1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Target Profit not hit using Deltastock's MT4 DEMO platform

Discussion in 'Beginners Bootcamp' started by Moz, Jul 1, 2010.

  1. Moz

    Moz Recruit

    Joined:
    Jun 26, 2010
    Messages:
    5
    Likes Received:
    0
    Hi, guys,

    Hope someone can help me out here, I feel like I'm missing a lot here now...though I knew the workings of the MT4 platform on trading... Okay, here's a transcript of my dealing with the Deltastock help line...this was of course on their demo platform. The gentleman on the other line seems decent, but I still don't understand what he's talking about.

    Hope any of you guys can help explain to me on why my TP was not hit since I never had this 'kind' of a problem and this type of 'explanation' before...?:unhappy:


    The Transcript


    You're now talking to Nikolay from '1. Forex ' The topic is : Target Profit
    was not hit in a Demo Account

    Moz> Hello

    Nikolay> Hello! How can I help you?

    Moz> Hello, Nikolay.

    Moz> I'm one of your Demo account users as I'm looking forward to join you as my forex broker in the near future. I came across a big problem with regards to your Demo MT4-Deltatrader bridge platform. To put simply, one of my trades which I had put a Target Profit didn't register, even though it passes through the TP line numerous times up and down on the TP line. This was on the GBP/JPY pair. This has put great doubts on whether to join you in the near future, as I definitely would not want that to happen in a Live account. My pc was left unattended but still running as usual at the time.

    Moz> I hope there's an explanation on this..

    Nikolay> OK, I need to check the issue in order to explain the situation. So,
    can you please give me your client number for MT4 as well as the username for Delta Trading.

    Moz> for my demo account?

    Nikolay> Yes, please

    Moz> one moment...

    Nikolay> And... You are running both platforms connected via the Delta-Meta
    bridge, you have placed the limit in MT4, but it was not executed, is that
    right?
    Moz> yes, exactly..

    Moz> okay,,,my login number for mt4 is xxxxx

    Moz> For Delta trading is just the username xxxxxx

    Moz> oh, my account nmber for Delta Trading platform is xxxxxx

    Nikolay> Thank you, and can you give me the number of the GBP/JPY order?

    Nikolay> or at least the parameters of the order

    Moz> it was on a 'sell' trade for gbpjpy....217844

    Moz> da TP was 131.600....it was hit numerous times without triggering da

    TP...jz about 30 mins ago...

    Moz> time of sell...11.46....i closed it at 13.19..since it didn't trigger da
    TP

    Nikolay> OK sir, I just checked, this price has never been reached. Most
    probably you have observed the BID price for GBP/JPY, but since you trade was short, you should look at the ASK price for closing the position.

    Moz> how's that? come again?

    Moz> it went down my TP...and up again...and down again...

    Nikolay> Most probably you have observed the BID price for GBP/JPY, but since you trade was short, you should look at the ASK price for closing the
    position.

    Nikolay> OK, do you make difference between BID and ASK price?

    Moz> can you explain? thank you...

    Nikolay> Did you observe it on the chart?

    Moz> you mean when putting the TP?

    Moz> on the charts it passes through up and down my TP line,,,

    Moz> I put in short...with my TP...and the charts went down....through my
    lines, up and down a number of times....then it went back up....

    Nikolay> The charts show the BID price and the BID price indeed has reached
    131.60, but the ASK price never did.

    Moz> hw many charts are there?

    Nikolay> Sir, those are the basics of Forex trading, and you should be absolutely familiar with those terms. I strongly suggest you read the educational section on our web site -
    Learn Forex | Forex Education

    Moz> Okay, I'll have a look...it never happened to me before...this was my
    1st time....I've tried numerous trades in diferent demos before this.

    Moz> Can you explain in your own words what happened there..?

    Moz> I put in a short before the price way before pass thru the TP....and
    when it did..it didn't trigger....it went short and then long...hhm, very
    strange.

    Nikolay> In short, you sell at BID price and you buy at ASK price. What you
    have observed was the BID price, but you need to watch the ASK price for buy orders.

    Nikolay> Once you learn the basics of Forex trading, you will understand
    perfectly what has happened.

    Moz> Hhmm, okay, I'll have a look at this. Thank you for your help.

    Nikolay> You are welcome.

    Moz> Btw, which section is this mentioned?

    Moz> regarding the Target Profit?

    Nikolay> Those are the basics of trading, you should read everything!

    Nikolay> or at least the left column of topics

    Moz> This is a specific problem.

    Moz> I never heard of this before, because for me the charts would not
    distinguish between Bid price and Ask Price?

    Moz> I'll ask my friends, hope there's a reasonable explanation on this.
    Thank you.

    Nikolay> It is not a problem. You just need to understand what you are
    doing...

    Nikolay> However, you are right, MT4 is maybe the only platform in the world
    that has only one type of charts and thus it is bit confusing there.

    Nikolay> You can either check the ASK charts in our platform - Delta Trading, or if you look for ASK prices on the MT4 platform you should add the spread to the values it shows.




    Okay, that's the transcript. Can someone explain to me what he means...and what and where to look for in that MT4? Is there a difference?? I never had this problem before in any of my numerous tradings before & all my TP was hit. I never had to see for BID/ASK 'lines' in a short or long trade?? Why my TP was not hit? Or was i duped??
    :eek:oh:


    [​IMG]

    As the image clearly shows, my TP was hit many times, up and down, without triggering it.

    Thanks to anyone who can help me and others with the same problem.
     
  2. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,634
    Likes Received:
    2,189
    If the spread was wide enough, what they are saying may be true. The easiest way I've found to monitor this in MT4 is to right-click on your chart, select the common tab, and put a checkmark in "Show Ask Line". Drop down to a low timeframe and magnify and it will be very informative.
     
  3. RahmanSL

    RahmanSL Major

    Joined:
    Jan 16, 2010
    Messages:
    2,508
    Likes Received:
    195
    Have you tried removing "TP" and than "manually" close that position?
     
  4. Moz

    Moz Recruit

    Joined:
    Jun 26, 2010
    Messages:
    5
    Likes Received:
    0
    Hello, Pharaoh,

    Thank you for your reply. I've activated my ASK line as you've instructed and it seems that the ASK line is always close by. I'm obviously a newbie here, but doesn't the chart, I mean the chart I posted, shows the price going thru my TP numerous times and hence, the Ask price shld be just along it and should have triggered the TP?


    Hello, Rahman,

    Thanks as well for your reply. After the screen capture, I then manually closed the position since it didn't trigger my TP that I have set out earlier and it was no longer going short.
     

Share This Page