Take Profit Not Triggered

This is a discussion on Take Profit Not Triggered within the Spread Betting & CFDs forums, part of the Commercial category; Hello all. Oanda is my broker and they are repeatedly not triggering my take profits. Why is this? I tried ...

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Old Sep 25, 2017, 11:23am   #1
Joined Sep 2017
Take Profit Not Triggered

Hello all.

Oanda is my broker and they are repeatedly not triggering my take profits.

Why is this? I tried to ask them before and they made me feel like an idiot... Telling me I should learn more about trading...

It can't be because of the spread can it?
If it is then they must be charging me two spreads!

The icon that pops up on the chart to indicate entry level is always at the current price PLUS spread.
So if it's a 5 pip spread, the icon will appear 5 pips ahead of price.

So if I am instantly paying a spread, and my take profit was added AFTER I entered the trade, then why isn't my take profit level being respected? I already paid the spread which is indicated by the entry icon being 5 pips ahead of where I actually entered.

Thanks in advance
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Old Sep 25, 2017, 11:41am   #2
Joined Apr 2016
The TPs were never hit. For a long position, the sell price must match the take profit for it to trigger. For a short position, the buy price must match the take profit for it to trigger.
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Old Sep 25, 2017, 1:49pm   #3
Joined Sep 2017
Nowler started this thread
Quote:
Originally Posted by EnlightenedJoe View Post
The TPs were never hit. For a long position, the sell price must match the take profit for it to trigger. For a short position, the buy price must match the take profit for it to trigger.
Yeah?
OK... That makes sense I suppose.
Thank you for the help.

So, if I enter a trade for 2 pips spread and have a take profit at 'x'... If for example the spread had risen to 20 pips by the time price reached my TP, in order for it to be triggered then price would have to pass my TP by 20 pips?
(or perhaps it needs to pass it by just 10?)
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Old Sep 25, 2017, 3:32pm   #4
Joined Mar 2014
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Originally Posted by Nowler View Post
Yeah?
OK... That makes sense I suppose.
Thank you for the help.

So, if I enter a trade for 2 pips spread and have a take profit at 'x'... If for example the spread had risen to 20 pips by the time price reached my TP, in order for it to be triggered then price would have to pass my TP by 20 pips?
(or perhaps it needs to pass it by just 10?)
Hello

The spread is made up of a price you can sell at and a price you can buy at. For example 1.2013 - 1.2015 (you sell at 1.2013 or you buy at 1.2015)

Your order to close a long position will happen when the left hand side of the price (the bid) has reached your order level. This is because this is the side of the 2 way price that you sell at.

Your order to close a short position will happen when the right hand side of the price (the offer) has reached your order level. This is because this is the side of the 2 way price that you buy at.


good luck.
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Old Sep 25, 2017, 3:45pm   #5
Joined Sep 2017
Nowler started this thread
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Originally Posted by highbury fx View Post
Hello

The spread is made up of a price you can sell at and a price you can buy at. For example 1.2013 - 1.2015 (you sell at 1.2013 or you buy at 1.2015)

Your order to close a long position will happen when the left hand side of the price (the bid) has reached your order level. This is because this is the side of the 2 way price that you sell at.

Your order to close a short position will happen when the right hand side of the price (the offer) has reached your order level. This is because this is the side of the 2 way price that you buy at.


good luck.

Hello,
Thank you for your time.

Ok, I thought that maybe I was locked in for the 2 pip spread cost.
So basically, if they spread happens to increase in the time it takes for price to get to my TP, I am now at the mercy of the new spread when it comes to getting out of the trade via my TP? And not the initial spread?
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Old Sep 25, 2017, 3:49pm   #6
Joined Mar 2014
Quote:
Originally Posted by Nowler View Post
Hello,
Thank you for your time.

Ok, I thought that maybe I was locked in for the 2 pip spread cost.
So basically, if they spread happens to increase in the time it takes for price to get to my TP, I am now at the mercy of the new spread when it comes to getting out of the trade via my TP? And not the initial spread?
if you're on a variable spread product then the spread will move. the thing to remember is every 2 way rate has a price you can buy at (the offer) or a price you can sell at (the bid). if you are in a position where you are long you will have to exit on the sell side of the price and vice versa.

the spread is your cost to dealing. The more spread you pay the higher your costs.
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Old Sep 25, 2017, 4:59pm   #7
Joined Sep 2017
Nowler started this thread Thanks for the help folks!

I have another question in relation to alternative options for traders with low capital (aprox. €1,000).
I will make a new thread if I cannot find my answer in the current threads.
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Old Sep 27, 2017, 12:38am   #8
Joined Feb 2017
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Originally Posted by Nowler View Post
Thanks for the help folks!

I have another question in relation to alternative options for traders with low capital (aprox. €1,000).
I will make a new thread if I cannot find my answer in the current threads.
Oanda are a bucket shop who mark up spreads by the 100s of percent - useful only for wide stop swing trading. Utterly useless for anything else. I believe there is an LMAX white label who accept 1,000 euros... hang on...

www.fxmtf.com

I have never used them, but they just repackage LMAX's platform with a lower opening account value. They operate solely as an introducing broker basically. Maybe you should ask them if your deposit will be held in their client account or in LMAX's. If the latter then that's ideal. Otherwise I don't know because I don't know anything more about them.
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