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12:56 pm
December 14, 2009
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jgrennay
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| Member | posts 5 |
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Hello I have kind of a simple question but can't figure it out. I have been trading oil with the Metatrader 4 for a couple weeks now. When I go to enter the trade i am not able to enter any take profit or stop loss numbers. I have to go in and modify the trade after its placed to put that in but when I do that the minimum stop loss has to be at least 25 pips from the market price that was executed and i want the stop loss to only be 15 pips on the 5 min chart. Is there any way to enter those numbers so its in there when the trade is executed? I can do it with all the forex pairs but not oil, why is that?
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6:47 am
December 15, 2009
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Administrator
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Which broker are you trading with? I guess your broker requires a minimum margin of 15 pips for your stop losses, due to the high volatility of oil futures, compared to forex pairs…
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8:16 am
December 15, 2009
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jgrennay
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| Member | posts 5 |
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windsorbrokers.biz and prime4x.com
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8:31 am
December 15, 2009
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Administrator
| | Amsterdam, Netherlands | |
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I've taken a look at Windsor for you. If you take a look at their contract specifications you can see that the minimum price fluctuation for Light Sweet Crude Oil is set at 0.025, while that of forex pairs is 0.001. Hence, your stop loss for oil should be at least 25 pips from the market price when it was executed, while for forex pairs this is only 1 pip…
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2:10 pm
December 15, 2009
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jgrennay
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| Member | posts 5 |
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ah i seen that earlier. Well that doesnt help me out since the system I use has a 15 pip stop for the 5 min chart. Ill just have to bump it up to the 15 min chart and use a 25 pip stop.
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4:35 pm
January 10, 2010
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Steven
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MetaTrader isn't any good anyway. It's a rip off, it's designed to the preferences of the broker.
I remember the huge commotion after MetaTrader announced the test of a plugin that delayed every trade with a couple of seconds. This was obviously designed to benefit the brokers, and people started to ask questions about it at their forum. The topic was removed within a couple of hours, and nobody was allowed to talk about it anymore.
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11:27 am
February 7, 2010
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Administrator
| | Amsterdam, Netherlands | |
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Post edited 11:28 am – February 7, 2010 by Administrator
Just to let you know, our partner Easy-Forex allows oil trading with the MT4 platform as well now. Take a look at the broker page for more information
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