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how to setup pip size, market slippage, min distance of order from price for index

2 replies

ybhx0315

Customer, bbp_participant, community, 28 replies.

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5 years ago #114917

Hi all,

 

I have a big problem with setting up pip size, pip steps, market slippage, min distance of order from price for stock indices.

As I read through the MQ4 code generated by SQ. It recognize 3 levels of pip sizes, 0, 2, 4.

 

 
   double realDigits;
   if(Digits < 2) {
      realDigits = 0;
   } else if (Digits < 4) {
      realDigits = 2;
   } else {
      realDigits = 4;
   }
 
So for most of the stock indices, such as DJ30, the digits are 2 for my broker, so in SQ, I set both “pip/tick size” and “pick/tick step” = 0.01
 
The usual spread for DJ30 is around 3.00 USD, so I have to setup “Default Spread” as 300, which is large but still fine. Hourly average volitility is around 50.00 USD, so I setup in “strategy options” SL/PT range from 5,000 to 80,000 pips, still large but fine.
 
 
*************BUT******************
However, when it comes to “min distance of order from price”, my broker’s stop level is 500. But the largest value allowed by SQ is just 100. In addition to that, the market slippage is SQ is limited by 20, corresponding to $0.2 only. And the real minimum step of DJ30 is $0.5.
 
How can I setup SQ to reconcile all these?
 
 

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mikeyc

Customer, bbp_participant, community, 878 replies.

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5 years ago #136014

Simplest solution is to change broker.  IC Markets ECN shows US30 index has 0 stop levels, so min stop distance is zero.

 

Why accept such a large min stop distance from a broker? 

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Karish

Customer, bbp_participant, community, 445 replies.

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5 years ago #136015

You have a bad broker mate, like mikeyc here said,

stop level should be always 0, unless you want trading against your market maker broker,

STP/ECN broker will always offer 0 on the stop level.

 

some of the best brokers in the industry here:

http://www.abundancetradinggroup.com/

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