Entry price too close to market price

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atradni
Posts: 10
Joined: Mon Mar 13, 2023 4:59 pm

Entry price too close to market price

Post by atradni »

I went through the Demo tutorial for the "Setup Rule Overview" and occasionally "Entry price too close to market price" pops up. I opened up the Rule manager but do not find any option for setting this value in the LastBar_Buy rule.
How is this number determined? To which value is this threshold is set and is this something I can change or just have to live with?
NakedMarkets
Posts: 248
Joined: Tue Feb 22, 2022 11:06 am

Re: Entry price too close to market price

Post by NakedMarkets »

Hello,

The message "Entry price too close to market price" prints when the user wants to create a pending order, where the Entry Price is within the Spread area, ie between the Ask and the Bid values.
It works like during live trading. For example, it's not possible to set a Buy Stop pending order below the Ask value.
We advise you to display the Ask value (in the Chart properties) to see it clearly.
In order to avoid this message within an entry rule, you can add the spread (there is a dedicated rule for that) to your entry price.
atradni
Posts: 10
Joined: Mon Mar 13, 2023 4:59 pm

Re: Entry price too close to market price

Post by atradni »

Ah, I see, this is helpful, will try this out. Although, this was done on a 15min chart... I will play around with this and see how it goes, thanks!
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