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Pro Real Time - setting stop profit and stop losses to actual price


MinF2016

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Hi,

I had an issue today with PRT.... I was short and had a Stop Profit in place (FTX) at 6129.7 and thought I'd be stopped out for a nice profit, instead the rise rose and I manually closed the trade quite a bit higher. Now when I checked the candle the low was 6129.3 ? Calling IG I was informed that both the candle and the stop profit were average prices..... So with a spread of 1 point (0.5 on entry and 0.5 on exit) the candle would have needed to have hit 6129.2 before my Stop was hit :( 

 

Is there anyway I can change the indicator on the Stop Loss / Stop Profit indicators on the left of the screen to actual price please? Or is this something I will need to get my head around and live with.

 

I will add that after speaking to IG they kindly compensated me for my loss of profit. 

Thank you,

Mark

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5 answers to this question

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Hi Mark,

 

My colleague would have been correct when they said that the ProRealTime charts only show the Mid Price. Unfortunately you can't change the price on the charts to Bid/Ask, but you can add an indicator call the 'Bid-ask colour band', which will display the current Bid/Ask prices as horizontal lines. Maybe this will help?

 

ProRealTime.png

 

Would you also be able to clarify what you mean by 'Stop Loss / Stop Profit indicators'?

 

Thanks,

Tim

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Hi Tim,

 

What I mean by stop loss and stop profit is the Stop and Limit (ie... to stop a loss and to stop to take a profit).  for example If I place and order with a stop and limit... I will have the order entry line, the stop line and the limit line all with their respective numbers on the left of my PRT chart.... What I'd like is that number on the limit (or stop) to be the same as the actual candle, so it a candle penetrates that line the stop/limit is activated without taking into consideration the spread.

 

Mark

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Hey Mark,

 

The stops/limits on the PRT charts will always show at the absolute levels, whilst the chart candles themselves will remain at the mid-price. There's not currently a way to change this I'm afraid. Nonetheless, I'll pass your comments onto the PRT team for future consideration!

 

Tim

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Hi and welcome,

 

I had the same thing that happened to me on Bitcoin. Should of hit my Limit, did not: Very high in spread. Ig said it was to do with Mid trades? 

 

If you know whats the difference of Mid' Ask' Bid? at the trade you put on? this would be helpful.

 

All the best.

Trevbeats.

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Hi 

 

The ‘mid’ is half way between the mkt sell and mkt buy and is generally known as the ‘price’ but you can’t buy or sell at this number. The buy and sell price can be displayed on the chart using the indicator ‘Orderbook volume’ or ‘Bid-ask colour band’ (as stated in previous post)

These numbers will change as the bids and offers in the order book change and the spread will widen and narrow throughout the trade and especially at times of very high or very low volume.

To try to change the chart to register the one or the other would disadvantage you even more on the round turn (in then out of a trade).

Best to note the spread size during your entry planning and add that to your risk calculations.

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