Jump to content
  • 0

Stop Loss/Take Profit minimums


Guest Benj

Question

Hi, brand new to IG and MT4

Trading USD/ZAR, looking to set stop loss and take profit limits through MT4 - system returns an error to the effect that either limit must be <>8000 from current price(s). This sets limits past my normal trading range for this pair, usually I hedge or profit within 1500 or 2000. Alternatively, if I manually enter the opposing trade when I'm comfortable with profits, system returns an error to the effect that hedging is not permitted. So, three questions: 

1. Can stop loss/take profit limits be adjusted? How?

2. What is the minimum range for manual closing entries on this pair? 

3. Are these restrictions somehow in the MT4 platform, or IG policy? 

Link to comment

1 answer to this question

Recommended Posts

  • 0
30 minutes ago, Benj said:

Hi, brand new to IG and MT4

Trading USD/ZAR, looking to set stop loss and take profit limits through MT4 - system returns an error to the effect that either limit must be <>8000 from current price(s). This sets limits past my normal trading range for this pair, usually I hedge or profit within 1500 or 2000. Alternatively, if I manually enter the opposing trade when I'm comfortable with profits, system returns an error to the effect that hedging is not permitted. So, three questions: 

1. Can stop loss/take profit limits be adjusted? How?

2. What is the minimum range for manual closing entries on this pair? 

3. Are these restrictions somehow in the MT4 platform, or IG policy? 

Hi, you can check the hedging setting from settings tab on the mini terminal app (download from IG's app pack), I'm not sure how to do this without going through the mini terminal. pic 1

Check the stop limit by going to Marketwatch in mt4 and right click on usdzar then click 'specification', it's currently 4400 but will change depending on session times. pic 2

IG does seem to have larger limits for orders on mt4 compared to their online platform or placing trade manually at market on mt4.

hope this helps.

 

image.png.5fdbed894e7a876ef0212bc5f243622e.png

image.png.b07ae3f6c14096561eae068ad6c5bc3f.png

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • In the wake of a brewing conflict between the Nigerian government and Binance, cryptocurrency enthusiasts find themselves on edge, uncertain about the future of their digital investments. Rumors abound that Binance, along with other platforms, might be exacerbating the Naira's devaluation against the dollar, prompting the government to take a hard stance against the exchange. Despite longstanding allegations of wrongdoing, recent events have propelled the government to escalate its actions. The situation has escalated dramatically, with Binance's P2P platform disabled and a staggering $10 billion fine imposed for alleged illegal activities. This punitive measure, coupled with last year's $4.3 billion fine by the SEC, underscores the gravity of the situation. However, skepticism lingers regarding the astronomical sum demanded by the Nigerian government. While Binance has faced regulatory challenges in other jurisdictions, its resilience and market dominance have largely endured. Yet, the potential ramifications of losing access to a key crypto market like Nigeria cannot be ignored. Complicating matters further, the Nigerian House of Representatives has summoned Binance CEO Richard Teng, issuing a seven-day ultimatum for him to address allegations of terrorist financing and money laundering, among other charges. This development casts a shadow over the future prospects of Binance in the country. Amidst the uncertainty surrounding Binance's operations in Nigeria, users are scrambling to identify alternative platforms. While other centralized exchanges (CEX) remain operational within the country, the pressing question remains: which platform will emerge as the most dependable alternative should the situation worsen? https://punchng.com/reps-summon-binance-boss-over-alleged-terrorism-financing/
    • 2024 has been a good year for crypto traders with signs of a bullish market prevailing. For the first time in 3 years, we are witnessing BTC set a new ATH repeatedly. If you endured the prolonged bear market of the previous years, you deserve these gigantic green candles! In addition to BTC's incredible run, several alts have broken out nicely; Ai, memecoin, GameFi projects and so on have spiked. Most notably in the month of February is the run of CEX tokens. According to Foresight News, centralized exchange tokens boast of a widespread price spike in February, based on data from ICO Analytics. Standing tall amongst many is BGB with 62% increase, while ASD, BNB, and KCS witnessed gains of 45%, 33%, and 22% respectively. As a BGB holder myself who’s been holding since June 2023 at an average price of $0.45, it’s been an incredible journey. I’ve witnessed it smash its ATH over again, the latest coming in February when BGB set a new ATH of $1.15. Aside the juicy ROI, BGB usecases have been a flex for me, granting me access to exclusive events, like Launchpads where I’ve also managed mouth-watering gains from my participations. BNB had a remarkable run in the last bull cycle, sadly I missed out having sold mine for peanuts. If you said I’m stoked to right my wrong with BGB this time, you wouldn’t be far from the truth!  Which CEX token(s) are you keenly observing?
    • Look at the transaction log to see why, Most of the time it's because your stop loss is set too close. 
×
×
  • Create New...
us