I'm scalping ES during US market hours. I'm using MT5 and AMP futures. Set to 2 ticks take profit, 3 ticks stoploss. When it's reaching my "take profit" price of 2 ticks, it is actually executing at 1 tick or zero ticks. When it's reaches the stoploss it executing and taking 3 ticks. For example: Enter long at 2381.50 Take profit set at 2382.00 Stoploss set at 2380.75 Take profit is triggered at 2382.00 MT5 registers 2382.25 I only make 1 tick Using the demo everything was executing as planned, I'm not sure whats happening. Is this normal? Am I missing something obvious? Should I be using other software? Should I be using a different broker? Any help would be very much appreciated.
OK, I'll respond but I have a feeling you are trolling. I could be wrong. Are you using a Limit Order or a Market If Touched Order? MT5 is probably using Last Price as a data point and your profit taking Sell is hitting the Bid which is no doubt 1 Tick below last price in this scenario. The reason MT5 is showing 2382.25 on a 2382 Profit target is because you need the market to trade through your price to get a fill. You are getting slipped 1 tick on a stop loss market order which is expected.
Thanks for your reply. I don't know enough to understand how my post could be construed as trolling. Is MT5 looked down on? My understanding is all pre set orders on MT5 are limit orders. Shouldn't a limit order only sell at the limit price or better?
LOL, the OP liked my post but never responded. My guess is he liked the part where I thought he might be a troll. There is a new type of troll on ET called "the time waster troll". The fact that the OP calls himself "a poor troubled noob" tells me that he is a time waster troll. I have a challenge for all you time waster trolls out there, start some threads asking things like "what is the best energy drink for trading?", "what type of chair is best for daytrading?", "should I get a fast computer for trading?", "is lifting weights good for daytrading?" and "how many monitors do I need to daytrade?". Make the questions funny and see how many responses you get.
LOL, that is not my routine buddy. I was trying to come up with off the wall things that have nothing to do with trading but yet still could get responses from people without appearing to be a troll.
the logic your using.. works in demo: selling at the 'ask' buying at the 'bid' you should change your exit orders to 'limit' orders. Market orders will sell at the bid and buy at the ask.. or at prevailing spread prices.