Need to change how take profit parameters are entered.

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markryan2010 since: 07 Nov 2020;

  07 Nov 2020, 00:59
Need to change how take profit parameters are entered.

Small issue found (not sure if already mentioned) with how the take profit parameters are entered into Ctrader when placing basic sell/buy stop order. If TP is based on pips, then slippage taken when order is filled impacts on TP position. E.g. Sell Stop order may suffer slippage of 2 or 3 pips but if TP is set at 18 pips for example, trade will not be closed out if price hits the price automatically entered by Ctrader when entering number if pips for TP as pips entered as TP pips will not be hit but price will be i.e. TP pips ovverrides TP price. You should be able to select either pips or price for TP as you cannot do so. Just had a losing trade on GBPUSD because of slippage on sell stop order but price hit TP price but did not reach TP pips. 

PanagiotisCharalampous's avatar

PanagiotisCharalampous since: 13 Jan 2017;

  09 Nov 2020, 08:37

Hi markryan2010,

Thanks for posting your issue but I did not understand what is the problem. Take profit is always set at a certain price level and it is executed as a limit order. If you can provide more information to reproduce what you are describing, we can investigate further.

Best Regards,

Panagiotis 

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Head of Community Management at cTrader

markryan2010 since: 07 Nov 2020;

  30 Nov 2020, 10:31
RE:

Hi,

My apologies for not replying sooner and leaving such a message. At the time of writing, I was still a bit annoyed and was being pushed for time however, I have had a chance to contact my broker for an explanation to which it was not their fault.

The following is to expand a little clearer on what occurred.

I had placed a short trade on the GBPUSD on the 06/11/20. The entry price entered into cTrader was 1.31110. My SL was 1.31575. My TP was placed 18 pips from the entry or 1.30930. The entry was price was hit but due to slippage, the actual entry price was 1.31096.

The slippage on entry impacted on the TP of 18 pips from the original entry price and resulted in the TP being moved to 18 pips from the new entry price moving the TP to 1.30916 (i.e. the 1.4 pip slippage moved the TP (18 pips) from what should have been 1.30930 to 1.30916). At approximately 01:42AM on the 07/11/20, price hit a low of 1.30924 which should have triggered the original TP of 1.30930 but it did not because the slippage moved the TP approximately 18 pips from the new entry price. Looking at the “Modify Order” pop up panel, I tried adjusting the price without adjusting the pips and vice versa but I could not and this is possibly where the issue is. You cannot enter just a price without the pips or the opposite. If, upon entering the trade parameters, one can deselect pips and enter price only, any slippage incurred upon entry will not affect the take profit point as it did with my trade.

Regards,

Mark. R

PanagiotisCharalampous said:

Hi markryan2010,

Thanks for posting your issue but I did not understand what is the problem. Take profit is always set at a certain price level and it is executed as a limit order. If you can provide more information to reproduce what you are describing, we can investigate further.

Best Regards,

Panagiotis 

Join us on Telegram

PanagiotisCharalampous's avatar

PanagiotisCharalampous since: 13 Jan 2017;

  30 Nov 2020, 11:53

Hi markryan2010,

Thanks, it is clearer now. For now, you can consider programming a cBot that allows you to modify a SL/TP and set the actual price you want to use.

Best Regards,

Panagiotis 

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Head of Community Management at cTrader