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Message "Invalid SL or TP" When Scalping on 1M Chart


Deb2

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Good morning IG community

When scalping on the 1M chart, I am unable to place trades and receive the captioned message.  Is there anyone who can tell me why the message appears and prevents the placing of a trade.  When buying, the SL is below the price level and TP above, and when selling the SL is above the price level and the TP below.  Why am I still unable to place the trade?  

Thank you for sharing your feedback.

 

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7 minutes ago, Deb2 said:

Good morning IG community

When scalping on the 1M chart, I am unable to place trades and receive the captioned message.  Is there anyone who can tell me why the message appears and prevents the placing of a trade.  When buying, the SL is below the price level and TP above, and when selling the SL is above the price level and the TP below.  Why am I still unable to place the trade?  

Thank you for sharing your feedback.

 

Hi, not sure which platform you are using but the message is usually indicating the stop loss is less than the minimum set by IG at that time for that market, try widening it or check on the web based platform where the min distance is displayed.

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7 hours ago, Caseynotes said:

Hi, not sure which platform you are using but the message is usually indicating the stop loss is less than the minimum set by IG at that time for that market, try widening it or check on the web based platform where the min distance is displayed.

Thank you Caseynotes.  I use IG  MT4 as my trading platform.  Can you tell me where I can find the list containing the minimum SL distances when trading in the M1, M5 and M15 charts?  Thank you.

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14 hours ago, Deb2 said:

Good morning IG community

When scalping on the 1M chart, I am unable to place trades and receive the captioned message.  Is there anyone who can tell me why the message appears and prevents the placing of a trade.  When buying, the SL is below the price level and TP above, and when selling the SL is above the price level and the TP below.  Why am I still unable to place the trade?  

Thank you for sharing your feedback.

 

Thank you Caseynotes.  I use IG  MT4 as my trading platform.  Can you tell me where I can find the list containing the minimum SL distances when trading in the M1, M5 and M15 charts?  Thank you.

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10 hours ago, Deb2 said:

Thank you Caseynotes.  I use IG  MT4 as my trading platform.  Can you tell me where I can find the list containing the minimum SL distances when trading in the M1, M5 and M15 charts?  Thank you.

Hi, yes this is where it gets a little tricky, the min stop is variable as is the spread so during times of increased volatility and decreased liquidity both the spread and min stop will widen. This may last just a few seconds or sometimes an hour and will be introduced just before scheduled news events or immediately on breaking news.

So there is not a list of min stops but the min is displayed on the web based platform (live or demo) next to the stop input box on the deal ticket.

Also, the mt4 platform deals with decimal places differently to the web platform. If like Dax there is only one decimal place the point (tick) is shifted left so the spread (1 point) becomes 10, so to enter a 10 point stop in the input box you would put 100. I think on fx where there is 2 decimal places it is as the web platform (1=1).

If mt4 rejects my normal stop I first check why, what's happened that I don't know about. If I still want in I just enter with a very wide stop and then slide it up on the chart to as close as it will allow and usually within a few minutes I can put it where I want.

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8 hours ago, Caseynotes said:

Hi, yes this is where it gets a little tricky, the min stop is variable as is the spread so during times of increased volatility and decreased liquidity both the spread and min stop will widen. This may last just a few seconds or sometimes an hour and will be introduced just before scheduled news events or immediately on breaking news.

So there is not a list of min stops but the min is displayed on the web based platform (live or demo) next to the stop input box on the deal ticket.

Also, the mt4 platform deals with decimal places differently to the web platform. If like Dax there is only one decimal place the point (tick) is shifted left so the spread (1 point) becomes 10, so to enter a 10 point stop in the input box you would put 100. I think on fx where there is 2 decimal places it is as the web platform (1=1).

If mt4 rejects my normal stop I first check why, what's happened that I don't know about. If I still want in I just enter with a very wide stop and then slide it up on the chart to as close as it will allow and usually within a few minutes I can put it where I want.

Thank you, I appreciate your reply.

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