Can someone explain the following info that I clipped from "Technical Dream" web page. This trade has been "closed". My question is, was it closed by market order or conditional order? The reason I ask is because I am assuming it was closed by market order as his 1 pip profit was within the 10 pip buffer that we are not able to set a SL relative to our order entry price. BUT, if you look at the pre-set orders(Ie. -1 pip SL and 166 TP), that -1 pip SL is already within the 10 pip buffer zone. In fact there are many more of these scenarios on his trade logs. How is this possible? Can someone please explain...because my system does not allow me to move my SL within the 10 pip buffer zone. Thanks.


technical_dream created an order: Technical's and Trends
17 May
P/L: +1 pips
Earlier position got closed due to inability to change TP, wasnt at the screen.
SELL 5.000M AUD/JPY @ 78.694, SL 78.680 (-1 pips),TP 77.030 (166 pips)

he might have moved the stop loss when his position is 10 plus pips in profit..thats all
you can move the stop loss to -1 or -100 if your position is in profit to allow that stop loss.
the close orders are legitimate conditional orders by technical dream

i dont know why you assumed the close order as market order
its -1 so the profit is clearly +1..
unlike the other trader i was mentioning
where the stop loss is something like -35 but closed @+24

What tulasi said is true. I don't really play like that but it still sounds legit to me.

As per "trading Rule" #10; TP, SL levels cannot initially be set closer than 10 pips either to market price, or to entry price.

Even when you have your trade open and active, you are not able to move your SL within 10 pips of your order entry price; whether above or below that entry price. Try it, you can not do it.

What you are saying does not make sense.

You are not able to move your SL to a price level 10 pips either side of your entry price. Automatically the system does not allow it. That is why you will never see a conditional order placed that allows you to become "breakeven".

Hi

Thank you for picking this trade.

Let me explain to you exactly how this trade takes place:

I enter a market order:

Entry @ Market: 78.694,
Stop-Loss: 79.20
Price moves below a Supply zone on chart. Didn't expect it to go back to 78.69. Change SL: 78.68

Price retraces: SL hit
Trade closed.

The Rule:

"TP, SL levels cannot initially be set closer than 10 pips either to market price, or to entry price."

I hope this is enough of an explanation, if not, please feel free to PM me and I can discuss it further.

Regards

Try moving it to BE when the position is @ 11 pip profit or 15 or 20 i.e. market price is 10 pips away from SL.

Exactly. My problem is not with the fact that you moved your SL and it was triggered. My issue is that you SOMEHOW have created a conditional SL order 10 pips from your order entry price of 78.694. This is not possible. An error message should pop-up stating that you can not place the trade because it is 10 pips from the order entry price. If this is not happening for you, as you described here that it is not, then you are playing with a system that is unfairly benefiting you in your trades. This should be a concern for traders vying for a top spot where they can receive cash, for their fair trading success.

You can be 100 or 200 (or whatever profit value) pips in profit, but you still can not move your SL to a position level 10 pips either side of your order entry level. Period.

Without trying to sound condescending I will try to explain the RULE 10 to you:

The Rule:

"TP, SL levels cannot initially be set closer than 10 pips either to market price, or to entry price."

Take Profit: Initially(key word), means when a position is opened, cannot be set @ +/- Entry price.

AT ORDER ENTRY:
Assuming ENTRY PRICE = 1
TAKE PROFIT Cannot be = 0.90 or 1.10
TAKE PROFIT CAN be = 0.89 or 1.11
STOP-LOSS CANNOT be = 0.90 or 1.10
STOP-LOSS CAN be = 0.89 or 1.11

When MARKET PRICE has MOVED 20 Pips:

TAKE PROFIT CANNOT BE = MARKET PRICE - 10 or MARKET PRICE + 10
TAKE PROFIT CAN BE = MARKET PRICE - 11 or MARKET PRICE + 11
STOP-LOSS CANNOT BE = MARKET PRICE + 10 or MARKET PRICE - 10
STOP-LOSS CAN BE = MARKET PRICE + 11 or MARKET PRICE - 11

What the above means is, if current MARKET PRICE is above or below your ENTRY PRICE by MORE THAN 10 pips you CAN move Stop-Loss to BE + X pips, as long as X is not +- 10 pips of CURRENT MARKET PRICE. Same for TAKE PROFIT.

If you need a better explanation I give up.

Oh...and another rule is TAKE PROFIT and Stop-Loss CAN ONLY be MOVED in the DIRECTION of the TRADE.

This means:

Incase of SHORT:

STOP-LOSS can only be REDUCED NOT INCREASED.
TAKE PROFIT can only be INCREASED NOT DECREASED.


Regards

Please define trading success.

Since you don't understand the rule(s), please refrain from using words like "unfairly benefiting".

I was glad you asked a question about my trading and a rule, I have given an explanation.

I hope you would acknowledge your error once you understand.

You can try to explain the rule to me until the cows come home! I have experienced it first hand, where the system prevents me from moving my SL 10 pips or less, either side of the trade entry level...even when I have large profits.

Three possible sceneries:
1) You are trading on a platform/system unlike the rest of us.
2) I have a platform/system that is trading unlike the rest of the traders.
3) Rules have changed since last month.

LMAO. Thats the best explanation I can give, the rule, in English, is pretty clear.

