May I ask do you know in any fx trading platforms is it possible to place ‘buy stop order by bid’ and ‘buy stop orders by ask’ price, and same for sell stop orders? Do you get what I mean exactly? I mean do I have a choice how order filled by ask or by bid price for buy stop and sell stop or buy limit or sell limit orders?
Hello, I am an investor on the stock exchange, have you already found a good broker?
Hi Blonde, I don’t know if you are still looking for an answer. I’m currently using Alpari to trade fx and I can place any type of pending orders I want (buy stop, sell stop, buy limit and sell limit) and even include stop-loss and take profit.
This should be a standard feature with any MT4/MT5 platform. Hope it is useful.
Unfortunately no. My funds and investments are between some brokers and I never found a proper one yet. Market these days getting too complicated. Several days without movements and then going to ranging forever without a clear direction for price. But I still investing profitably, but not as the profitable rate that I expect for return of my invested Time
I heard about them. But I don’t know how fare they are. Regarding order types, I think you didn’t get what I asked. Anyway thanks for the reply
The difference between your ask and bid price is your spread. The ask price is always above your bid price (except where you have zero spread where the bid and ask price is the same). When you go long, your entry price is your bid price with the ask price as your breakeven point. When you go short, your entry price is your ask price with the bid price as your break even point.
It does not matter if you make an instant order or pending order, it will always be this way as your entry price and the spread will determine the ask and bid price regardless of the platform you use.
Hope this is useful
Thanks. But the complexity of the matter is such a thing that is not possible to explain by words. Also what you explained is correct. Realizing what I asked is not possible in Alpari like most of the other brokers. Just I heard a couple of brokers was offering that, but I don’t know the names.
Mistyping caused in the sentence as I wanted to say ‘… buy limit …’