This is way they are called market orders. If you need a pending order use a Stop Limit order.

Best regards,

Panagiotis

thank you for replying!

The issue I'm encountering is: when placing an market order, marketrangepips can limit negative slippage , but it doesn't limit positive slippage. For example, when I'm buying, the price at the time of order placement is 40,000, and the marketrangepips is set to 10. However, if the price suddenly drops to 4, which is very favorable to me, so it filled at 4, I don't want the order to be executed. It should only be executed within the range allowed by marketrangepips. Does the marketrangepips parameter only limit negative slippage, or does it limit both positive and negative slippage? What I want is that the positive slippage can also be limited though the price is favorable to me, this function can prevent potential reversal after sending an maket order at exceptionally active market conditions

Market range only limits negative slippage.

910247359
11 Oct 2024, 11:53

RE: RE: RE: MarketRangeOrder Errors

PanagiotisCharalampous said: 

910247359 said: 

PanagiotisCharalampous said: 

When the price of US30 is 40,000, I buy US30 using ExecuteMarketRangeOrderAsync(TradeType.Buy, US30, lot, 10, Symbol.Ask + 100, MyLabel, stopLoss, stopLoss * 10, comment); my base price should be 40,100, and the range pips are 10 points. In theory, the transaction should only be executed when the ask price reaches 40,099 or 40,101, but in practice, it is executed immediately. Why is this RANGE restriction ineffective?

Hi there,

No, this is not how it works. Market orders are executed immediately. This is way they are called market orders. If you need a pending order use a Stop Limit order.

Best regards,

Panagiotis

thank you for replying!

The issue I'm encountering is: when placing an market order, marketrangepips can limit negative slippage , but it doesn't limit positive slippage. For example, when I'm buying, the price at the time of order placement is 40,000, and the marketrangepips is set to 10. However, if the price suddenly drops to 4, which is very favorable to me, so it filled at 4, I don't want the order to be executed. It should only be executed within the range allowed by marketrangepips. Does the marketrangepips parameter only limit negative slippage, or does it limit both positive and negative slippage? What I want is that the positive slippage can also be limited though the price is favorable to me, this function can prevent potential reversal after sending an maket order at exceptionally active market conditions

Market range only limits negative slippage.

Is it possible to implement a function to limit positive slippage?thank you.

PanagiotisCharalampous
13 Oct 2024, 05:51

RE: RE: RE: RE: MarketRangeOrder Errors

910247359 said: 

PanagiotisCharalampous said: 

910247359 said: 

PanagiotisCharalampous said: 

When the price of US30 is 40,000, I buy US30 using ExecuteMarketRangeOrderAsync(TradeType.Buy, US30, lot, 10, Symbol.Ask + 100, MyLabel, stopLoss, stopLoss * 10, comment); my base price should be 40,100, and the range pips are 10 points. In theory, the transaction should only be executed when the ask price reaches 40,099 or 40,101, but in practice, it is executed immediately. Why is this RANGE restriction ineffective?

Hi there,

No, this is not how it works. Market orders are executed immediately. This is way they are called market orders. If you need a pending order use a Stop Limit order.

Best regards,

Panagiotis

thank you for replying!

The issue I'm encountering is: when placing an market order, marketrangepips can limit negative slippage , but it doesn't limit positive slippage. For example, when I'm buying, the price at the time of order placement is 40,000, and the marketrangepips is set to 10. However, if the price suddenly drops to 4, which is very favorable to me, so it filled at 4, I don't want the order to be executed. It should only be executed within the range allowed by marketrangepips. Does the marketrangepips parameter only limit negative slippage, or does it limit both positive and negative slippage? What I want is that the positive slippage can also be limited though the price is favorable to me, this function can prevent potential reversal after sending an maket order at exceptionally active market conditions

Market range only limits negative slippage.

Is it possible to implement a function to limit positive slippage?thank you.

Hi there,

You can suggest it in Suggestions. Nevertheless I don't think it would be a popular suggestion as I personally do not see the reason of limiting positive slippage. I can't think why you would not want a better price for your order. It's like rejecting a discount for a product and insisting to pay the actual price.

Best regards,

Panagiotis

910247359
13 Oct 2024, 08:32 ( Updated at: 14 Oct 2024, 05:07 )

RE: RE: RE: RE: RE: MarketRangeOrder Errors

PanagiotisCharalampous said: 

910247359 said: 

PanagiotisCharalampous said: 

910247359 said: 

PanagiotisCharalampous said: 

When the price of US30 is 40,000, I buy US30 using ExecuteMarketRangeOrderAsync(TradeType.Buy, US30, lot, 10, Symbol.Ask + 100, MyLabel, stopLoss, stopLoss * 10, comment); my base price should be 40,100, and the range pips are 10 points. In theory, the transaction should only be executed when the ask price reaches 40,099 or 40,101, but in practice, it is executed immediately. Why is this RANGE restriction ineffective?

Hi there,

No, this is not how it works. Market orders are executed immediately. This is way they are called market orders. If you need a pending order use a Stop Limit order.

Best regards,

Panagiotis

thank you for replying!

The issue I'm encountering is: when placing an market order, marketrangepips can limit negative slippage , but it doesn't limit positive slippage. For example, when I'm buying, the price at the time of order placement is 40,000, and the marketrangepips is set to 10. However, if the price suddenly drops to 4, which is very favorable to me, so it filled at 4, I don't want the order to be executed. It should only be executed within the range allowed by marketrangepips. Does the marketrangepips parameter only limit negative slippage, or does it limit both positive and negative slippage? What I want is that the positive slippage can also be limited though the price is favorable to me, this function can prevent potential reversal after sending an maket order at exceptionally active market conditions

Market range only limits negative slippage.

Is it possible to implement a function to limit positive slippage?thank you.

Hi there,

You can suggest it in Suggestions. Nevertheless I don't think it would be a popular suggestion as I personally do not see the reason of limiting positive slippage. I can't think why you would not want a better price for your order. It's like rejecting a discount for a product and insisting to pay the actual price.

Best regards,

Panagiotis

thank you for replying!

Take US30 for example, my stoploss  is usually set to 1.7 point(very tiny), so any price reversal more than 1.7 means it's beyond my stoploss, it's not the price I want. the trend is reversed. so I have to close the position, so in order to avoid this case, the order should only be executed within some positive range(range<=1.7)，or worse range(limited by slippage), better never allow it to fill if beyond the positive range.