Buy Now/Sell Now - Slippage option

[haliloo]

Hi all,

The Buy Now/Sell Now with the slippage option - what does it do? (sorry for noob question)

Correct if i am wrong...

Assuming i put a slippage of 4, the market current spread is 10 for EURUSD for example, so the trade will not be triggered rite?

Thanks all.

[miro1360]

slippage is not spread, spread is spread ...
slippage is something what is broker not guaranted to you, it happens in ECN accounts (also normal accounts), when big volatility is here (news) and you place Sell on Bid price 1.1000 (when is spread 15, for this example Ask is 1.1015), your order must not be filled on this Bid price, can be filled on 1.1008 or 1.0992 (when slippage is +-8) .... your Buy order is normally filled at 1.1015 (spread 15) but when is slippage +8, will be filled at 1.1023 ...
back to your question, when you give into EA slippage, 4,10,20, all depends on your broker if he is guaranted slippage, when is, your order will not be filled if slippage from broker is > your in EA, but when is not guaranting, order will be filled on slippaged price and doesnt matter what you have in EA ...

[haliloo]

@miro1360

ok. so for stronger control over my EA to avoid entering trades during big volatility period (where spread will shoot up) what would be the better slippage figure?

would a slippage of say 1 be better than slippage of 10 say for example for better and safer control?

thanks again for answering my noob question

[miro1360]

that is question more to you, what will you or your system accept (in case if your broker offer slippage control)
because if you will enter trade at high spread (this can you also filter, when spread is more than you will have, EA must not enter trade), but if you will enter at high spread, if you and your system can accept high slippage (in other words, you can accept your trade on other price as requester offseted with some amount of pips depends on actual slippage) than you can have slippage also 100 (that is 100 pips :D), but if you will have slippage maximal 10, you enter this number ....

in most cases slippage 4-10 is satisfactory

note, a lot of brokers have not this slippage option, so only way how to detect potentially slippage is through spread (if your broker offer for EU spread 0.5-1.2 in time with normal volatility, and suddenly is spread >2, this can detect high volatililty and your EA dont enter)

[fxDreema]

This option does nothing for modern brokers, probably for all of them. This option comes from this function: https://docs.mql4.com/trading/ordersend One day I tried to put different values for this option directly into that function - 1, 100, 1000.... and there was no difference.

[haliloo]

@fxDreema

ah ok thanks all for clarifaction