No point in explaining anymore.

Regards

hi bigsteerly
the first and last scenario are not happening.. because you see some examples of trades of april contest winners... where the stoploss is in -xx
passionforex created an order: Personal View
29 Apr
P/L: +18 pips
down
@MKT Close: tp
SELL 5.000M AUD/USD @ 1.04588, SL 1.04480 (-12 pips),TP 1.04350 (25 pips)

blackjack created an order: Technical's and Trends
23 Apr
P/L: -1 pips
H4DOWN
BUY 0.110M EUR/USD @ 1.31520, SL 1.33521 (-198 pips),TP 1.30321 (-123 pips)

go and look back on previous months winners profiles... you will know that it is neither any change that came this month nor tech dream is having a quite different platform...


so consult duka team why you couldnt able to move your sl on your platform,when your position is in good profit


one more thing ,check even the top player as of now ,robus
robus created an order: Technical's and Trends
21 May
P/L: +61 pips
buy
BUY 1.000M USD/NOK @ 5.93705, SL 5.94350 (-65 pips),TP 6.49000 (5530 pips)

so my advice is , please check yourself, do some research before offending(repeatedly) some one who is an excellent trader...

Tulasi, before you comment you may want to first understand the situation before making yourself look bad. Never did I say that I could not move my stop loss.

If you would read and comprehend my posts you would clearly figure out that what I am saying is that the SL can not be moved within the 10 pip zone of either side of the entry price. Where, in any one of the examples that you provided does it show that those traders placed a conditional order 10 pips above or below the entry order price? Please show me to clarify.

Once again, the example you just gave about PassionForex, BlackJack, or Robus have no meaning to this thread so please do not flood a thread with nonsense.

This is now the second time that you have made comments in this thread that have no relevance to the issue.

As my mother always told me, and maybe yours should have also "only speak when you know what you are talking about".

Tulasi

Thanks for the support.

Forget about this thread, just a person trying to get some attention.

He/she is not looking for an explanation(I have provided it twice, with examples a 14 year old would understand) but wants to say I am cheating without actually saying it. Doesn't understand basic english(the rule is very very clear).

Sometimes people get an idea in their head and can't understand the reasons why they are wrong.

Regards

I agree, I have no intention to further this discussion. I was simply pointing out a situation that has occurred to me and assumed that it was the same for all traders, but obviously rules are not the same for all traders.

Regarding "attention"; not a chance. I have better things to worry about or enjoy in life then to spend my time replying to people on forums.

dude ,
by giving those examples i mean to say that..sl can be moved across the entry price..(simple logic when you are going for -15 why not -10 or -9)

so you want an exact example ..here you go..a trade from StevenSeagal..who is at 8 th position now...

StevenSeagal created an order: Fundamentals and News
6 May
P/L: +3 pips
risk aversion kickin in
SELL 5.000M NZD/JPY @ 63.186, SL 63.150 (-4 pips),TP 61.650 (154 pips)

i think you are satisfied...pls check yourself...
dear bro..its possible ..consult duka why you couldnt able to do that...

So, apparently the rules have changed or my platform/system has changed.

I currently have a trade going on where I am 70+ pips in profit. I thought because I am far enough away from my entry level that I would prove to others that I wasn't just smoking something when I raised this issue, so I decided to set a conditional SL position 2 pips in profit (expecting for the pop-up message which I had received in the past). If I was successful at placing this trade it would go against what I have been saying in this thread. The outcome; I was able to make the trade without the pop-up message. Therefore, Technical_Dream was correct and I apologize for raising this issue against him.

Unfortunately for all of us, we spent unnecessary personal time trying to either get to the bottom of the situation or convince others. This could have been resolved simply by a response by the Dukascopy Team. I initially posted this comment in the complaints section but I did not receive any response (and still have not received a response) and therefore decided to expedite the issue and move it to the forum where others would become involved.

I want to say that I am extremely grateful of what Dukascopy has created here as a Demo Trading Contest as it has truly been positive for me to improve and tweak my trading systems. BUT, I must also say that the Dukascopy support team SUCKS %$#&@!!

Realistically, there are only a few questions brought forth on a daily basis by traders of the contest which could simply be responded to by the Dukascopy Rep's. In fact, Duka has created the thread where they would supposedly respond to our questions but they are not fulfilling this. For example, my question could have simply been responded to by the Dukascopy support team with the following answer which would have taken a mere 2 minutes at most; "Bigsteely101, please be informed that we have removed this rule since the month of XXX, sorry for the inconvenience".

Dukascopy, if your goal with this contest is to generate new clients (which I believe it is, since simply giving away money is not a wise business model), you need to put more energy and emphasis in treating the people who trade here as existing or potential clients. I am an existing live client, but if I was new to Dukascopy and experienced this sort of lack of attention, I would assume that it would be similar as a live trader. Please take these comments seriously, as I continuously see this same complaint by traders about the Dukascopy support team on a number of occasions. All your hard earned money that you are putting into the contest and publicity may actually be getting diluted by lost customers due to poor support.

so, you took a topic and put that as an issue without even testing in your platform....very bad
this is what i was saying..pls check with yourself..before raising an issue
no need of support team..if you would have checked it once..

still , i appreciate your response and agree with you that duka support is poor..