Slippage forex wiki
Compared with unconditional orders, the conditional orders are orders that are either constrained regarding the conditions of their immediate execution, or are defined to be wiki later than when they are created and submitted, usually at market prices levels not prevailing at the time the order is created. This section explores in depth each conditional order. Conditional does not mean that such orders may forex be executed immediately. By contrast slippage the unconditional forex order, where the slippage condition is hidden for the rationales described before, the conditional market order has its control for slippage set by the trader. The slippage condition is therefore either being defined as the default value set in the preferences, and forex option "Apply default value slippage" slippage all market orders enabled, or set at the order trading pane by the trader. Any slippage value sets in fact a limit for the market order, where the limit is the price on which the trader clicks, or the market price at the time the order is sent. The conditional market order wiki immediate or cancel. In case wiki no execution, the order is immediately canceled wiki rejection. In case of partial execution, the order on the remaining amount which has not been executed is immediately canceled on rejection. The slippage slippage by the trader is enabled and its value is defined by the trader. If the trader does not define any value, a system default value will be automatically applied by the system whose value depends on the instrument. The action of sending a conditional market order and according consequences are recorded in the messages log, activity log, trade log and forex reporting sections if appropriate. Below are three examples of a conditional market order executed as it is recorded in the messages log. The first example shows the message log for conditional market order sent with a maximum slippage of 5 pips, the second one the rejection of a conditional market order sent with a slippage slippage condition of zero, and the third one shows a conditional market order sent with a maximum slippage condition of zero and executed. The indication that forex market order is conditional is the mention MKT MAX SLIPPAGE 0. Please note that for messaging dispatching purposes, the unit of the slippage condition is in conventional decimals which allows for slippage comparison with the execution price. Clients should always wiki the messaging while sending an order. The proper sequence is made of three lines of confirmation. The confirmation of either full or partial execution FILLED or rejection of the order REJECTED. The disruption of the messaging sequence signals a problem occurring in either the order submission or execution process. The messages log dispatches the most recent information up. Assuming the one-click forex mode is turned on, a wiki click on any trading quarrel or a push of the submit button will sent an order without slippage further warning. The unconditional market order is sent to the marketplace server for execution. Forex order at this point may be either, executed in full, executed partially, or rejected. The reason for slippage would be that the price at this time was no longer satisfying the embedded conditions when the market order was sent. If the forex at the best price fails, the attempt of getting another price within the slippage condition wiki by the trader will be processed within the same sequence. By slippage the slippage condition, the trader decides to wiki slippage value above zero or not slippage value of zero the price condition of its execution should forex the market moved at the time the order reaches the marketplace. To avoid risk of multiple wiki of a unique order amount, each order is routed to the marketplace one at once. The order cannot be treated simultaneously by several liquidity sources, or counterparties. It is therefore possible that a market order suffers rejection and therefore be canceled while at the same time, another liquidity source comes with a price that would satisfy the conditions of executions for slippage original order. This is the reason forex traders are encouraged to thoroughly wiki the messages log and the market prices simultaneously to be able to send another market order should the first attempt be rejected and canceled, and the forex price returning to acceptable levels for the trader. The slippage value may be defined for the purpose of increasing the probability of execution at the expense of the execution price, but also to increase the probability of executing a large transaction at once. Basically increasing the slippage also means that the market depth will be tested for execution. Although decent, the slippage at the spread may not be sufficient to grant the execution of a large order in one attempt, the trader may therefore use the slippage value for the order to seek further liquidity beyond the wiki spread. The margin requirements for a conditional market order are calculated when the order is sent for execution. Should the margin be not enough to cover the full execution of the market order, the part of the order not covered by the margin will be rejected and only the amount covered by the margin will be sent for execution. The information on this web site is provided only as general information, which may be incomplete or outdated. Click here for full disclaimer.
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