Min Distance of Order from Price?
6 replies
mikeyc
9 years ago #113610
Hi,
Is this the same as Stop level in MT4?
For example if a broker says Stop Level is 20 (which I believe is 2 pips confusingly), do I enter 2 or 20 into SQ?
It’s very confusing as MT4 will show a spread of 19 meaning 1.9 pips, again I would enter 1.9 into SQ for the spread and 2 as the min stop distance?
Thanks,
Mike
geektrader
9 years ago #129895
I´ve tested this Mike and it´s in pips, regardless if you have a 5 or 4 digits broker. The way it works is this: it´s the min distance SQ uses to place orders from the current price in the strategies it creates. But, your MT4 brokers stop level is still the one that decides the distance in the actual EA. So if you generate strategies with a min distance of 5 pips in SQ and then trade them on a broker with 0 pips stop distance, the strategy will trade different. Same if you generate them with 0 pips min distance and then trade with a broker that has a 5 pips stop level.
You basically MUST set this to the stoplevel distance of your broker, otherwise you´ll get a lot of differences. I agree that this is not well documented but really is very important to know. So personally I leave it at 0 all the time and simply trade on a broker with 0 stoplevel, which are the serious ones anyway. No good ECN broker has a stoplevel bigger than 0 nowadays.
mikeyc
9 years ago #129898
Hi geektrader,
Thanks for clarifying this. Generally I use ECN accounts which have zero min stop distance, but in the UK I also use Spreadbetting brokers, which offer tax free gains, but they are all market makers with min stop in MT4 of 20 (2.0 pips).
Cheers,
Mike
geektrader
9 years ago #129912
Hi Mike,
ah OK. Well, personally I would not use any of those, tax-free gains yes, but market maker tricks and you´ll lose it all usually;) Also I think they will soon tax the spread-bets as well if I am not wrong, so no real advantage there. But I understand where you are coming from.
clonex / Ivan Hudec
8 years ago #131163
Ok Gentlemans thanks for explanation. So for example. If IRONFX has minimum distance of place stop order 7 pips then i have to set this value in SQ
murty
7 years ago #141707
How is it bad to trade strategy built in SQ (with Min Distance of 5) on MT4 with broker requiring Min Distance of 0 ?
Karish
7 years ago #141712
How is it bad to trade strategy built in SQ (with Min Distance of 5) on MT4 with broker requiring Min Distance of 0 ?
Some brokers in particularly NON-ECN brokers require the users to have their SL/TP targets few pips away from the actual price,
thats another sign for a NON-ECN broker..,
i use ECN brokers only so i develop my strategies with 0 Min Distance AKA StopLevel so i do not know the outcome of trading different Min Distance created strategies on a different Min Distance broker..,
you should first check all of those settings of your broker and only then develop to the same settings to be sure it will fit your trading environment..
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