Stop loss placement not working correctly
Stop loss placement not working correctly
23 Nov 2020, 17:51
I have a problem with the wti chart (US Crude)... I cannot place a stop loss.... if I want a stop loss of say, 10 pips, it registers 10000 in the stop loss box and the visual stop loss line in the chart box within Create Order is way off the scale... I attach a screenshot where I try to place a 2pip stop loss, but it appears the red stop loss line of the chart is 2,100 pips above. Any help appreciated.
Replies
PanagiotisCharalampous
24 Nov 2020, 11:09
Hi dmackay41,
FTMO has set 1 pip = $1. Hence what I see on the picture seems correct. Maybe you should contact FTMO regarding this,
Best Regards,
Panagiotis
@PanagiotisCharalampous
dmackay41
24 Nov 2020, 14:47
RE:
PanagiotisCharalampous said:
Hi dmackay41,
FTMO has set 1 pip = $1. Hence what I see on the picture seems correct. Maybe you should contact FTMO regarding this,
Best Regards,
Panagiotis
Thank you.... I did contact FTMO who sent me a screenshot on what a Stop Order is..... which is not much use !
@dmackay41
dmackay41
24 Nov 2020, 14:56
( Updated at: 21 Dec 2023, 09:22 )
RE: RE:
dmackay41 said:
PanagiotisCharalampous said:
Hi dmackay41,
FTMO has set 1 pip = $1. Hence what I see on the picture seems correct. Maybe you should contact FTMO regarding this,
Best Regards,
Panagiotis
Thank you.... I did contact FTMO who sent me a screenshot on what a Stop Order is..... which is not much use !
Here is a screenshot taken just now..... the stop loss is set at 3.3 pips but registers -0.033 in the Pips box...... 100 lots equates to 0.01% of account, which is £20K account, ie amount risked with 100 lots equates to $3.30 ??????
@dmackay41
dmackay41
24 Nov 2020, 15:29
( Updated at: 21 Dec 2023, 09:22 )
I
I am trying to get my head around this....... I have the Stop loss set for 4.3 pips and this equates to 5,073 Lots with an account risk of 0.81% for this trade..... is it the case that Commodities like US Crude here are set this way with FTMO... compare this to a GBPUSD Stop order below with the same stop loss and it is 5 lots with the same account risk... why are both so different?... I mean Oil is a factor of 1000 times that of GBPUSD... as the pip box shows.
I a
@dmackay41
PanagiotisCharalampous
24 Nov 2020, 16:42
Hi dmackay41,
As I said above FTMO has set 1 pip to $1. In your screenshot you do not set 3.3 pips but 0.033 since the price difference is 3.3 cents.
Regarding the comparison between GBPUSD and WTI, I am not sure why you do it since the comparison is irrelevant. Each symbol has a different lot size and pip position.
Best Regards,
Panagiotis
@PanagiotisCharalampous
firemyst
24 Nov 2020, 09:56
If it's a "point a pip", then -2.1 pip SL would place it above the chart because it would be at roughly 45.15, which is 2.1 pips above 43.05.
Different brokers also do different sizes for pips.
Example: IC Markets with forex -- if you put "20" for a stop loss, that's the equivalent of "2" when using Pepperstone for the exact same currency.
@firemyst