Placing Forex Trades

[BamaGuy]

I have been on a practice acct for the second day now and am frustrated regarding filling out an order ticket from the mechanical point of view.

I will determine a price that is either above or below the market price by about 5 pips. By the time, I hit the buy or sell button to fill out a ticket, in most cases the price I want has already been passed by the market price and I have to raise or lower my price to get it filled.

Am I too slow at getting the price on the ticket or do I need to raise or lower my price to be ahead of the market? Of course an arrow appears when my order is filled, but should a horizonal line for my stop loss and target also appear across when these are set? The bottom line is how am I supposed to know that the trade is completed because the price hit my target or stop loss without just trying to see it on the chart?
Tom

 

[clem699]

Price Execution Order

Dear Tom,though ur explanation was not that clear but if i am right,i presume u use present market price(instant execution)to fill ur trades.If i am correct then what u have been experiencing do occur especially during volatile periods(news release)U will be told to re-quote ur price.

I think it will do u alot of good if u practice for about a month or two before thinking of real account.By then i believe u would have enough knowledge about price entries and when it is appropriate to use each option.

 

[BamaGuy]

Clem, your reply

Thanks for your reply as that must have been the case, as the market was very volitile. And, don't worry as I am going to be as educated as possible prior to "jumping in"!

Tom