Invalid SL or TP

Discussion in 'Newbie Questions' started by Puppy0, Dec 20, 2016.

  1. Puppy0

    Puppy0 Trader

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    hi,

    Whenever I want to create new either short or long order, I am getting all the time error message "Invalid SL or TP" preventing me to add an order (forex, stocks, cfd). I have asked my broker why this could happen and got the answer that normally minimum distance between current market price (valid for both: entering short and entering long) and SL as well as minimum distance between current market price and TP must be 6 pips for forex and 10 pips for cfd and stocks. Been doing the research for a while what could be the reason and nothing really helped. I checked 5 times to be 100% sure that I am setting up correct type of order. For measuring pips, I used Crosshair (second button left to right in toolbar) and measure the MIDDLE number from the three numbers that occur when you move mouse cursor. Once I even had distance over 100 pips and it didn't help. I have no idea what else to do, missed many great opportunities to enter the trade because of this error. As I said, i have been searching for the reason/cause of this error and note them down in some txt file just in case if i needed the collection of possible reasons/causes of the problem, however asking for the reason might not help me. One of reasons that I found online was (name of the cause for problem) "Ending digit in both SL/TP is not 0 or 5" so obviously I made sure that ending digit in both SL and TP is either 0 or 5 and it didn't work. Furthermore, I made sure that market price is ABOVE my entry price if having type of order Sell Stop or Buy Limit and I made sure that market price is BELOW my entry price if having type of order Buy Stop or Sell Limit. I would appreciate your help but most likely asking for the reason won't help. So as the ultimate purpose of making this message, there will ask a way more directly: Does Metatrader 4 (should work on 5 too) have some kind of custom tool which could show/indicate what is the problem that described error occurs? My version is 4. If it doesn't (i wish it does because it would literally SHOW me what is the problem), I would highly appreciate some assistance towards solving that problem.

    in attachment i am showing RANDOM image of found error with identical problem (the chart at the background is not my).
     

    Attached Files:

  2. Enivid

    Enivid Administrator Staff Member

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    Providing some screenshots of what happens in your case would help. There isn't much additional information available when such error occurs in manual trading.
     
  3. radaway

    radaway Trader

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    it could be that the spread you have is massive for this pair, I used to have these kind of issues with mt4 when the spreads were too high and I would tend to place a limit order. Thus with my exp. I would say : contact the Broker. But as Enivid pointed out above , people will need more info from your side.
     
  4. ParryL1

    ParryL1 Newbie

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    Probably is the spread. If not are you sure the price feed is active. If it is the weekend then that might explain why it doesn't work
     
  5. Usman Khan

    Usman Khan Trader

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    most probably spread
     

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