Forget max slippage.
How do i place a sell stop/limit order 20 pips above the market price, and/or a buy stop/limit 20 pips below market price? Each time i try to place such an order i get a warning that the order will be considered a market order and executed now.
thnx Ron
Platform Support wrote:
Platform GUI is doing exactly the same in case you place a sell stop with max slippage. It resubmits the order as limit order at the price of stop limit (stop price minus max slippage in this case).
e.g. Sell stop at 1.3050 and max slippage of 10 points when the market is at 1.3100 level would actually mean the stop limit level for this order is 1.3040. If you change the order price to 1.3150, assuming the market is still at 1.3100, the stop order will not be rejected, but will be resumbited as sell limit order at 1.3140. The same logic will be applied if the market "goes through" the level of your stop and stop limit order, i.e. from 1.3100 level to 1.3000 level e.g. Your order will be resubmited as sell limit at 1.3040 then.
This is how it works in our system. Instead of rejecting the stop order when it is triggered, but not filled within the max slippage price range, we resubmit it as limit order at price, which used to be the stop limit price.