MC moves auto-attached SLs beyond market after add to position, gets filled immediately
Posted: Jun 05 2024
I have raised this issue several years ago, but I have to reiterate it, because MCs handling of auto-attached SLs after adding to a position just creates too much unnecessary workload.
I do not want to be too blunt, but the logic behind it is just flawed and makes no sense from a trader's perspective.
Here's an example:
NQ, auto-attached SL, offset 8 ticks (= 2 points).
02:30:53.457: Entry @ 18584.75, auto-attached SL @ 18582.75, as expected
02:35:13.883: I move SL to 18596.75 by chart drag
02:38:18.102: I add to position @ 18603.25. MC logic determines an average price of 18594.00 and moves SL to 18606.00 (!) where of course it gets filled immediately. Makes no sense at all.
I understand the reasoning behind this: When the SL of an existing position is set to above break even, this profit should be preserved for the entire position after the add, even when this means moving the SL BEYOND the current price. Again, makes no sense, sorry.
I have to manually drag the SL far enough away to prevent this before each add, which creates just unnecessary workload. I understand there's a ton of feature requests or bug reports to be taken care of, but please MC team, acknowledge this is NOT ideal behavior and indicate if this can be changed for future releases.
Thanks.
I do not want to be too blunt, but the logic behind it is just flawed and makes no sense from a trader's perspective.
Here's an example:
NQ, auto-attached SL, offset 8 ticks (= 2 points).
02:30:53.457: Entry @ 18584.75, auto-attached SL @ 18582.75, as expected
02:35:13.883: I move SL to 18596.75 by chart drag
02:38:18.102: I add to position @ 18603.25. MC logic determines an average price of 18594.00 and moves SL to 18606.00 (!) where of course it gets filled immediately. Makes no sense at all.
I understand the reasoning behind this: When the SL of an existing position is set to above break even, this profit should be preserved for the entire position after the add, even when this means moving the SL BEYOND the current price. Again, makes no sense, sorry.
I have to manually drag the SL far enough away to prevent this before each add, which creates just unnecessary workload. I understand there's a ton of feature requests or bug reports to be taken care of, but please MC team, acknowledge this is NOT ideal behavior and indicate if this can be changed for future releases.
Thanks.