A note on brokerage stop levels when programming strategies

Some brokers have set stop levels (thresholds that limit orders of limit / stop prices that are too close to the current price)

When ordering limit and stop prices from strategies, you must program carefully.

Specifically, orders for stop / stop prices that are less than the pips set at the stop level result in an error.

Especially in the case of overseas brokers, the stop level is set higher, so it is necessary to program with this in mind.

To check the stop level,
Select the appropriate currency from Market Watch, right click → Symbols → Properties → Stop level

You can check with

For example, for overseas XM securities, the GBPJPY stop level is 108 points, or 10.8pips.

Next, if you set the logic to place a limit / stop price at a distance of 5pips from the current price,

The error “OrderSend Error 130” occurs continuously and every order fails, so it is useless.

In order for the strategy to work properly, it is necessary to make the logic to place the limit and stop price at a position far from the current price, at least more than 10.8pips.

If you are planning a strategy for an overseas securities company, pay attention to the broker's stop level.

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