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Opening trades with ECN Broker

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Mr Squiggle

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5 years ago #114435

When I open trade with an ECN broker will EA Wizard handle this in one statement or will I need to put in one statement for open order then another statement to add stoploss/profit.

 

Thanks

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tomas262

Administrator, sq-ultimate, 684 replies.

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5 years ago #134010

When you specify stop-loss and target in Wizard it should work normally. It’s also broker specific and how they handle orders

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Mr Squiggle

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5 years ago #134012

With an ECN broker the market order has to be set with a S/L and T/P of zero and you then have to modify the order to add them.

 

So I am wondering now if MQL for  MT4 handles this now and sets the S/L and T/P on next tick or if Wizard does this.

 

I’ll do a basic test on a demo account to confirm if I can set the SL/TP as one line.

 

Also when backtesting with an ECN if you do not use every tick (SL/TP is set at next tick) then the SL/TP will be set at beginning of next bar, which in theory could be bigger than your S/L.

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