Managing your risk of requotes

[nence]

Hi traders
Something puzzles me...Is there an option that allows you to take control of the risk of requoting... I mean like, let's say there is a price difference of 4 pips between the price you saw and the price the market is offering at the precise moment, is there a way for the trade not to be executed without your permission...
I am sorry if my question is not clear... I had troubles translating my thoughts into words and then into a foreign language..

 

[ilearn2t]

Hello nence

On MT4 try:

Tools > Options > Trade > Deviation by default > Default (1).

Helps keep down "Slippage" also.

Not sure about MT5 but found this on internet:

Use Deviation — while an order is being generated, the symbol price can change. As a result, the price of a prepared order will differ from the market one and the position will not be opened. The "Use Deviation" option helps to avoid this. When "Default" parameter is set, to the right of this field one can set maximal acceptable price deviation from the value indicated in the order. If prices are not identical, the program modifies the order and a new position will be opened. If "Last Used" is selected, the deviation value of the previous opened position will be automatically set in the order opening window.

Source metatrader5

Good luck
ilearn2t

 

[Pharaoh]

Do realize that if you set deviation too tight, you'll reduce slippage, but will get more requotes (or just failed executions).

 

[Alonedevils]

Hello nence

On MT4 try:

Tools > Options > Trade > Deviation by default > Default (1).

Helps keep down "Slippage" also.

Not sure about MT5 but found this on internet:



Source metatrader5

Good luck
ilearn2t

Please Explain That Value ..
i mean if we input value in 2 is increase or decrease ?

 

[ilearn2t]

Hello Alonedevils

Please Explain That Value ..
i mean if we input value in 2 is increase or decrease ?

On a 4 digit broker: 0 = any price executed, 1 = 1 pip, 2 = 2 pips etc, not sure if a 5 digit broker is just 1 tick or not, for value of 1 ?

Good luck
ilearn2t

 

[nence]

Hello nence

On MT4 try:

Tools > Options > Trade > Deviation by default > Default (1).

Helps keep down "Slippage" also.

Not sure about MT5 but found this on internet:



Source metatrader5

Good luck
ilearn2t

I am currently trying ONLY MT4 demo platforms so I guess I'm on the right track... Thanks for your help..
And Pharaoh, thanks for the "word of caution"

 

[Alonedevils]

Hello Alonedevils



On a 4 digit broker: 0 = any price executed, 1 = 1 pip, 2 = 2 pips etc, not sure if a 5 digit broker is just 1 tick or not, for value of 1 ?

Good luck
ilearn2t

Hello Liz..
Already Checked , 1 Value is 1 pips or 10 points in 5 digit..

 

[downtrend]

Re-quotes are only a problem when you are trading in a very high volatile market. If you keep your trading method simple and trade on longer time frames, then you rarely face the issue of re-quotes.

 

[EuroTrader]

Re-quotes are only a problem when you are trading in a very high volatile market. If you keep your trading method simple and trade on longer time frames, then you rarely face the issue of re-quotes.

Yes it is true as i have experienced them in so me of the brokers i used to do my trades and this is why it is never a good thing for us

 

[nahiyar]

It seems that broker not want we get profit may be at that time market is over loaded I feel when we had good analysis for open positions re-quotes are there to push back and all our mood is going wrong. There should be quick order placing when and at which point we want to trade.