Knowledgebase
Why my pending order, TP or SL were not triggered?
Posted by Lydia .A on 17 April 2020 12:20 PM
You can set four different pending orders which are:
  • Buy stop: It is a Buy order and you can set a buy stop pending order if you set the price above the current market price at lease as much as spread.
  • Buy limit: It is a Buy order and you can set a buy limit pending order if you set the price below the current market price at lease as much as spread.
  • Sell stop: It is a Sell order and you can set a sell stop pending order if you set the price below the current market price at lease as much as spread.
  • Sell limit: It is a Sell order and you can set a sell limit pending order if you set the price above the current market price at lease as much as spread.
The photo below illustrates different types of pending orders:
 
 
 
To set a pending order, first you must set the price and after that, if you need to set SL or TP, their prices must have a difference with current market price at lease as much as spread.
  • Stop Loss
    This order is used for minimizing of losses if the security price has started to move in an unprofitable direction. If the security price reaches this level, the position will be closed automatically. Such orders are always connected to an open position or a pending order.  Terminal checks buy positions with BID price for meeting of this order provisions (the order is always set below the current BID price), and it does with ASK price for sell positions (the order is always set above the current ASK price).
  • Take Profit
    Take Profit order is intended for gaining the profit when the security price has reached a certain level. Execution of this order results in closing of the position. It is always connected to an open position or a pending order. The order can be requested only together with a market or a pending order. Terminal checks buy positions with BID price for meeting of this order provisions (the order is always set above the current BID price), and it does with ASK price for sell positions (the order is always set below the current ASK price).
Again the photo below illustrates the how to set a TP or SL:
 
 
 
 
 Please note that the pending orders, TP and SL are not triggered at the set price, you need to consider the spread of the pair as well.
 
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