Deleting my order?

[nelsonyeap]

I pereseted an order to a certain price, but it was deleted and sent me an email as below: <_<

Your order #1455101 (SELL STOP 0.03 USDCHF at 1.0375 was deleted due to the market price breakout.

------------------------
AI&S Dealing Desk

Why???

Thanks for replying... :)

[Renat]

Hello Yeap,

Let me quote the related paragraph of AML Terms of Business:

6.8.2. Orders Cancelled by Dealer and Orders Executed
with Slippage:

(A) AM reserves the right but not the obligation to execute
types of orders such as Sell Stop, Buy Stop or Stop Loss at
the price less beneficial for a Customer, and/or remove the
types of orders such as Sell Stop or Buy Stop from the list
of active order of a Customer in the following cases:

1) there is a price gap or large price movement between
the current market price quoted by the server at the
moment the order reaches the queue for processing and
the price of an instrument quoted by a server not more
that 90 seconds before the order reaches the queue for
processing; or when there is a price differences between
any two quotes during this specific time resulting a 2
spread between the current market price and the price set
in the order;

2) order reaches the queue for processing at the start of
a trading session and there is a price gap or a large price
movement between the first quote of a current trading
session and the last quote of a previous trading session
resulting a 2 spread difference between the current market
price and the price set in the order;

3) market conditions at the moment the order reaches the
queue for processing differ from normal market conditions
or were different from normal market condition during past
90 seconds resulting a 2 spread difference between the
current market price and the price set in the order;

......................

B. In case the Customer’s order is removed or there
is slippage then a message is sent to the Customer’s
terminal.

******

You may know that all prices indicated in pending orders are only &#39;hypothetical&#39; and that sometimes market is very fast so there may be no liquidity at the specified level.

The 2-spread rule described above is indended to bind the execution in MT4 to real pricing.

I very much hope this helps.

[nelsonyeap]

Thanks a lot... :)

[nelsonyeap]

Hello Yeap,

Let me quote the related paragraph of AML Terms of Business:

6.8.2. Orders Cancelled by Dealer and Orders Executed
with Slippage:

(A) AM reserves the right but not the obligation to execute
types of orders such as Sell Stop, Buy Stop or Stop Loss at
the price less beneficial for a Customer, and/or remove the
types of orders such as Sell Stop or Buy Stop from the list
of active order of a Customer in the following cases:

1) there is a price gap or large price movement between
the current market price quoted by the server at the
moment the order reaches the queue for processing and
the price of an instrument quoted by a server not more
that 90 seconds before the order reaches the queue for
processing; or when there is a price differences between
any two quotes during this specific time resulting a 2
spread between the current market price and the price set
in the order;

2) order reaches the queue for processing at the start of
a trading session and there is a price gap or a large price
movement between the first quote of a current trading
session and the last quote of a previous trading session
resulting a 2 spread difference between the current market
price and the price set in the order;

3) market conditions at the moment the order reaches the
queue for processing differ from normal market conditions
or were different from normal market condition during past
90 seconds resulting a 2 spread difference between the
current market price and the price set in the order;

......................

B. In case the Customer’s order is removed or there
is slippage then a message is sent to the Customer’s
terminal.

******

You may know that all prices indicated in pending orders are only &#39;hypothetical&#39; and that sometimes market is very fast so there may be no liquidity at the specified level.

The 2-spread rule described above is indended to bind the execution in MT4 to real pricing.

I very much hope this helps.


I have a new question aboot this stop loss topic.
If i buy at 1.000 with stop loss at 0.9990, would it be cancel of stop loss(0.9990) because of the price breakout or other reason?

[Renat]

Цитата(Yeap @ Jun 23 2008, 10:28 AM) 9949

I have a new question aboot this stop loss topic.
If i buy at 1.000 with stop loss at 0.9990, would it be cancel of stop loss(0.9990) because of the price breakout or other reason?


Hello Yeap,

No, we do not cancel stop-loss orders, and do not apply slippage to them, as this could be a direct loss to customer. This is allowed by Terms of Business, but never used in practice.

On other hand, sometimes we cancel sstop/bstop orders.

This is the way some portion of risk is counterbalanced between customer and broker.