Phantom orders overnight (Demo Account)
Created at 11 Jul 2017, 02:24
WI
Phantom orders overnight (Demo Account)
11 Jul 2017, 02:24
Hi,
Yesterday afternoon I placed about 6 orders across 6 different pairs. However, this morning, I woke to see that several dozens of similar orders were placed earlier this morning (as i slept). This has resulted in about $30,000.00 loss, of my demo account, which has me terrified it could happen to my, eventually, real account.
Is there anyting I can do to check how these orders were placed, or are there some automatic order placement settings i can check out?
Thanks in advance everyone....
Spotware
12 Jul 2017, 17:43
Resolved
Hello williamtokyo88,
Thank you for posting this in our forum. We have already resolved this question with you via email, for the benefit of the rest of the users in the forum we will explain the situation.
cTrader uses a Smart Stop Out algorithm for closing positions when Margin Level falls below the Smart Stop Out level which is set by the broker. This is why you saw multiple closing orders in your trade history, but in fact they all belong to the same 6 positions, but they were partially closed in the smallest possible increment in order to restore margin level just above Smart Stop Out level. This is beneficial because it prevents the whole position from being closed.
To read more about Smart Stop Out, please use the following link http://help.spotware.com/trading/smart-stop-out
Regards,
cTrader Team
@Spotware